Airports are the new shopping malls
A traditional global retail strategy meant a personalized approach to each market, but what happens when the same person travels through markets, without belonging to any single one?
As department stores continue to decline, a new contender comes to the forefront. As the kings of convenience and novelty, the future of luxury shopping today is tied to the future of airport retail.
Favorite airport brands are luxury
Among airport favorites are Louis Vuitton, Chanel, Cartier, and Gucci. And as Millennials, the largest generation of adults today, continue to prioritize convenience and access-over-ownership business models like Uber and Airbnb, it's not about what you buy but how.
Regardless of your shopping preferences, airports are an experience we all share and it's an invaluable opportunity.
VIP Service at the airports
In London, Heathrow’s VIP service which includes a private entrance and lounge, dedicated security, and of course, personal shopping offerings attract time-constricted and affluent shoppers who on average spend more than $3,400.
Enjoy Your Layover
Shopping requires you to have one crucial ingredient - time, something you'll find yourself with plenty of between layovers and delays.
58% of people browse the shops just because they have time to kill and, of course, that is good news for the retailers because it is likely to stimulate sales. (Mintel)
In the future, you will be choosing your flight connections based on the shopping options available during your layover. And why shouldn't you?
Airports are flooding with indulgent shoppers, business travelers and vacationers with particular tastes to unique items and local brands, making goods not available back home, a luxury in and of itself.
So, ladies and gentlemen, the Captain has turned on the Fasten Seat Belt sign. Sit back, relax, and enjoy the transformation.