Book shops are working to balance between online and offline environments
Trend - Brick-and-mortar bookstores are attempting to retain interest among contemporary audiences by introducing tech-savvy features that enhance the experience. These are usually implemented to completely change or supplement one's visit and include technology such as augmented reality or facial recognition tech.
Insight - As consumers lifestyles in the modern digital age have drastically changed, these shifts can be observed in the retail space as well. Now, people are looking for innovative retail experiences that balance online and offline environments. Many consumers still have a preference for physical retail in some categories as it allows them to inspect the product at hand. However, a lot of them are intrigued by innovative forms of retail that call on technology to expedite the point-of-purchase procedure or simply offer a more immersive experience.
Insight - As consumers lifestyles in the modern digital age have drastically changed, these shifts can be observed in the retail space as well. Now, people are looking for innovative retail experiences that balance online and offline environments. Many consumers still have a preference for physical retail in some categories as it allows them to inspect the product at hand. However, a lot of them are intrigued by innovative forms of retail that call on technology to expedite the point-of-purchase procedure or simply offer a more immersive experience.
Workshop Question - How might your brand combine the physical and digital to enhance your product experience?
Trend Themes
1. Technology-enhanced Bookstore Experience - The retail industry has had to adapt to digitally-minded consumers, causing bookstores to explore technology-driven ways to enhance experience, such as using augmented reality.
2. Convenient and Digitally-integrated Bookstore Concepts - Unstaffed 24-hour bookstores that utilize facial recognition and cashless payment and feature apps for wayfinding have become a trend in the retail industry.
3. Immersive and Interactive Brick-and-mortar Bookstore - Brick-and-mortar bookstores are looking to put the magic back into the physical book-buying experience through the creation of mini-mazes, augmented reality books and tunnel-like establishments.
Industry Implications
1. Retail Industry - Retailers need to recognize the importance of technology-driven personalized experiences that balance online and offline environments.
2. Education Industry - There is an opportunity for technology-driven, immersive, and interactive bookstore experiences that stimulate children's interests and increase enjoyment of reading experiences to attract the youth in the education industry.
3. Entertainment Industry - A new immersive and interactive brick-and-mortar bookstore concept provides a new type of entertainment experience, allowing customers to immerse themselves in the world of their favorite novels.
