News Analysis: Budapest, Hungary, Luxury Retailers Seek Location, Location, Location (LLL) in their constant quests to Improve their “Market Shares” of the luxury business in the City.
These ‘High End’ Retailers do not just rest on their Fine Reputations, but will, if necessary, seek Clientele better suited to the Specific Markets by moving their stores to those customers’ shopping locale.
‘LLL’ serves a Retailer best by: Determining ‘Class Levels’ of customers in a City; Understanding their needs relative to the line of products being sold by that particular Retailer; Finding their “Shopping Whereabouts” location-wise in Budapest; and, erecting a ‘suitable’ store for that level of customer (at the ‘Proper Location’).
Luxury Retailing is just not about selling an item but perhaps even more important is ‘Selling the Psychological Sizzle” of that item AND the ‘High Esteem’ of the Seller. An “Effective” Retail Location sends a Subliminal Message to “Wealthy” Customers: “Look No Further. Purchase it here.”
Reality.
Reference: http://www.bbj.hu/budapest/on-the-state-of-andrassy-hungarys-champs-elysees_72919