Evolving retail expectations require enhanced experiences in-store

Shopping with husband

According to Unity Marketing’s affluent consumer tracking survey, high-end consumers are spending their money more and more on luxury experiences, rather than products.

The study examined the shopping behaviour of 2015’s affluent consumers, following their spending across four key sectors: general merchandise stores, online retailers, specialty retailers and experiential marketers.

“What we found [from the study] was … significantly greater spending on luxury experiences,” says Pam Danzinger, president of Unity. “[High-end consumers] are buying experiences, and shopping is indeed an experience.”

Retailers that understand this new preference and alter their retail landscapes to accommodate it will be able to vastly improve their sales as well as better connect with their customers. With the luxury retail environment becoming more prominent than ever, it is now essential for brands to focus their attention on enhancing their in-store environments. CJ