A study, the Future of Luxury Retail Bricks-and-Mortar, conducted by graduate students of the Fashion Institute of Technology class of 2015, had as a conclusion that despite e-commerce growth, physical storefronts still comprise 75% of the retail landscape. According to this research, bricks-and-mortar retail must rethink and reinvent its four key elements: assortment, service, navigation and product. Another study, the Future of Luxury: Global Research Insights, Emerging Trends and New Business Models for 2030, conducted by another group from the same school says that to maintain a competitive edge, brands must embrace technology integration into in-store models to meet the demands of consumers.
The ...
