Successful retail experience today is about trial, service and entertainment, says Eleanor Morgan, chief experience officer of direct-to-consumer mattress brand Casper, on the latest episode of The Innovators podcast by TheCurrent.
Speaking to Liz Bacelar at The Lead Summit in New York, she says the company really focuses on designing experiences that are optimized for those three things rather than inventory availability and convenience. What’s key is giving customers the ability to try out products, get consultation from experts in house and enjoy moments with the brand.
Casper has grown from an online retailer to a brick-and-mortar business with 20 stores across the US, along with an innovative sleep bar. The Dreamery, as it’s called, is a new napping space in New York built around experiential aims. It offers nap pods in a peaceful lounge along with a Casper mattress where consumers can pay $25 for a 45-minute snooze.
It also serves as an extension of the brand’s aim to drive a cultural change around sleep. “The Dreamery is a provocation and a way to essentially say, it’s not only acceptable to take a nap during the day and take a break, but it’s celebrated, and we can actually build a community of people that really value this and feel like it’s a socially fun behavior,” Morgan explains.
Casper was founded in 2014 with the mission of bringing great sleep to more people. With the diet and exercise industries booming, the founders saw a gap where sleep was completely ignored. Today, Casper is worth over $750m and has plans to open 200 store locations within the next three years.
Morgan attributes much of the brand’s growth to staying customer centered and focused on data. The company opened 18 pop-up stores in four months to test consumer engagement before opening its first permanent location, for instance. Through feedback and reviews from its consumers, it has been able to understand what their needs are, how they purchase their products, and how to improve their shopping experience.
During the conversation, Morgan also talks about the secret sauce to creating successful pop-up stores, what a modern sleep community looks like, and where Casper will be headed in the future.
Catch up with all of our episodes of TheCurrent Innovators here. The series is a weekly conversation with visionaries, executives and entrepreneurs. It’s backed by TheCurrent, a consultancy transforming how consumer retail brands intersect with technology. We deliver innovative integrations and experiences, powered by a network of top technologies and startups. Get in touch to learn more.