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Retail Innovation Week Newsletter: Retail’s healthy future, hybrid store innovations, building membership moats
05/05/22

Retail Innovation Week Newsletter: Retail's healthy future, hybrid store innovations, building membership moats

This retail Innovation newsletter provides the essential weekly inspiration for every changemaker driving innovation in retail and along the customer experience journey. This week we're sharing ideas around the evolutions of an ever-more accessible, retail-driven health and wellness landscape; the infinite possibilities and limitless innovations of physical retail; and building a membership-driven loyalty moat.

Reframing The Store As A Health And Wellness Experience
Optimal wellbeing and physical health are guiding forces in consumers’ lives today, informing their preferred brands and products and ultimately driving purchase decisions and loyalty. Research in PSFK's latest report indicates the boom in healthcare and wellness markets provides an attractive and exciting opportunity for retailers looking to grow their customer base and expand their services in innovative and impactful ways. 

Albertsons makes it easier to buy fresh food and medicine
In response to a heightened consumer focus on their personal health, Albertsons Companies is expanding affordable, convenient access to wellness products and fresh food for millions of shoppers with a new supplementary benefits program. Read More

Walmart and Snap debut AR lens encouraging healthy food choices
Snap Scan Shop is launched in partnership with Meredith’s Allrecipes, Snap and Walmart and offers a shoppable solution for home chefs looking for the perfect, and perfectly responsible, meal. PSFK

Walgreens opens health offerings in underserved communities 
Since acquiring VillageMD in 2021, Walgreens Boots Alliance has been expanding the footprint of the doctor-staffed clinics at a breakneck pace, opening a new location nearly every three days. Read More

Download This: A PSFK Guide to Winning At Retail With Health & Wellness Services

5 engagement strategies that leverage health and wellness trends to deliver superior, repeat-driven retail experiences. Details

PSFK's Guide to help retailers understand the business and consumer opportunities of providing health and wellbeing services to their shoppers and guests.

Physical Retail… Is Starting To Act Like A Website?
The infinite possibilities of in-store retail remain an untapped landscape experientially distinct from the more transactional nature of e-commerce, but that doesn't mean brick-and-mortar operators aren't keen on translating best in class digital tools and learnings to their IRL environments. To keep up with and even exceed shopper expectations, top retailers are leveraging increasingly hybrid pre-, during, and post-purchase strategies to provide an innovative and optimized experience across the entire shopping journey.

Size-guessing smart mirror wants to get rid of trips to the dressing room
The FirstLook smart mirror from MySize tells shoppers what size they are across various clothing brands. The AI-matching tool is beginning to make its appearance in retail stores, hoping to take aim at the 80% of clothing returns that are size-related. Press Release

Digital IDs tell shoppers everything they want to know about products
Readable via both QR codes and NFC tags, digital IDs contain information about store products and provide shoppers with details covering item provenance, care and repair instructions, and even resale, re-ordering, and other relevant information. Assigning digital IDs to products across categories could revolutionize both retail service and business models. Retail Wire

Philipp Plein is bringing the metaverse to its physical stores
German luxury designer Philipp Plein has opened a “crypto concept store” in London, where customers can pay for products in digital currencies and there is an NFT museum above the store’s main retail space. If successful, the idea will be rolled out to the retailer’s 100 other outlets. Philipp Plein

Museums embrace gamification, the metaverse IRL, and NFTs
Fortune covers how museums are responding to a growing appetite for digital content with gamified exhibitions, avatar-led tours, and over novel and hybrid activations that blend physical and digital to appeal to wider, younger audiences. Fortune

Retailers Going Beyond To Support Their Shoppers
Loyalty is a two-way street, and more retailers are finding that by supporting their shoppers with innovative membership offerings they can chart a positive path forward. Beyond just boosting the bottom line, membership programs allow retailers to offer better value to shoppers while simultaneously locking them in for repeat, future purchases. 

Lululemon courts shoppers with monthly loyalty program 
The popular retailer is debuting a two-tiered membership option later this year in order to build a base of loyal customers and create a connected experience for Lululemon shoppers. The paid monthly option ($39/month) comes with exclusive access to items, events and fitness classes via Mirror, the company’s at-home fitness business including workout content from partner studios like Rumble, Pure Barre, Y7 and DogPoundLululemon

Albertsons moves to a “customers for life” strategy
To strengthen its business, Albertsons is pivoting to a loyalty-based business model that doubles down on omnichannel shopper engagement beyond just transactions. The retailer believes satisfied customers create outsized lifetime value. RIS

More DTC brands are tapping membership models for growth 
Membership is the new way to scale and build a DTC brand, as a variety of ecommerce-driven retailers are now offering membership and loyalty programs. The brands view these initiatives as a way to offer better value to customers, while simultaneously locking them in for future purchases. ThingTesting

Panera introduces an unlimited free-drink subscription pass
Panera is launching an unlimited beverage subscription for all self-serve drinks, hoping the offering brings more customers to its stores. Called the Panera Bread Sip Club, the goal of the initiative is to drive loyalty by offering shoppers a unique and valuable perk that also inspires repeat visits. The subscription pays for itself after four drinks. Panera

Every week: a new guide to innovation in retail and along the CX journey.
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