As I wandered the various retail spaces around Las Vegas before Interbike this year, I came across a pretty impressive sight within the Tiffany & Co. store.
Behold, the lounge. This is crucial retail space that could be selling jewelry, but is utilized for making customers want to stay a bit longer, taking in the experience and the brand instead. There was another, slightly smaller lounge near the front of the store as well!
This is a great reminder that when it comes to luxury purchases–whether jewelry or bicycles–your customers want to feel a connection with your brand and enjoy the experience. During our seminars at Interbike, I made it a point to highlight this concept in a Do/Don’t comparison:
- Do: Create an environment where your clients feel instantly welcome.
- Don’t: Ever let a client feel out of place in your store.
I love how well this is illustrated by Tiffany & Co. Bottom line, if your customers want to stay, your customers will want to spend.
By the way, I made an educated guess as to what this 150 sq. ft. lounge costs this location each month, but I would love to hear you speculate, too. Leave your best guess in the comments!