One Small Sign That Experimental Retail May Be Making a Comeback

Experimental retail could be making a comeback. Early in the last cycle, retailers looked for ways to survive as consumer habits were changing and turned to experiential retail to grow store visits and foot traffic. The pandemic forced the industry to pivot and focus on online sales as stores shuttered under government orders. Now, though, there are glimmers of experiential retail returning. One example is arts and crafts retailer Michaels, which is launching new test-and-learn store concepts at two locations in Texas to enhance the retail experience.

The concept begins with a new design, including concrete floors, updated signage and lower fixtures. This new design will allow customers to move through the store easily. In addition, the concept will also create an immersive experience for customers with several new formats, including trend hubs to display niche items, like seasonal merchandise, fine art and custom framing, and maker spaces, a dedicated area for in-store classes and instructor-led projects.

The new concept will also address new health and safety guidelines related to the pandemic. First, Michaels will update its checkout system with updated technology that will allow customers to shop and scan items as the shop in the store. The new system will also help stores with curbside and delivery services. In addition, the stores will follow all CDC health and safety guidelines, cleaning procedures and social distancing needs.

Retailers have learned to rapidly evolve since e-commerce shopping has taken off. In fact, retail evolution has been a defining characteristic of retail businesses this cycle. In some says, these changes have prepared some retailers with the flexibility to adapt during the pandemic.

Adoption of technology and digital tools was a big part of the market inadvertently preparing for the pandemic. Companies like Weitzman have been serving retailers with a proprietary digital platform to provide shopping experiences through online and on mobile devices. Weitzman specifically services small retailers and mom-and-pop shops. In addition, companies like Favor, DoorDash and Uber Eats provide direct communication with and services for tenants. These tools, which were already up and running long before the pandemic, allowed businesses to immediately pivot once the pandemic hit.

Like Michaels’ new concept stores, Weitzman operates in Texas and works with tenants throughout the state. The Michaels test and learn concept store is opening in McKinney and Plano.