Benediction is not a practice observed in any Anglican parish I’ve been part of, but it’s played a part in my visits to the Shrine of Our Lady of Walsingham and, more recently, to the brothers of the Society of St Francis at Alnmouth. I’ve found it, and the accompanying Adoration of the Blessed Sacrament, an uplifting spiritual experience.
The Franciscan friars helpfully provided a short essay by the late Anglo-Catholic theologian John Macquarrie, which explains the practice simply and beautifully:
Benediction … makes real to us in an impressive way the fact that God is always reaching out to us, to bless, to strengthen, to assure us of his loving kindness toward us.
Read the full essay here (PDF): Some thoughts on Benediction from Professor John Macquarrie (PDF)