Need to Know

London – Making its first move into homeware, Prada is launching a collection of objects and domestic accessories that will be available exclusively at Harrods. The line will be displayed in a permanent boutique on the department store’s third floor that will be dedicated entirely to the fashion brand’s furnishings.

In keeping with Prada’s modernist approach to store design, the boutique has a wood and metal façade, and its walls are upholstered in fabric in the brand’s signature shade of green. Dedicated to ‘homeware and sophisticated accessories’, the boutique will stock hand-made objects, pillows with the Prada logo, gold-plated dress-making scissors, and a selection of wooden vases designed by long-time Prada collaborator Martino Gamper. The brand has also re-issued a silver cutlery set from 1905 by Viennese architect and designer Josef Hoffmann, pointing to a future when luxury fashion brands re-issue classic designs to reach new audiences.

As more and more luxury brands enter the Premium Homeware Market, Prada is setting itself apart by collaborating exclusively with Harrods. The department store, in turn, benefits from being the only retailer with the items on offer.

With 71% of US consumers expecting more intimate interactions from the companies they shop with, personalisation is more crucial than ever. Research conducted by McKinsey & Co reveals that 76% of customers feel frustrated when they don’t receive personalised treatment, demonstrating how consumer desire for personalisation has been replaced with demand.

When asked to define personalisation, those surveyed associated it with ‘positive experiences of being made to feel special’. Checking in post-purchase, requesting product reviews or sending how-to videos all produced a positive response among those surveyed. Going beyond the moment of transaction, customers have begun to expect companies to show a lasting interest in their relationship. Of note, the report found that fast-growing companies drive 40% more of their revenue growth from personalisation than their slow-growing counterparts.

Although the pandemic has caused a surge in digital behaviour, these findings are relevant for bricks-and-mortar retail, too. As customers return to in-person shopping, brands can integrate thoughtful touchpoints to create more lasting connections with consumers. To learn more about how to use digital data collection to guide physical spaces, readers can consult the Storefront Salvation macrotrend.