Challenges facing the luxury industry are many, from continued travel restrictions impacting the shopping tourism market across the globe to shifts in consumer buying patterns and expectations. However, 2021 also offers new opportunities for this sector, including Gen Z’s growing interest in high-end products, an affluent consumer impatiently waiting to return to spending, and the growth of luxury resale.
This Retail TouchPoints Special Report will look at how luxury brands are adapting to digital acceleration and transforming their business and customer experience models to re-create the luxury experience online, via tools such as AR technology, livestream shopping, clienteling and more. This report also will explore how the luxury sector is rethinking its approach to physical retail, tapping into stores as important hubs for omnichannel strategy and appointment-based shopping.
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