https://www.insider-trends.com/10-leading-innovations-in-luxury-retail/
Luxury brands are being forced to change and FAST. Fashion still feels SO OLD!! Aside from the new streetwear trends and innovative designer direction, the way that brands operate is still ancient, especially old European Houses.
Slowly but surely, it is starting to come around with a few different initiatives that are driving customer demand. It is no surprise that the first is having the ability to create curated capsules for specific customers and making that product "exclusive". This has been around but there is an expansion for these things now with the additional capabilities that brands have to produce.
Most importantly, there are new ways that brands are attacking market share. They are beginning to embrace the rental market, which has proven to be a winner in the last two years in the luxury world. It has promoted some pretty interesting partnerships, like the only between Neiman Marcus and Fashionphile, which is a refurbished luxury accessory vehicle. Ultimately, where this is all leading is to the end of waste in the luxury market and the dusting off of the OLD feeling. It should be exciting to see what companies will prevail.
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