The in-store experience for luxury brands is increasingly important as retailers both compete with and seek to bolster e-commerce sales.
E-commerce's share of total retail sales remains below the pandemic high of 16.4% although it crept up to 16% during the second quarter this year, according to JLL's latest luxury report. With 80% of retail sales still occurring in physical stores, luxury brands continue to rely on their physical presence as a direct point of contact with consumers.
Because of this, a scarcity of desirable retail space has continued to impact the growth of luxury retail stores across the country, and luxury brands are focusing on reinvesting in their existing flagships to provide high levels of customer service and personalized in-store experiences.
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