State of luxury travel retail – Luxury Memo special report

Luxury Daily – As affluent consumers on travel look for more for hyper-local activities instead of amenities, luxury retailers in popular vacation destinations are migrating towards experiential offerings and heightened customer service.

Consumer behavior in retail and travel has changed, putting the pressure on luxury retailers to adapt in highly trafficked areas during popular vacation times. Themes such as embracing local cultures, adapting to the growing number of Chinese travelers, using technology in and out of stores and other trends are becoming more popular in travel retail.

“Affluent consumers traveling to top destinations expect the royal treatment,” said David Naumann, vice president of marketing at BRP. “Luxury retailers cater to affluent shoppers with elite concierge services and exclusive events that make them feel important and esteemed.”

“Many luxury retailers have already customized their marketing strategies for seasonal and holiday shopping differences, such as Tiffany & Co.’s launching a new luxury fragrance Tiffany Eau de Parfum in the weeks leading up to Valentine’s Day and several retailers creating special campaigns for key Christmas shopping destinations in Germany and Europe,” BRP’s Mr. Naumann said.

“It is also imperative to offer distinctive services to make holiday shopping easier: gift suggestions, wrapping services and shipping to destinations around the world,” he said.

“It is important to offer communications and Web sites/applications in Chinese languages and provide payment options that make purchases frictionless (WeChat Wallet or Alipay),”BRP’s Mr. Naumann said. “Increasing awareness among Chinese consumers depends on a focus on optimizing content for Baidu, the dominant Chinese search engine, which has different rules than Google.”

“Chinese travelers represent one of the greatest opportunities for luxury retailers as the number of travelers and their spending continues to soar,” BRP’s Mr. Naumann said. “To capitalize on this opportunity, savvy retailers are engaging with Chinese consumers digitally to increase awareness and interest in products as they plan their trips so they include their brand on the traveler’s shopping list.

Read Full Article: State of luxury travel retail – Luxury Memo special report

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *