53 Experiential & Concept Stores in New York (2020)

What is a Concept Store?

The Concept Store is where retailers and brands test new ideas such as store layout and fixtures and design, launch specialty products for a targeted audience, introduce lifestyle services such as on-site tailors and restaurants, and deploy interactive elements such as augmented reality studios.

Experiential Retail refers to elements that enhance the In-Store Customer Experience, such as private client retailing, cafes and live music, and virtual reality games.   

Most retailers consider a single pilot store as a concept store. The more innovative retailers embed experimental attitude into their flagship stores.

5 Must-See Examples & Case Studies of Experiential Retail (NEW in 2020):

• Nordstrom Flagship on 57th & Broadway
• Showfields on 11 Bond Street Soho
• Hudson Yards Mall on 11Avenue & 30th  
• Starbucks Reserve on 10 Waverly Place
• Nike’s Flagship on 650 Fifth Avenue

Retail-Tech Trends in 2020
2020 welcomes a new decade in retail with a focus on technology, stores, and ecosystems:

• AI + 5G = Retail-Tech Store: AI stands for a variety of advanced technologies. With 5G, data can move with ease back and forth between corporate servers and the local stores. The data highway ignites creativity. and growth.
• Physical Stores are Hubs: Physical stores evolved into fulfillment centers, showrooms to Omnichannel shopping, and high-touch market and product research centers.
• ​Retail-Tech is an Ecosystem: As strong brands get stronger, and big stores get bigger, the relationships between retailers, brands, and malls are being rebalanced. In the next decade, retail will evolve into a holistic distribution and communication ecosystem.

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Source:
https://behavioranalyticsretail.com/concept-store/?ck_subscriber_id=572572190