Tailoring the 21st Century Customer Experience
More than ever, experience matters in retail. "There is no doubt we’ve seen a permanent shift in the way consumers shop and behave," said Linda Kirkpatrick, executive vice president for U.S. market development with MasterCard, explaining that connsumers across all age groups are more willing to spend on experiences rather than things, and are more interested in retailers who offer personal, custom, digital and social experiences.
Shoes of Prey and Indochino, two companies that are creating customized products as well as unique and memorable experiences for customers, exemplify this concept. And in doing so, the companies are not only reimagining the customer experience, but the retail model itself. Jodie Fox, co-founder and chief creative officer for Shoes of Prey, and Drew Green, CEO of Indochino, discussed how experiential retailing is changing the industry and how mass customization and on-demand manufacturing is key to the future of retail.