TravisMathew’s Post

How is the anatomy of Flagship retail stores changing? Here's a sketch that best demonstrates how luxury brands are developing new models and new ways to access to their worlds. Goodbye flagships and hello Landmarks. A multi-tiered model is emerging as the new normal as these luxury brands look to showcase the very best they have to offer. From accessible luxury for all to inclusive design, new ways to increase dwell time like brilliant restaurant collabs, community and culture projects, exclusive personal and VIP events. Retail is re-inventing itself like never before and when you take deep dive its a really exciting time.

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Targeting ultra-rich. Luxury retail is undergoing a transformative shift in its approach, transcending mere product sales to affluent clientele, and instead concentrating on nurturing connections within communities through shared interests while delivering unparalleled experiences. This vision is exemplified by Harrods, which is preparing to launch its inaugural private members' club in Shanghai by the end of the current year. The Residence, an exclusive personal shopping concept introduced by Harrods in Shanghai during the COVID-19 pandemic, is on the brink of a significant evolution set to conclude by the close of 2023. This evolution will culminate in its transformation into Harrods' premier private members' club, marking a pioneering endeavor for the esteemed British luxury department store. Showcasing a remarkable array of opulent amenities, including a restaurant overseen by Gordon Ramsay, an inviting bar and lounge area, discreet private dining spaces, and refined terraces exclusively crafted for the club's members, complemented by the pre-existing tea room at Cha House, these fresh additions enhance the experience for those fortunate enough to hold membership status. China's ascent to the global forefront of the market is unequivocal. While it primarily caters to its extensive domestic demands, there remains a distinct inclination towards acquiring extraordinary, exclusive pieces from the Western market. # 172 MEMBERS CLUB, China 👇 The link to the featured news is in the first comment below. If you want to learn more about our transformative approach to generating growth (yes, what we call innovation marketing!), feel free to write me privately. Harsheel Rana-Bains, Mark Arnold, Emily Ma, Jodie Blackbrough, Felicity Fidler #innovationmarketing #cultureofmodernbusiness #luxury #premium #lifestyle #DRUMROLL --- All rights and credits are reserved to the respective owners.

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Luxury isn't just for the few; it's a vibe that you can bring into your life, every single day. 🍾✨ Whether it's treating yourself to that designer bag or dining at that high-end restaurant, it's about feeling like a million bucks. And remember, luxury is in the details. So, start with what makes you feel fabulous! 💎 Ready to elevate your lifestyle? Unlock the world of high-end living with us! 🗝️ #LuxuryLiving #ElevateEveryday #LunarValerian #LuxuryLifestyle, #GlamourGoals, #NYCChic, #FashionIcon, #EleganceInEveryday, #HighEndLiving, #StyleInspiration, #LuxuryBrands, #OpulentLife, #TrendyLiving

Harrods - the traditionally British luxury department store is diversifying into new areas, both in terms of location and also, the products and services they deliver to customers. The Knightsbridge-based store will be launching its first private members’ club in Shanghai later this year. They will be offering the finest hospitality experience for consumers who desire the quintessential English touch. This comes in the wake of a sluggish global economy, where spending on luxury items is down in most regions but interestingly, not in China, where sales have increased twofold in most luxury brands in 2023. Going beyond traditional territories and reaching new audiences to grow their brand in a different direction, may be something many companies are considering in 2024 and we can help. At 7th Sense, we excel in helping brands better understand high net worth and niche audiences. We know luxury and have a proven track record in helping to shape customer experiences. You can find out more about us here: https://lnkd.in/eweNuYK4 #emergingmarkets #Globalretail #luxury #retail #marketresearch #mrx

The blurring of luxury retail and hospitality has gathered pace in recent years, with a growing number of brands investing significantly into the incorporation of an ultra-prime hospitality offer. From hotels to galleries to branded residences, hospitality is quickly becoming a fundamental arm of many of the world’s most high profile luxury houses, however it has been the introduction of an F&B (food and beverage) provision for many brands, that has really taken off over the past 12 months.

The concept of luxury has witnessed a significant change in the recent times. Luxury has become more about experiences and less about materialism. Consumers are buying fewer products and spending more on experiences such as food, wine, hotels, and travel. In comparison to 2017, luxury hospitality witnessed a sales growth of 5%, and gourmet food and fine dining witnessed a sales growth of 6%. Big luxury companies are utilizing the growing trend of “experiential luxury.” Luxury brands are, in particular, venturing into gastronomic experiences. The global market size of luxury foodservices was valued at 300 million USD in 2019. Gucci opened a fine dining restaurant Gucci Osteria in Florence. The restaurant is located next to Florence’s Palazzo Vecchio, which includes a Gucci store. The interior of the restaurant makes explicit reference to Gucci’s cultural heritage and aesthetics. Gucci Osteria Florence has a capacity of fifty seats, and the high-end dishes, such as the Emilia burger, or tortellini in Parmesan sauce, are served by Three-Michelin-star chef Massimo Bottura. In either case, to better appeal to these consumers, luxury players can incorporate the design thinking approach. Using this approach, luxury players can generate the right marketing communications to promote their gastronomic services at their cafes and restaurants. Furthermore, through foodservices, there exists an opportunity for luxury marketers to contribute to food well-being. #snsinstitutions #snsdesignthinkers #snsdesignthinking

Luxury retail companies have been taking an interesting strategic path over the last years that might reshape the traditional luxury market. Expanding into accessible hospitality has many benefits for luxury retail brands that can make more people feel included and break the idea that only a few can enjoy luxury. This helps them reach out to people who want luxury but can't afford it yet. Certainly, when luxury brands introduce accessible options, they create a gateway for new consumers who may develop into loyal guests as their financial means grow. Nevertheless, and to my opinion, this approach may reshape the concept of luxury, which, in my view, is currently excessively utilized. I believe that luxury is an elusive essence that cannot be replicated or imitated, and it should be perceived as something truly exceptional. The challenge lies in how this democratization of luxury may affect the perception of some long time loyal guests to these iconic brands. To maintain their sense of exclusivity and loyalty, we must explore strategies that ensure they continue to feel genuinely special and catered to. #luxurybrand #brandstrategy #brandstrategymatters #guestappreciation #strategyandtransformation

Did you know that there is a new trend in branded merchandise? A recent article from The New York Times explores the phenomenon of people collecting #brandedmerchandise from luxury hotels, such as hats, t-shirts, towels, and bathrobes, even if they haven't stayed at the hotel. The article explains that owning such items has become a status symbol that creates a sense of belonging and exclusivity. Recently, the demand for hotel memorabilia has increased dramatically, with some items selling out quickly and even causing bidding wars. This trend presents a unique marketing opportunity for luxury hotels and branded merchandise businesses. Paywall-free link to the article: https://bit.ly/3UDlfe1 #promotionalproducts #swag #merch #apparel