In the last decade, it’s become routine for retail giants to vanish annually, and 2024 won’t deviate. Their abrupt departure sparks nostalgia and fuels debates on the forces behind their demise, often leading to melodramatic declarations of ‘the death of the high street’. Thriving retail brands must look ahead, embracing experimentation to create customer value and ensure survival.
Luxury retail temples
The age of the mega flagship is here as luxury retailers are snapping up real estate space in the United States and Europe to create colossal flagships that envelop shoppers in the brand’s world.
Why it’s interesting
Luxury brands are leaning heavily into world building for physical presence, creating flagships that represent an all-encompassing experience.
itim Group plc (LON:ITIM) is a SaaS-based technology company that enables store-based retailers to optimise their businesses to improve financial performance and effectively compete with online competitors. Itim adds retail value by helping multi-channel retailers optimise their business and their stores to improve financial performance and compete more effectively with the “Amazons”.
