Handbags at dawn
According to Fiona Hamilton, global head of retail for international brands at BNP Paribas Real Estate, six retail trends will change the world this year:
1. The High Street is back — but not as we knew it
The pure-play e-commerce approach has evolved. Online retailers and global brands are embracing the physical world to provide a bespoke customer experience that e-commerce alone cannot match as shoppers search for new places to connect, relax and define themselves.
2. The new luxury is not about “what I have” but “who I am”
Personal luxury spend has more than tripled over the last 20 years to €253 billion. The new luxury will be about understanding what consumers want to be, not what they want to own. Brands are reconsidering their own articulation of value and shifting their focus from selling products to providing services and experiences.
3. Big data to monitor, engage and personalise