While much attention is being paid to millennials in the media, it is Generations X and Y, in their role as Globizens, who are energizing change in the world of luxury travel.
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As shoppers gravitate toward watch-based technologies, retailers will need to focus on creating an engaging in-store experience on the new devices.
According to a study by Global Web Index, 80 percent of shoppers consider smartphones a close second, only to PCs or laptops (91 percent), as the most popular devices used to search the Internet.
“The Internet is the only medium that can reach almost all luxury buyers in all markets,” noted a Google study of global luxury shoppers. Yet, this fact goes strangely unexamined by the legacy luxury brands.
IDC estimates that technology manufacturers will ship a total of 45.7 million wearables in 2015 and that, by 2019, total shipment volume will reach 126.1 million globally.
Too many high-end brands shy away from Instagram out of fear that they cannot control their image.
With the experiential luxury sector consistently outperforming any other sector of luxury goods, luxury brands are challenged to become purveyors of self-expression and lifestyle.
The answer to merging the worlds of mobile and in-store retail lies in having a solution that offers the factors of function, convenience and a great user experience.
“I don’t believe in this idea of luxury anymore,” famously said J.W. Anderson, the latest It Boy of luxury fashion. “That weird notion of luxury for me is like shopping in an airport.” Mr. Anderson just vocalized what many in the industry are thinking, wondering about their role and place in the world of affluents in 2015 and beyond.
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