This post was originally published June 13 2018 and has been updated for relevance and clarity.
Despite declining consumer confidence and the ever-looming threat of the supposed “retail apocalypse”, luxury brands seem to be doing better than ever. In fact, according to the Bain Luxury Study, the global luxury market grew 5% to €1.2 trillion in 2017. However, retail as a whole is changing rapidly, and for luxury brands to thrive, they will inevitably have to adapt to this evolving market in order to stay at the top of the ladder.
In this 2 part series we'll investigate how retailers can bolster sales, even when foot traffic is down, by focusing on two key store performance indicators. This week we'll cover basket size.
Mobile technology has put shoppers in control of their buying journey. Checkout-free payments, personalised offers as soon as they set foot in a store...the list goes on.
The weather is getting chillier, familiar jingles are slowly taking over every commercial on TV and November is popping its head around the corner… Christmas is coming.
Topics: in-store execution