For Millennials, It's All About Experience

Popular wisdom is that Millennials eschew luxury retail for experience-driven entertainment, such as traveling or dining out at Michelin-starred restaurants. Higher-end goods like designer watches and handbags, once coveted status symbols for Baby Boomers and Gen X alike, have largely failed to entice younger shoppers. Last year, Louis Vuitton sales declined 73 percent, Saint Laurent fell by 68 percent, and Balenciaga dipped 55 percent.  The Marriott, though? They’re doing better than ever.

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Topics: customer experience, in-store assortment, luxury retail, millenials, vacations

Luxury Retailers Understand the Value of Retail Analytics

One thing we’ve discussed more often than not on the Celect blog is retail analytics and its impact on big-box retailers such as Target, Amazon, and Zappo’s.  And it makes sense. They’re huge companies. They’re household names. And they’re usually at the forefront of innovation. Anything they do that is even remotely newsworthy will be covered ad nauseam.

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Topics: retail analytics, luxury retail

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