Global – As the luxury sector bids to fight back against the digital era, new retail districts are emerging that give people a sense of place.
Brands are creating neighbourhood clusters of sector-specific shops to provide physical experiences that consumers cannot find online. Inherent to these districts is creating a sense of place that evokes the history and architecture of the area carefully mixed with a sense of newness. Some areas are even going through a rebranding, such as St James’s in London, to create a cohesive identity that shoppers can relate to.
‘People want to be somewhere that reflects something fundamental about who they are,’ says Niccolò Barattieri di San Pietro, CEO of luxury property developer Northacre.
The Big Picture: For more on why New Urban Guilds are appealing to luxury shoppers, read our latest microtrend.