Luxury retailing is understanding the product experience, not the product itself

NEW YORK - In today’s retail space describing a product as “luxury,” especially for jewelry, no longer has the weight it once had, and must be given more meaning behind its association and significance, according to Unity Marketing's president during Initiatives in Art and Culture's Gold: Trends, Techniques and Transparency conference April 9.

Consumers are familiar with the traditional display case setup found in jewelry boutiques, but the retail strategy no longer appeals to many millennial shoppers. Retailers in the jewelry space begin with the challenge of selling items that are not essential, but by emphasizing the consumer’s perception into boutique layouts, sales may increase through emotional motivators.