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Highlighting the importance of having an ecosystem that not only mirrors the online space for the digital natives but also facilitates a framework that enables the brands to connect with their consumers on a deeper level, Vivek Biyani, the founder of Broadway states that experiential commerce is the revolutionary approach to retail ecosystem.
As Broadway, an experiential commerce concept by the entrepreneur and venture building company, Think9, marked its debut with its first flagship store in the nation’s capital. Its founder shed light on the necessity to bridge the offline store experience gap among the brands that have their footprint on digital platforms.
Bridging the Gap Through 3Cs
The concept of Broadway is to provide the digital-first brands with an experience to cater to their consumers through the channels of offline stores where the consumers too can interact with the items and brands that they only see on a creator’s Instagram profile or access them through a link to a portal. Consider it as a phenomenon of Instagram coming alive.
As these brands embark on their first-ever traditional retail experience, Broadway has been at the forefront of this new approach. Housing over 115 new-age brands and a roster of over 150 content creators under its creator’s commune programme and that too under one roof, it bridges the gap by combining the forces of 3Cs- Content, Creators, Commerce.
Mirroring The Online Space For Digital Natives
The Broadway store, offering a wide array of categories, has tried to include the concept of bringing whole lots of brands under one umbrella to add a twist to the concept of retailing.
“The concept of experiential commerce lies at the heart of Broadway’s vision. We aim to create an ecosystem that mirrors the online space for the digital natives; a simplified model that empowers digital-first brands to establish a tangible presence and connect with consumers on a deeper level and a vibrant community that celebrates creativity and discovery. We are proud to be at the forefront of this retail revolution and are very excited about our debut store,” states Biyani while highlighting the idea behind the concept.
Concept Of Working Together
As Broadway houses over 115 brands under one roof and offers a wide array of categories, from beauty and personal care, health and wellness, fashion and lifestyle, catering to diverse consumer needs, the company aims to work with the brands to ensure success.
Biyani emphasises the importance of working in collaboration to make the new retail experience concept successful. He says, “What I want to say to the founders (of new-age brands) is that we have to do this together. The success of every brand will lead to the success of Broadway. We will have to learn from every customer, every brand and every founder in terms of what more we can do.”
From Live Trials To Golden Tickets
As Broadway gears up to cater to consumers, the founder points out a few of the strategies and plans that the brands part of the store have planned out for their customers.
“Every brand is excited to invite their customers to come here. A brand has planned 100 customers to do a live trial inside the store. We have golden ticket plans for many brands who have invited their loyal customers. Multiple experiences have been planned,” mentions Biyani.
As Broadway has marked the brand’s footprints with the store in Delhi, it is set to open two more stores in Hyderabad next month and in Mumbai by early 2025 to give a taste of the experiential commerce model that aims to be innovative, immersive and inclusive.
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