Multibrand shops leading the luxury sector

(Il Sole 24 Ore Radiocor) - Understanding the current state and future prospects of the luxury sector, with a special focus on multi-brand retailers and market trends. These were the main topics discussed during the conference "Re-Retail, Technology, Market and Consumers in Fashion Retail", organised at Palazzo Lombardia by Camera Buyer Italia, during which market research, conducted by Compass and Deloitte, was presented with a specific focus on the world of Italian multi-brand fashion shops. In particular, the research was conducted on the boutiques associated with Camera Buyer Italia, which represents over 90 high-end boutiques across the country, with 80 e-commerce and 3,000 display windows, offering an interesting insight into the dynamics governing the multi-brand retail sector. Among the main strategies adopted by the boutiques surveyed, targeted buying (for 59%), consumer loyalty (for 50%), multi-channeling (for 36%) and geographic diversification (for 14%) stand out. The research showed that to remain competitive in today's market, companies must invest in omnichannel strategies, offering a seamless shopping experience, whether the customer visits a physical shop or a website.

The conference 'was a wonderful opportunity to reaffirm the importance of Lombardy and Italy in the world of fashion and luxury in general, but also and above all the ability to continue to renew ourselves and show the world our creativity and our ability to be, even in this sphere, the best,' commented the president of the Lombardy Region, Attilio Fontana, emphasising that 'at this time, fashion is not only an economic aspect but above all an aspect of identity that represents our great ability. So we as a Region are certainly close to this sector and we try to support it to ensure that it consolidates and increases the success it is having'.

"Italian multi-brand shops represent an undisputed excellence on the international fashion scene, thanks to their ability to innovate and respond to the needs of a constantly evolving market," added Tourism, Territorial Marketing and Fashion Councillor Barbara Mazzali, emphasising that they are "great entrepreneurs who in recent decades have dictated styles, fashions, and above all, with their research, have defined what is true Made in Italy. Moreover, Mazzali continued, these are entrepreneurs who 'are attentive to the changing world of fashion and question themselves on how to reinvent themselves. They are enlightened entrepreneurs, they are the repository of knowledge and creativity. They are also the ones whose shop windows have made the big international brands famous. They are credited with asking where we are going and what the future of multibrands will be. Today, their shops, which are already shops of exceptional research, beauty, design and above all content, probably have to become places of experience. On this we can build with them an important project that will be able to define the new styles'.

For Mazzali, the Camera Buyer Italia association, chaired by Maura Basili, is a virtuous example of how the balance between tradition and innovation can be the engine of success. "These realities have been selecting and presenting the best of fashion for decades, and their experience in recognising trends and responding to changing consumer needs makes them true ambassadors of Made in Italy luxury in the world," Mazzali continued, concluding that "Lombardy, with Milan as the fashion capital, is ready to support these boutiques in facing the challenges of the future. The multi-brand shops not only contribute to the prestige of the fashion industry, but also represent an important economic driver for luxury tourism, which is growing steadily in our region,' and emphasising that the synergy between fashion and tourism is one of Lombardy's strengths.

Fundamental to the development of these realities are also innovative payment systems, such as the 'Buy Now Pay Later' (Bnpl) model or digital wallets that allow users to centrally store and control their personal information related to online purchases, such as username, passwords, shipping addresses and details of their payment instruments, credit cards or other digital payment systems, enabling the user to make product purchases quickly at any shop in the world.