According to The Business Research Company’s retail market analysis research report, retail stores are increasingly offering one-of-a-kind features and experiences to meet consumers’ expectations. Experiential retail sector refers to a store that allows customers to purchase an experience rather than just services or goods. This pattern is largely driven by millennials and their preference for experiences over services or goods. These stores frequently make use of technology and innovation, such as traditional elements and retail augmented reality combined with activities and mobile apps. As a result, retail stores are gradually being digitized in order to improve operational effectiveness as well as sales. The digitalization of the retail industry enables retail stores to have portable mobile application access, allowing retailers to smooth out the ordering of items, recommend items that the consumer is likely to purchase, and provide quick delivery when compared to traditional delivery. Digitalization reduces costs while increasing sales at convenience and mom-and-pop stores.

Businesses in the retail industry are increasingly working to provide clients with an improved and seamless shopping experience, and as a result, they are pursuing the integration of their physical stores with the online shopping experience. Retailers who implement these strategies provide customers with a variety of ways to purchase their products, both online and offline. As a result, it is more convenient and flexible for consumers to avail themselves of services or purchase products, which aids in increasing sales.