What:  An overall reflexion from the FT on retailing fashion in 2021.

Why it is important:  Stores keep an edge over internet as they are able to convey experience, emotion and service in a way that is not possible online. The magic formula remains however to be found.

The pandemic led to significant changes in terms of fashion retailing, the most important being the increase of digital sales (from 12% in 2019 in 23% in 2020). Luxury can be bought online, and in quantity. As a consequence, stores need to adapt and provide reasons for customers to come rather than logging it on the brands’ websites.

The Financial Times reviews la Samaritaine, Selfridges, Lane Crawford and other retailers whose business is tourist-related. All players agree on saying that regaining favours from the local customer is the new goal, however they remain divided on how it should be achieved, be it through only emotion and experience, such as in La Samaritaine, or with the help of tech, visible or not, such as in Burberry or Browns/Farfetch.

Re-engineering the fashion retail experience