Luxury Daily’s live news updates from Oct. 27 – Pat McGrath increases high-beauty’s reach with product debut; British retailers seek extended hours to boost revenue, employment; Graff gathers essays, images to show founder’s passion; LVMH narrows lens on North America via new hire.
Articles Tagged ‘retailers’
Independent retailers are still slow to adopt mobile payment services as the majority of consumers are not asking for it, with over 40 percent of businesses uninterested in ever introducing contactless payment options, according to a report by Lightspeed POS.
Today in luxury marketing – CFDA brands NYFW with new logo; What’s next for Stefano?; China market rout, slowing economy sap demand for luxury cars; Moscow malls open half-empty as retailers struggle, study says.
Today in luxury marketing – Paris retailers: Telling a story; Gucci, Prada and Milan’s egocentrism; Fraudulent fashion companies closed; The price of luxury? Storied brand tied to animal abuse.
There is no doubt that there are challenges ahead for retailers, but in general, conditions are being termed as cautiously optimistic. With that said, here are a few things to pay attention to as we wrap up January.
As the rubber hits the road for most retailers heading into the holiday season, some key decisions about mobile commerce are being kicked into the long grass for seeming want of clarity.
According to Forrester Research, mobile devices generated $50 billion in revenue in 2013 and are forecasted to generate $82 billion in 2014. Consumers using mobile devices spend 86 percent of their time within applications, making apps the clear leader in driving revenue over the mobile Web.
Over the past few months, I have had a number of boutique retailers inquire about implementing new point-of-sale systems and mobile payment solutions for their business.
Luxury brands have been notoriously diffident when picking up emerging technologies, acting only when the coast is fully clear, but Bitcoin may provide an occasion to change that reputation.
I had the pleasure of visiting the Hermès pop-up shop in New York a couple of weeks ago and it begged a question: Are pop-up shops an effective retail strategy for luxury brands?