The pandemic has accelerated the future of retail, and that future includes a radically transformed store experience. The world now expects speed coupled with convenience and safety, but what does that mean for the in-store luxury experience?
Oliver Chen, managing director of retail and luxury at Cowen, joins the latest episode of Retail Gets Real to share the challenges and the opportunities coming out of the pandemic and how luxury retailers are catering to consumers’ changing values and shopping patterns.
“One of the key objectives in luxury when you're at a store is actually to make you forget about price,” Chen said. “The world's also looking for wonderment, and that's a key opportunity for luxury too.”
The luxury market has had a creative renaissance during COVID-19, and consumers are looking for ways to express themselves more than ever – through fashion, accessories, clothing and more. While luxury retail has often been high-touch, it has found ways to apply that level of attention, detail and focus through other means.
Listen to the full episode to learn more about luxury’s role in the future of retail and how the landscape is changing to meet the ever-evolving needs of the consumer.
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