TECHNOLOGY &
INNOVATION IN RETAIL
Who’s really ahead
Luxury v Mid-Market
ContentsMethodology
About the contributor
In Q1 of 2017 WBR Digital surveyed 100 senior decision makers at major consumer brands in Europe. The research focused on luxury and
mid-market brands in a range of industries including: fashion, cosmetics and perfumes, automotive and electronics, watches and jewellery.
Participants in the research were split equally between Europe’s major eCommerce markets: the UK, Germany, France, Italy and the Nordics.
Our respondents held job titles including: CEO, MD, Director of eCommerce, Head of Marketing and Director of Omnichannel, as well as
others of equal standing.
All interviews were conducted by appointment over the telephone. The results were compiled and anonymised by WBR Digital and are
presented here with analysis and commentary by Worldpay.
In our analysis, we refer to “luxury” retailers and to “mid-market” or “fast fashion” merchants. Participants selected the label which most
accurately represents their business type. The terms “mid-market” and “fast fashion” are used interchangeably to mean the same group:
those who do not identify as a luxury brand, but who also do not identify as a budget retailer.
With an intuitive understanding for the diffculties merchants face in this new world of retail,
Fiona Wijngaards brings her expertise to Worldpay, acting as Payments Consultant in the EMEA region.
Drawing on a background in consultancy, for the past 9 years Fiona has worked to improve the payment
operations for top-tier merchants. Her specialities include managing complex payment integrations for global
luxury and multibrand retailers and advising on regulatory changes and trends in the market.
Fiona has broad experience of providing service to corporate customers in the commerce ecosystem and
an excellent knowledge of the specifc mechanisms involved in payment processing for the retail sector.
02. Introduction
04. Part I: Technology &
innovation in retail:
Who’s really ahead
04. Technology & innovation in retail
07. Luxury v Mi-Market:
Comparative perceptions
12. Part II: Industry view
12. Fashion apparel
16. Cosmetics & perfume
20. Automotive & electronics
22. Watches & jewellery
23. Part III: Technology &
innovation in the future
23. What does this mean
for retail in the future
24. What do retailers need to keep
in mind Luxury and mid-market
25. How can we help
Technology & innovation in retail: Who’s really ahead
Luxury v Mid Market
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Introduction
Brands of all types now realise that creating a cutting-edge eCommerce presence is a not a
“nice to have”, it’s a necessity.
But the form that presence takes and the commercial imperatives driving its development
vary signifcantly, depending on the identity of the brand itself.
Our research shows luxury brands see implicit value in being ahead of the pack, being seen
as innovative, as visionary, and as offering a high-end experience. This is so important for
luxury brands that as many as 90% of the luxury retailers we spoke to saw themselves as
majorly experimental and experience-driven with regard to their online presence.
Where luxury lead, the mid-market are fne to trail – 82% of mid-market retailers see
themselves as followers. So when it comes to cutting-edge online technology, the trend is
for innovation to trickle down.
From this it’s clear that mid-market brands are less concerned with being perceived as
innovators, or experience-driven. For them it’s about fnding ways to increase sale volume
and to beat their competitors by being more convenient, more trustworthy and by providing
more timely personalised offers. For the mid-market, innovation is about maintaining their
brand image and keeping up with the times, rather than being ahead of them.
This mentality isn’t dissimilar from the way the fashion permeates commerce: the top fashion
houses use what comes naturally to them – creativity and experimentation – to design and
display their lines on the runway. Take a look at the fast fashion store eight months later and
you’ll fnd a variation of that line on their mannequins – made more affordably, in bulk and
ready for mass consumption.
Couture isn’t for the masses, it’s for the connoisseur, and so are some of the true tech and
innovation displays coming from the same brands.
Technology & innovation in retail: Who’s really ahead
Luxury v Mid Market
02
Industry key findingsHigh-end fashion is the motor
for inspiration when mid-market
retailers look to implement
new technology.
of Luxury retailers see their retail business
as innovative.
of Fast Fashion retailers see their retail business
as followers.
Selling Fashion
Cosmetics & Perfume
Luxury retailers primarily use personalisation for products.
Mid-Market retailers primarily use personalisation for offers.
Electronics & Automotive
For Luxury retailers, ensuring a seamless payments experience is key — and they endeavour
to employ the latest technologies to achieve this.
For Mid-Market retailers, all interviewees state that the shopping experience is laid out in
stages with adding products to a basket.
Watches & Jewellery
Luxury retailers are using loyalty programs to personalise their product offering.
Fast Fashion are using offers and discounts.
Technology & innovation in retail: Who’s really ahead
Luxury v Mid Market
03
of Luxury retailers believe they are majorly
experimental and experience driven
.
of Luxury retailers look to high-end fashion for
inspiration when considering or implementing
new technologies.
of Fast Fashion retailers see themselves
as followers.
of Fast Fashion retailers only believe innovation
helps to maintain their brands success.
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