With heavyweight retailers such as Barneys, Forever 21 and Toys ‘R’ Us (more on them later) having filed for bankruptcy or getting sold off, the world of retail is looking rather bleak for many former titans of the mall. As more and more consumers prefer the solace of online shopping, old giants of the brick-and-mortar scene are going the way of the dodo. However, perhaps the end isn’t quite as nigh as previously imagined.
According to Licensing International’s 2019 Annual Global Licensing Industry survey, retail sales are on the come-up this year with a 3.9 percent increase internationally. This slight increase from the epic losses of years prior comes as the very best of retailers are evolving to meet a generation of customers who have more choices available than ever before.
These retailers are bringing novel ideas to market by identifying the reasons why people go to stores in the first place and delivering exceptional experiences in the process. Stores like Lush and Primark are finding success by creating curated shopping experiences that speak to Millennial consumers, while brands such as Barbie and YSL are taking their products on the road to meet customers where they already live.
Data points to demands for these companies’ efforts, too. Fast Company recently reported that Millennials are 73 percent more likely to visit a shopping center if it has a leisure or entertainment experience. That same report also notes that by 2030, the experience economy will generate $8 trillion for retail. So, what does a successful retail activation look like in the modern era?
To answer that question, License Global is looking back on the headline-grabbing activations of the past year. We’ve compiled a list of the top activations that brought something unique or novel to the forefront