The key takeaways from MaxMara, DOLCE&GABBANA, London Fashion Fund, MY WARDROBE HQ, Intelistyle and Skywire panel discussion. Understand the 6 emerging Post-Covid fashion and luxury consumer profiles. Craft a winning strategy to navigate the Covid-19 recovery landscape and get your customers shopping again.

1. The
Ethical Shopper
The
Avenger
The
Anti-Consumptionist
The
Nostalgist
The
Balanced Optimist
The
Digital Convert
FASHION SPENDING
READINESS
SCALE
HOT FOR SHOPPINGCOLD FEET

2. Will cut down on non-essential shopping significantly
Less product - Lower transaction value
Drop some existing brands - will not be open to trying new ones
Mostly Millennials + Some Boomers
The
Anti-Consumptionist

3. Will invest in sustainable, timeless pieces
Prioritises ethical-environmental company values
Less product - Higher transaction value
Mostly Gen Z + Some Millennials
The
Ethical Shopper

4. Burnt out from choice fatigue
More mindful - drop brands with no personal connection
Less product - Higher transaction value
The
Balanced Optimist
Millennials

5. Loyal to the brick and mortar experience
In-store innovations to create low-contact brand experiences
Mostly Boomers Not Adopting Digital + Some Millenials
The
Nostalgist
Same product - Same transaction value as Pre-Covid

6. Switch to digital-only shopping - won't resume Pre-Covid behaviour
More product - Higher transaction value
Boomer Digital NewComers + Millennials + Gen Z
The
Digital Convert
Expects exceptional customer service pre, post and during purchase

7. Revenge shopping on multiple touchpoints
More product - Higher transaction value
Increased transaction frequency
The
Avenger
Boomers + Millennials + Gen Z

8. Which changing or emerging shopping habits of the post-covid fashion & luxury consumers should
retailers be paying attention to right now?
Pay attention to all consumer profiles - look for 'Hybrid' Consumers who span multiple profiles
Move past “product catalogue websites” - Address the lack of storytelling
Omnichannel user experiences will be a key differentiation point
AI and big data are key in personalising to different customer profiles
KEY TAKEAWAYS - QUESTION 1

9. With the majority of consumers expressing hesitance to go back into a regular physical shopping
behaviour for at least the next 6 months to 1 year, how can retailers create that in-person customer
experience in the digital space?
Focus on getting the core technology basics right first
Clienteling software will be key in scaling customer service and building relationships
Great online customer service will be a key brand adoption driver
Personal shopping services will scale from VIP customers to all segments
KEY TAKEAWAYS - QUESTION 2

10. How can fashion and luxury retailers add value to their proposition as a retention and acquisition
strategy to increase Customer Lifetime Value ?
SCIENCE (Data) + ART (Creativity) + CRAFT (Operational Ability To Execute & Scale) is the winning formula
Ensure the brand value proposition is aligned with customer values
Don't wait for the customers to come to you - actively engage with them
Utilise data to put the individual customer at the heart of all retail operations
KEY TAKEAWAYS - QUESTION 3

11. How can retailers support customers with online services in a digital space at the same high quality of
the customer service in physical stores
Invest in mature technologies that are proven to work
Combine AI technology and Human resources for exceptional service
Upskill your customer service teams and retail frontliners cost-effectively
Invest in the tools that give you the information on your customers and help your teams up-sell and cross-sell
KEY TAKEAWAYS - QUESTION 4

12. The one advice that you would give fashion and luxury retailers during recovery
KEY TAKEAWAYS - FINAL THOUGHTS
This is the time to innovate instead of being frozen
Authenticity is key: Be genuine
Ensure you are covering your core tech basics
Consider everything from the customer's perspective
Take risks and be bold now: Innovate with your teams and customer at heart