Luxury retail is a distinct segment within the broader retail industry, specializing in high-end goods that are often characterized by their high quality, high prices, and a significant degree of exclusivity.
When it comes to retail, there are two main types: luxury and mainstream. While they both offer products for sale, their differences are vast and significant.
Luxury brands have always been associated with exclusivity, quality, and prestige. To effectively sell to affluent customers, these brands must employ a combination of marketing strategies that cater to the unique tastes and preferences of their target audience.