In a world with attention spans that are becoming increasingly shorter, retailers must work harder and smarter to engage audiences. Recent studies by Microsoft show that the average human attention span is eight seconds, falling from twelve seconds in 2010. Not only are attention spans shorter, consumers are choosing to focus their attention on experiences instead of material goods.
Carol Lapidus, Partner and Managing Director of Retail and Consumer Goods at RSM, says, “Consumers, particularly Millennials, are ditching traditional stores to spend their expendable income on experiences. Look at the Instagram of any average 25 year old. It’s food and trips, not purchases.
