Published on : Wednesday, October 23, 2019
It’s no longer news that luxury consumers are getting more experiential. They are spending more on luxury experiences, like travel and dining, and less on luxury goods, such as fashion, jewellery and beauty. Speak to anyone in the luxury goods business during one of those after-hours moments and they will tell you this shift toward luxury experiences has them rather worried.
Boston Consulting Group and Altagamma, one of the industry’s authoritative sources on market size and trends, predict that the experiential luxury market will grow nearly twice as fast (44%) from 2018 through 2025 as personal luxury goods (23%).
Global luxury tourism gets the lion’s share of that experiential spending. It will total $831 billion by year’s end and is predicted to achieve a 7.3% CAGR over the next five years to reach $1,182 billion, according to a new report.
One experience that almost every luxury tourist wants is to shop in the best stores and not necessarily the most well-known ones. And what every local business selling luxury goods in a tourist destination wants most is to bring those high-spending tourists in. But that can be a challenge if they are not located on Main Street, High Street or in a mall.
To the rescue comes LookStyler. It bridges the gap by introducing high potential luxury shoppers to local luxury fashion businesses with a shopping experience designed just for them.
LookStyler is officially described as a “global styling platform that connects professional fashion stylists, fashion designers, and travel companies with luxury fashion lovers.” Translating that into plain English, founder and CEO Mirjana Perkovic, who splits her time between New York City and Brussels, explains, “We basically organise shopping tours, which are customised and curated for people who travel to shop. We drive tourist traffic to local retailers with a fashion stylist as the guide.”
Professional travel agents and hotels often provide referrals, but travellers can tap the LookStyler service directly online. There they can engage a professional stylist to take them around town to the best places to shop. Services are offered in 65 international luxury shopping destinations. Based in NYC, routinely rated the world’s number one shopping destination, LookStyler matches the client with a top-notch local stylist based upon the client’s tastes and preferences after completing an online style questionnaire. Once the match is made, the stylist takes them on their tour providing both personal shopping and styling services. Half-day and full-day packages are offered.
“We help our clients discover those special boutiques and designers where they can find something truly unique. In New York if they want to go to Saks or the new Neiman Marcus store, we’ll take them there. But we find that when people are traveling, they want to get the local community experience. We give them that,” Perkovic says.
Currently, LookStyler has over 1,000 stylists on its roster, all with fashion degrees and years of experience. Many of them work with celebrities or style for magazines, television and movies.
Tags: Luxury tourism