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Home » Reports » Looking for Luxury: The High Spend Hitlist!

Looking for Luxury: The High Spend Hitlist!

A selection of luxury items in a luxury retail store

In our latest exploration with BoltChatAI, we delve into the world of luxury shopping. As we jump into what makes consumers tick, we want to uncover the essence of what draws people towards luxury fashion items. Whether it be a meticulously made Swiss-watch or one of Italy’s finest designer accessories, our journey seeks to understand the intricate relationship between customer service, store ambiance and the desire to purchase luxury goods.

Objective

Our primary goal was to dissect the luxury shopping experience, identifying what factors contribute to a positive and memorable visit to a luxury store. Why do people want to buy luxury goods and what are their expectations in-store? We aimed to explore the emotional resonance these aspects hold for consumers and their effect on the decision-making processes.

Methodology and Sample Definition

Using our very own BoltChatAI market research insights platform, we engaged with UK consumers. Through a series of carefully crafted questions, we aimed to peel back the layers of the luxury shopping experience, hoping to uncover the key to delivering top customer service, creating the best store environment and the overall satisfaction level of the shopping journey.

High-End Must-Haves

Two key takeaways that BoltChatAI highlighted were the importance of customer service and the influence of the physical store environment. Shoppers expect a high level of customer service when shopping for luxury goods, the service has to match the price! They want to feel important and valued. This level of service is crucial in creating a positive and memorable shopping experience.

The store’s atmosphere also significantly impacts consumer satisfaction. Luxury shoppers prefer a spacious and well-presented store, that offers a wide range of stock, allowing for physical interaction with products. A luxury purchase takes more time than a traditional store purchase, so spending that time in an enjoyable setting is key.

Luxury shoppers are drawn to brands with a strong reputation and legacy, associating their purchases with personal status and confidence. With some top luxury brands, such as Gucci and Rolex, being in the industry for over 100 years, the longevity can speak volumes. Design and uniqueness are paramount, with a notable preference for the original craftsmanship over customisation. While sales and promotions are influential, the desire for timeless quality often justifies full-price investments.

“I shop online first and will look at the filter options to meet my needs in what I’m looking for. I would see if it’s available in store and visit to purchase after browsing. If it’s a luxury item I want to get this right so could take over a week.” – Male, age 39

“Ss soon as I walk into the store I expect someone to welcome me and start assisting me straight away, I want the setting to be warming and welcoming” – Female, age 36

Longevity in Luxury

Respondents advise new luxury shoppers to prioritise research, considering the longevity, ethical aspects and timelessness of luxury items before making a purchase. This pragmatic approach to luxury shopping balances aesthetic appeal with practicality and future value. Some luxury items, especially watches, can hold or even increase in value as time passes adding a layer of security for the buyer if they were to have a change of heart in the future.

The UK’s luxury fashion shopping experience is complex. It involves a mix of personal service, emotional engagement and the tactile allure of luxury goods. As consumer preferences evolve, luxury brands must focus on delivering exceptional experiences. The buying process can be as valuable as the good itself, so retailers must ensure their offerings not only meet but exceed the expectations of their discerning clientele. Give them that celebrity feeling!

If you want to dive even deeper into the UK’s luxury fashion shopping scene, you can download our report here and indulge in our insights for yourself. If you are want to find out what your consumers are thinking, book a demo with our team today and explore the capabilities of our BoltChatAI.

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