First, there are new Business Models and Retail formats are formed. Lets revise all of nowadays functioning in fashion and luxury:
- Fast fashion retailers such as Zara, H&M
- Online e-commerce platforms – ASOS, YOOX, Net-a-Porter
- Transformations within department stores of corners into Concessions – are retail spaces that brands rent and manage by themselves in terms of staff, assortment and retail operations – Sephora
- Multi-brand stores, which became different and more appealing – Colette in Paris, Dover Street in London
- Upgrade of department stores, from premium to luxury, creating much more appealing selection and customer journey – Printemps in Paris, La Rinascente in Milan.
Second trend in the retail world is Globalization of the Retail presence of fashion and luxury brands. All the brands are present in all the major capitals of the world, side by side. The “Location game” where everyone is looking for the best location in terms of street/department/floor/corner is getting more tough, as choosing the right location is a key success factor in retailing.
Third, The evolution of consumers on emerging markets. In Asia, the distribution is much more retail than wholesale driven with respect to Europe.
Fourth, the customer experience. The right customer experience for the individual customer, in terms of age/generation/nationality at all touch points, online and offline. The use of Omnichannel is important link between retail and wholesale activities in terms of editing, pricing, concept, must-buy definition, distribution and retail criteria, digital world.