Fashion and Beauty #Luxury Retail is at a critical juncture where they need to adapt to a world changing fast, but the way that they adapt needs to be done in a way that doesn’t ignore the past, but includes the present and the future… A on #Fashion and #Beauty #LuxuryRetail

Most #luxury #retail stores are located in (what were) busy, #city centre locations where office workers and #tourists usually spent most of their time and money. Now that these audiences are mostly absent what does that mean for retail sales at these #luxurystores?

A #persona adjustment i.e. their target customer has changed and they need to adapt. This shouldn’t be looked at as a way to completely reset, this pandemic won’t (hopefully) last forever, however this is an amazing opportunity to see which other customers are available to serve.

When your old customers return, the new customer base will only add to your bottom line. So… what do I mean by this? Whether it’s #Mayfair, #Greenpark or #Knightsbridge in #London, your domestic market doesn't only have #hedgefunds, #assetmanagers and #tourists…

One big hidden customer, especially in cities like #London, is that the way the #cities have been built means that there is a significant #residential market that you have probably been undeserving while you focused on high #spending tourists and office workers.

Start looking after these customers in your #neighbourhood and it will pay significant dividends. Bring them into your #retail ecosystem, be it via online or #instore #events. And build your #digital presence to improve your avenues of #communication with your #local audience.

Start having and maintaining consistent #conversations with them. Use it to start #attracting and building a strong relationship with them. The way you communicate online is an important bridge between your physical and #online #retail presence.