US luxury market experiencing a boon

April 7, 2019 | By RetailME Bureau

After sustained growth of the US economy, the luxury retail market is experiencing a boon, indicates research firm CBRE. However, it’s not immune to the disruption the rest of the retail industry is experiencing. While the industry has been slower to embrace e-commerce, it has been at the forefront of consumer experience, offering innovative amenities to earn customer loyalty and drive traffic to stores.

The luxury retail market continues to consolidate, with a few key players owning a large number of high-end brands. While the brands stylistically operate independently, the acquisitions have been a growth driver as ownership is able to create a more efficient platform.

While luxury brands have been shy of e-commerce, they have innovated extensively with their in-store experience. With a keen focus on intuiting what their consumers want – from exclusive events to in-store food and beverage offerings – the luxury sector has been at the forefront of experiential retail, maximising dwell times and maintaining physical stores as the critical component of omnichannel operations.

There has been a return to the flagship store model, while brands continue to perfect their footprints. Many luxury brands are rolling out new signature stores or renovating existing ones, which is driving traffic and social media mentions.

Hospitality and convenience will play key roles as luxury brands build out their omnichannel platforms. Already experts in consumer experience expect luxury retailers to bring new levels of service to shopping across channels.



Previous Article Next Article



Food retailer SPAR enters Kazakhstan

Dutch food retailer SPAR enters Kazakhstan following the opening of its first 

Continue Reading

October 6, 2022 | By RetailME Bureau
BinDawood Holding opens first Danube supermarket in Bahrain

One of the leading grocery retail operators of hypermarkets and supermarkets in 

Continue Reading

October 3, 2022 | By RetailME Bureau

Al Maya Group has announced the opening of its new supermarket in Arabian 

Continue Reading

September 29, 2022 | By RetailME Bureau

Locally-owned supermarket Spinneys and pharmacy retailer Aster Pharmacy have joined forces to 

Continue Reading

September 5, 2022 | By RetailME Bureau
The pandemic has undoubtedly affected us all

Majid Al Futtaim has announced its audit reviewed operational and financial results 

Continue Reading

August 24, 2022 | By RetailME Bureau

Dubai’s largest developer Emaar has announced that it will sell it’s online 

Continue Reading

August 22, 2022 | By RetailME Bureau

Walmart announced this week that it will offer Paramount Global’s streaming service 

Continue Reading

August 19, 2022 | By RetailME Bureau

Employee retention has been on every company’s minds, especially since the fears 

Continue Reading

August 16, 2022 | By RetailME Bureau, a Q-Commerce marketplace startup just announced their go live date in the 

Continue Reading

July 20, 2022 | By Justina Eitzinger

GMG, a global well-being company retailing, distributing, and manufacturing a portfolio of leading 

Continue Reading

July 19, 2022 | By Justina Eitzinger

Lulu Group International recently introduced the world’s first AI-powered Food Delivery Robot 

Continue Reading

May 9, 2022 | By RetailME Bureau

Download Images RetailME Magazine