Tuesday, 6 December 2016

Changing Paradigm Of Luxury Retail

Changing Paradigm Of Luxury Retail 

Anand Jewels, Indore
In today’s global markets, where there is a new luxury brand every month, it is critical to stand apart from the crowd. The competition is no longer on just a local stage, but also in the global economy. Therefore, a lot of importance and thought is given to branding and signage with these becoming seasonal design exercises in themselves.

The execution process has changed a lot since the old business holders have handed over the business to the new generations, with a great emphasis on quality and the experience of customers. Even though in India, Cost saving for owners has been a major challenge, it is essential to achieve good design and good quality, all at great value. Technological investment is still upcoming, but the motivation is being acquired.

The luxury retail segment is still evolving in India. Emporio Mall in Delhi has been the game changer, in this one mall the whole of India got a taste of luxury retail concept in terms of the layout, lighting, materials, details, merchandising etc.Group DCA has been fortunate to have handled over 20 projects in this mall.

Luxury retail projects lay a lot of importance on shop front and branding. Materials used are usually very warm and merchandising is sparse. Each product is a hero! After people visit a luxury store more than remembering the interiors it is the product which is supposed to stay in their mind. Lot of emphasis is laid on making the merchandise look irresistible and comfortable. On the technical side, quality of execution is sacrosanct. If the quality and detailing in the execution is not upto the mark it reflects on the quality of product being sold. This analogy is simply not accepted by global luxury brands.

In today’s global markets, by simply placing a product in the market with a ‘luxury’ label attached, will not attract the targeted customers; Uniqueness of Store design, the appropriate ambiance and experience, diligent planning, execution and clever strategic marketing are factors that will eventually shape the success of the store.

-Amit Aurora & Rahul Bansal

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