McArthurGlen Co-CEO, Susie McCabe, joins luxury thought leaders at the Financial Times Business of Luxury Summit
McArthurGlen Co-CEO, Susie McCabe, spoke at the Financial Times’ Business of Luxury Summit last week, as part of an agenda full of inspiring talks with leaders in the luxury retail sector.
In a fireside chat with Janine Gibson, Editor of the popular newspaper supplement, FT Weekend, Susie discussed the changing role of outlets in the retail ecosystem, as they continue to shift from a purely discount-driven channel into experience-focused destinations, and highlighted the ways McArthurGlen is rising to meet these evolving customer desires.
During the conversation, Susie touched on the changing consumer perceptions around outlets, referencing the rise of ‘savvy-saving’ trends online as evidence of an emerging new mindset around value: while value has always been emotional, she argued, it is now aspirational too.
Despite this, price and discount are not the only drivers for outlet visitation. Susie expanded on the impact of tourism in cementing the position of outlet centres as destinations in their own right, pointing to the ‘holiday’ state of mind which allows customers to emotionally connect with their purchases. She also stressed that it is the experience – customer service, the quality of products, creating a comfortable environment, a constantly evolving brand mix – that really drives footfall, spend and repeat visitation for tourists and domestic shoppers alike.
For brands, Susie underlined, outlet centres are becoming an essential strategic growth platform, providing a gateway to acquire new luxury shoppers, and in particular Gen Z and Millennials. With many of the brands in attendance stating that younger customers are a top priority for them, outlets have a clear role to play in building relationships with the customer of the future and converting them into full-price brand advocates.