The retail ecosystem is in the middle of a huge and unprecedented transformation. Almost every stage of the entire retail process, from the moment a product is created until it is bought, is quickly evolving. Shopping experiences, both online and in-store, are going multi-channel, consumer preferences are relentlessly changing and worldwide retailers are trying to adapt their strategies to the latest demands.
Online is the next frontier for luxury brands. It’s where luxury brands can find their next path to growth, but for a variety of reasons they have been notoriously slow to follow it. As an industry steeped in heritage and tradition, change doesn’t come naturally to it, but in today’s dynamically changing consumer market, that is exactly what luxury brands must do.