Temporary retail spaces are becoming a preferred choice due to their adaptability and cost-efficiency compared to conventional stores. These pop-up stores have turned into invaluable assets for luxury brands in terms of revenue generation, brand reputation, marketing, and novelty. These stores are emerging globally, particularly in Asia and less dominant markets, as highlighted by a report from luxury market research firm Luxurynsight.
Luxurynsight performed a detailed examination of the retail efforts made in the first half of 2023 in 20 key areas by renowned luxury brands like Balenciaga, Bulgari, Cartier, Dior, Gucci, and Louis Vuitton. The objective was to delve deeper into the post-pandemic retail tactics of the luxury sector.
Luca Solca from the consulting agency Bernstein, who is a lead luxury analyst, mentioned, “Since the onset of the Covid-19 outbreak four years ago, there’s been a marginal rise of 0.5% in single-brand luxury stores globally, especially in regions like Asia-Pacific, Europe, and the Middle East.” Solca emphasized that brands are veering towards opening expansive stores, a trend contributing to the proliferation of pop-up stores. These short-term retail spaces rejuvenate the allure of these expansive flagship outlets.
https://ww.fashionnetwork.com/news/Luxury-labels-driving-fashion-s-pop-up-store-boom,1553481.html
