Online luxury retail is far from dead, and the desire for luxury goods among aspirational customers is still strong, according to British mass-market retailer Next. The retailer recently launched a premium e-commerce site called Seasons, which will feature contemporary and accessible luxury brands like Ganni, Coach, and Marc Jacobs that are not typically found on the Next website.
Research conducted by Next revealed that 87 percent of women outside of London feel underserved by the luxury sector, and Seasons aims to address this gap in the market. The brand director of Seasons, Jade Taylor, who has been with Next for two decades, believes that there is a demand for more premium brands among their customer base, which sees £1 billion in annual turnover.
Seasons is targeting a female millennial consumer who leads a busy life and is looking for a curated selection of luxury brands that are not readily available in their region. The site aims to provide consumers with the best pieces from various brands and offer styling guides to make the shopping experience easier.
While there have been comparisons to other luxury retailers like Flannels, Taylor emphasizes that Seasons is focused on serving their existing customer base and introducing new brands to cater to their needs. The site has received positive feedback from brands and is in talks with luxury superbrands like Kering and Richemont to expand its offerings in the future.
Despite the challenges faced by the online luxury retail sector, Next believes that now is the right time to launch Seasons due to the success of their higher-priced items and the loyalty of their customer base. The backend operations of Seasons are supported by Next’s infrastructure, allowing the team to focus on brand curation and product selection.
Seasons operates on a wholesale basis initially, with plans to potentially move to a commission model in the future. The site aims to maintain a full-price strategy to ensure profitability and brand integrity. While the current focus is on the online platform, there may be opportunities to expand into retail stores in the future based on the success of the online venture.
As Seasons continues to grow and learn about consumer preferences and brand partnerships, the team remains open to the possibility of expanding into physical retail spaces. For now, the focus is on providing a unique and curated luxury shopping experience for the aspirational customer.