Look at any Target or Walmart store on a Saturday and watch as customers perfectly dominate the essence of physical-to-physical commerce. In fact, just the experience of being in a physical location leads most customers to make purchases far beyond their shopping lists. That’s the reason why brands spend millions of dollars on physical retail locations because they feel confident they can elevate and capitalize on the on-site shopping experience and the “serendipity” that happens in the store. Whether it’s waiting in a queue to enter the Louis Vuitton Maison Vendôme store in Paris or going down an in-store slide during a Showfields shopping adventure in New York, the world of physical retail has become more experiential and glitzy. It is one of the drivers of BIG retail.
But when we start to think about a brand’s physical footprint in virtual economies, we seem to falter. Does this footprint have a “toe hold” in the virtual world? I say a resounding yes!