Luxury Stores: A New Shopping Experience on Amazon
As an industry, luxury retail has long struggled to adapt to the age of convenience and fast fashion. However, there has been no shortage of innovative efforts from major names like Amazon. Most recently, Amazon announced a new feature called Luxury Stores. It’s relatively new, and how receptive brands and shoppers are is yet to be seen. Continue reading to learn about Amazon’s most recent push into the luxury retail space.
What are Luxury Stores?
Luxury Stores offer a unique shopping experience beyond what’s already available through Amazon. Unlike a standard Amazon storefront, through these stores, shoppers have a 360-degree view of products. This enhanced shopping experience could make it more likely shoppers turn to Amazon for more expensive products.
Which Brands are Eligible?
As of now, Luxury Stores are an invitation-only feature. However, both challenger and legacy brands can use them. At first, they will only showcase 'select garments'. Over the coming weeks, brands will learn what qualifies their brand and products.
Is this Widely Available to Shoppers?
There are plans to expand this offering in the future, but only U.S. Prime shoppers can shop through Luxury Stores with an invitation. Eligible shoppers can access them via the Amazon mobile app.
While information is limited, we believe this update is one to watch. Often times, updates and new features from Amazon debut to compete with other marketplaces and solutions. But, Luxury Stores won’t go head to head with competing retailers. Instead, they offer luxury retailers a space to sell during a time when brick-and-mortar stores are struggling due to the pandemic.
Further, this feature will help Amazon differentiate itself from other emerging marketplaces. This update allows Amazon to appeal to shoppers and improve its competitive advantage. Finally, although Amazon already has an impressive number of sellers, this feature positions Amazon for even more growth as shoppers and brands adapt.
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