The evolution of the luxury retail experience – FashionUnited UK

Trendstop|Friday, 12 June 2020

Pre-pandemic, experiential luxury was one of the biggest growth areas of the luxury sector. Instagrammable moments became more highly prized among Millennials and Gen Z consumers than the continued accumulation of product. Despite a hiatus caused by the outbreak, the consumer shift to a less but better mentality will inevitably reignite desire for experience-led initiatives.

Trendstop invites FashionUnited readers to discover how the luxury market is reinventing and innovating post-coronavirus.

Luxury brands with a wealth of outlets and flagship locations, are rethinking how to repurpose them, in light of social distancing guidelines. Labels such as Valentino, are reinventing the in-store event in a virtual format. In a first of its kind, the Valentino Garavani Backnet showcase invited guests to visit its Milan outfit remotely. Sales staff were on hand to guide through customisation options and purchasing of its namesake sneaker.

Taking an omnichannel approach is allowing brands to utilise current resources and combine them with new innovations to transform their operations in the new normal climate. A merging of the physical and digital worlds can create innovative, retail experiences with seamless service consumers expect from luxury retailers and brands that are investing and building on these capabilities will have the advantage over their competitors. Understanding their audience and the differing impacts felt at different consumer levels allows brands to plan for future targeted marketing events.

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Trendstop.com is one of the world's leading trend forecasting agencies for fashion and creative professionals, renowned for its insightful trend analysis and forecasts. Clients include H&M, Primark, Forever 21, Zalando, Geox, Evisu, Hugo Boss, L'Oreal and MTV.

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The evolution of the luxury retail experience - FashionUnited UK