8 Ways Buying Luxury Will Change

FORBES – Luxury brands need to reinvent the way they sell to you to remain relevant, said a number of experts, speaking today at Luxury Daily’s “Luxury Insights Summit” in New York. For decades, buying luxury goods has meant a trip to the store, although gradually high-end brands have been exploring e-commerce. Burberry has been on the cutting edge of making the bricks-and-mortar experience more dynamic, integrating technology that brings products to life and ties your mobile phone to in-store shopping. Still, it’s not all rosy. Remember “Pretty Woman?” Only about one-third of luxury shoppers in the United States have a favored salesperson they can count on versus 77 percent in emerging markets, notes Cara David of YouGov. And the clock is ticking. Nadia Tuma of McCann’s Truth Central says, time is the most precious resource of affluent consumers.

This article provides a glimpse at eight changes in how luxury brands will sell to you in the future and includes ideas from Ken Morris, principal, Boston Retail Partners.

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