By shopping online, you get better deals.

Continuing with the analogy that some students are only interested in the result, irrespective of means. It stands to reason, that they recognise that the process of obtaining a university degree is an investment. An investment that requires both time and money. A recent study in retention rates for students from under-represented groups found that they are much more likely to quit university because they question the value for money, and they are more likely to struggle with course content. The report is indicative of the wider consensus that students are treating the provision of education with the lens of a commercially savvy buyer, which means universities need to work harder to win their business.

Technology has overcome some of the challenges that made online preferable to bricks and mortar – could this now be applied to the traditional lecture, too?

For the purchase of some items the real experience always trumps the online one. Or does it? Advances in augmented reality allow consumers to visualise products in real time in their own homes. 3D visualisations give the opportunity for consumers to see how products look in their space before they commit to purchase. Similarly, is the traditional lecture hall format always conducive to more effective learning, when many factors are at play including the lecturer quality, the concept being taught, and the learning preference of the student. The use of AR in the learning environment is expected to substantially disrupt traditional learning models by:

• Increasing student engagement using a gamified approach that resonates with today’s students.
• Explaining more abstract and complex concepts through 3D visualisation.
• Allowing students to undertake the practical elements of a programme without the need of a physical space or tools.
• Allowing the student to learn anywhere and at their pace. With AR apps users can learn anytime and anywhere from their smartphones. It is the best way to replace paper books, posters, huge physical models, etc.

How can Universities avoid the fate of the High Street? Focus on developing a value proposition that emphasises the student experience.

The High Street continues to be disrupted by the demands of an ever-changing consumer. The more successful high street brands have generally pivoted towards bringing experiences that the internet can’t. At its most base level, the future of the high street is focused on delivering something that satisfies the needs of humans as social beings and that is something Universities should focus on; a sense of community and belonging.

Universities should remind potential applicants that the experience of attending university is an unmatched opportunity for self-exploration and to meet likeminded people, this coupled with a flexible approach to learning and leveraging new technologies are the key drivers to student recruitment and the student experience. Universities should not only be comparing themselves to peers, they should be comparing themselves to other experiences that potential students may be consuming.

Whether the university is a quaint little campus institution, the equivalent to a small town cobbled high street or a sprawling multi hectare city university an equivalent to a Westfield shopping mall – Universities need to do more to market the value proposition focused on the student experience and the intangibles that attending university brings. Institutions that are unable to deliver that compelling proposition may end up the Woolworths and BHS of higher education.