What does the future hold for luxury experiential retail?

That is the question Royalmount set out to answer in collaboration with international fashion media outlet The Business of Fashion with the development of an exclusive study.

Luxury shoppers have a stronger sense than ever of what they consider to be superior retail experiences. In today’s interconnected world, customers want an engaging retail journey, ranging from hyper-personalisation to creative experiences that align with their values. Without a doubt, the physical store is front and centre.

~54% of North American luxury shoppers say they visit a luxury store at least quarterly.

‍~77% of respondents expect to visit luxury stores as often or even more frequently in the year ahead.

Physical retail has the opportunity to meet — and exceed — the increasingly high expectations from luxury shoppers by innovating around three pillars:

Supercharged Connectivity
~67% of luxury shoppers agree that stores should feature more digital integration.

‍Sustainable Retail
~61% of luxury shoppers agree that stores should meet higher environmental standards.

‍Inclusive Luxury
~49% of luxury shoppers agree that stores should be more than a place to buy luxury products.

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To view the full report, visit bit.ly/BoFxRoyalmount

To watch or re-watch the BoF Live conference on the report’s finidings, featuring Andrew Lutfy, CEO of Carbonleo, David Gester, Senior Director of Development at L Catterton, and Victor Luis, President and CEO of Moose Knuckles, click here.

*Proprietary March 2023 survey of ~1,500 US and Canada customers