The luxury market in an age where experiences are worth more than products

“The world is changing through retail. Big stores are no longer just places of consumption to become places of experience. Consumers are looking for a pleasure to have not only a product but a souvenir. People don’t buy products, they buy values. And the values ​​have fans. ”

It was with this definition that Javier Fernández Andrino, El Corte Inglés’ International Strategic Director of Marketing and Luxury, addressed the transformations the network has been going through to serve the new consumer and provide differentiated experiences during its first visit to Brazil to participate in LATAM Retail. Show.

Javier Fernández Andrino’s thoughts can be considered a perfect synthesis of the moment in which he crosses the luxury market worldwide. The interest of consumers, especially those from the younger age groups, has shifted from the product to the values ​​of brands and companies.

An example that perfectly illustrates this panorama is Gucci. Those who buy Italian brand products, in addition to the interest in design and almost centenary quality, also connects with the values ​​spread by the brand. Sustainability, diversity and plurality are the hallmarks of Gucci’s recent production and, consequently, are reflected in its consumers.

It is not without reason that the brand founded in 1921 is currently considered the luxury brand that most tunes with the young millennials. Gucci has realized that far more important than producing attention-grabbing fashion is the dissemination of solid values ​​that debate sensitive topics and, most importantly, seek greater harmony across the planet.

Contemporary retail, and especially high-end stores, must realize that consumers increasingly enjoy activating and promoting experiences inside or outside the store on their journey. The virtual environment, in this sense, has become a privileged space for the potentialization of these experiences.

It is never too much to remember that quality at every stage of the supply chain, excellence in service and the launch of innovative and connected products today play a central role in the market, but, as customers are increasingly proving, experiences and values ​​tend to be the real differentials in luxury consumption.