Future Stores, a new concept shop, is gearing up to transform Oxford Street retail with its immersive approach.
- Opening next week, the store integrates cutting-edge technology to offer an interactive shopping experience.
- Founder Ariel Haroush plans further expansion, seeing traditional retail as no longer engaging for modern consumers.
- Featuring advanced micro LED displays and a dynamic payment system, the store combines practicality with innovation.
- Intel will be the first major brand to showcase in this unique retail environment, offering an immersive on-site experience.
Future Stores, the latest entrant on Oxford Street, is poised to redefine the retail landscape with its innovative, technology-driven ethos. With an investment of £20 million, the store promises to create a shopping environment that captivates and engages customers in ways traditional retail struggles to match. Its founder, Ariel Haroush, is considering further locations in London and is already planning expansions to Paris and New York. He believes that current retail offerings fail to maintain consumer interest, particularly among younger demographics with shorter attention spans.
The store’s primary feature is its use of advanced technology. It boasts high-definition micro LED displays, monumental billboards, and sophisticated camera systems spread across its two floors, enhancing the visual appeal and interactivity of the shopping experience. Not just a visual spectacle, the store also integrates a practical transactional system, enabling brands to not only market their products but also facilitate direct sales. The basement floor serves as a dedicated stockroom, adding an element of convenience for retailers and consumers alike.
One of the store’s appealing aspects is its data-driven approach. According to Engin Celikbas, the Managing Director, the collection of insights and analytics is not just an added feature but essential for creating personalised shopping experiences. These insights into customer behaviour, such as dwell time and traffic patterns, can significantly enhance conversion rates and customer satisfaction. The integration of these data insights illustrates the necessity of leveraging information to remain relevant in today’s competitive retail market.
The concept not only provides established brands with a cutting-edge platform but also democratizes the high street by offering opportunities to emerging designers who might not be able to commit to long-term leases. Haroush explains that Future Stores acts as an ‘awareness piece’, allowing passers-by to gain a glimpse of its impressive offerings even from the outside. This innovative strategy reflects the evolving nature of retail, where the aim is to be not just a place to purchase goods but a destination to experience.
Future Stores aims to continually adapt and push the boundaries of retail through strategic partnerships and collaborations. Notable contributions from individuals like broadcaster and retail specialist Kate Hardcastle MBE emphasise the importance of introducing fresh, disruptive brands into the space. The model presents a reinvention of the traditional pop-up store, potentially setting a new benchmark in retail.
Future Stores introduces a visionary approach to retail, merging technology with experiential shopping.
