Staging experiences in a toy store
Saari, Marika (2023)
Saari, Marika
2023
All rights reserved. This publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited.
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202303163724
https://urn.fi/URN:NBN:fi:amk-202303163724
Tiivistelmä
It has been recognized that instead of buying new products consumers value experiences that engage them in personal and memorable way. Real life experiences, such as attending live events, are preferred over material goods because experiences give a more fulfilling sensation than purchasing an item of the same value. Events are seen as a way to connect with other peo-ple, and the community. Those retailers who offer experiences, and operate in a sustainable way, remain competitive. Millennials who have children attend family-suitable events, giving an oppor-tunity for businesses to create events for the whole family.
This report looks at the characteristics of the Experience Economy and the design principles of experiences to find out how a brick-and-mortar toy retail store could embrace the principles of the Experience Economy to gain competitive advantage. The literature review comprises the princi-ples of the Experience Economy, examines how experiences are designed and created, and what kind of an impact retail atmospherics has on consumers, and studies how children perceive toys and playing.
This is a qualitative research, research approach being a case study. Semi-structured interviewing and benchmarking were the research methods. Six interviews were conducted and seven places were visited for benchmarking. Interviewees were parents and some of them were grandparents. The places visited were businesses that offered activities for children.
It is evident that the principles of the Experience Economy could be utilized in a toy store. There are several different kinds of events and activities that can be organised in a toy store using toys and services as props. However, organizing events requires skills and resources, and the toy store needs suitable premises. The retailer needs skills in several areas, such as cost-volume-profit analyses to make sure that the event organizing is profitable, project management skills and marketing skills. What skills and resources are needed to utilize the principles of the Experience Economy in a toy retail store could be a further study.
This report looks at the characteristics of the Experience Economy and the design principles of experiences to find out how a brick-and-mortar toy retail store could embrace the principles of the Experience Economy to gain competitive advantage. The literature review comprises the princi-ples of the Experience Economy, examines how experiences are designed and created, and what kind of an impact retail atmospherics has on consumers, and studies how children perceive toys and playing.
This is a qualitative research, research approach being a case study. Semi-structured interviewing and benchmarking were the research methods. Six interviews were conducted and seven places were visited for benchmarking. Interviewees were parents and some of them were grandparents. The places visited were businesses that offered activities for children.
It is evident that the principles of the Experience Economy could be utilized in a toy store. There are several different kinds of events and activities that can be organised in a toy store using toys and services as props. However, organizing events requires skills and resources, and the toy store needs suitable premises. The retailer needs skills in several areas, such as cost-volume-profit analyses to make sure that the event organizing is profitable, project management skills and marketing skills. What skills and resources are needed to utilize the principles of the Experience Economy in a toy retail store could be a further study.