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Willy Wonka's chocolate factory is the blueprint for the future of retail

Column: industry Tag: Willy Wonka's chocolate factory Published: 2016-07-27 11:06 Source: Author:

Willy Wonka

Over-the-top architecture, awed tourists, never-before-seen offerings — the future of retail has never been so glitzy.

As customers become increasingly focused on experiences, retailers from Starbucks to Whole Foods are opening awe-inspiring stores to build their brands.

On Wednesday, Starbucks announced plans to offer food from artisan Italian bakery Princi at upscale Roastery and Reserve-only locations.

CEO Howard Schultz said in a call with reporters:

"Our intent with the Roastery was to create a multi-sensory retail experience not only that would elevate coffee, but that was really unlike any retail experience in the world. You can think about Disney, you can think about Apple, you can think about Nike, Zara — the great retailers of the world, and I think people would agree who come to see the Roastery that there's nothing quite like it in the world. The Roastery is a place of innovation and discovery, coffee, romance, and something we're really really proud of."

Innovation, discovery, and romance aren't typical buzzwords for talking about a coffee shop — but, the Roastery isn't the typical coffee shop.

The 15,000 square-foot location allows customers to see small-batch roasters in action and serves drinks like the $10 Nitro Cold Brew Float. Dubbed the Willy Wonka of coffee by the company, it has become a Seattle tourist destination.

While there is currently only one Starbucks Roastery, the company considers the store to represent the future of the chain as it develops its premium coffee business. Two Roasteries are set to open in New York City and Shanghai, with plans to open more in key cities around the world, as well as Roastery-influenced Reserve-only stores.

Opening a handful of these upscale locations creates a halo effect for the brand, Schultz says. The average Starbucks doesn't have to change entirely. Customers just need to be aware of the more upscale locations, with local stores borrowing certain aspects of the premium experience that best fit the local market.

"The entire shopping experience literally needs to be an experience, not a commodity," Jason Dorsey, co-Founder and millennials expert at The Center for Generational Kinetics, recently told Business Insider. "For retailers integrating things like live music, exclusive events, digital gaming, and the unexpected—such as an impromptu fashion show—is what transforms retail shopping into an experience."

While some retailers and restaurant chains are attempting to elevate this experience across locations, many have realized a few truly draw-dropping stores can impact the entire brand. In other words, Starbucks isn't alone in its use of single or select number of eye-catching, premium locations to elevate customers' perception of the brand.

Whole Foods has been long been known for providing a customer experience that goes beyond grocery shopping.

Source: Yahoo Finance

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