Retail therapy

I'M WELL aware of what the expression "consumer confidence" means in business terms and how it affects the retail industry.

editors letter

I'M WELL aware of what the expression "consumer confidence" means in business terms and how it affects the retail industry.

But to be perfectly honest, I think it relates to much more than just the state of the economy, job security and the spectre of rising interest rates. It has a lot to do with the retailers themselves. If you want people to spend time and money in your store then you need to: (a) make it look like a place people would want to be in; (b) make the merchandise look fabulous, even if it isn't; and (c) have knowledgeable, charming and polite people working there to help customers part with their money. It's not rocket science, it's retail.

And what it all comes down to is customer service (of the good variety, that is). It's a point that was brought home to me recently on a trip to New York City, arguably the most important retail market in the world. Selling things is an art and the higher the pricepoint the more refined the art.

Take Tiffany & Co, one of New York's better known retailers, as an example. This year the company celebrates its 175th anniversary, which is an impressive milestone for any business. For this issue, our fashion team was given exclusive access to some of Tiffany's most precious items of jewellery for our fashion shoot, which starts on page 74. We also had a tour of the brand's latest concept for selling one-of-a-kind pieces of jewellery, the sort of things that have prices in the millions.

The Tiffany Salon is on the mezzanine level of the company's Fifth Avenue flagship store and has been designed to look more like a luxury Manhattan apartment than a retail space. It's spread over several rooms, has comfortable furniture, a changing area (presumably to see what your new jewels will look like with a certain outfit), a fully stocked bar and so on.

The idea behind the space was not just to give Tiffany's top customers some privacy but also to create a respite from the bustle of Fifth Avenue and to make the business of dropping millions on what is, after all, a non-essential purchase as pleasant as possible. And it works. The by-appointment-only service is virtually booked out until the end of the year.

Admittedly, not every retailer is trying to get their customers to part with a small fortune but they could learn a lot from the Tiffany experience. Getting people to come into your store is one thing, keeping them there and selling them something is another thing altogether.

Speaking of parting with a small fortune, this issue also includes our annual look at the best supercars for the coming year. If you're in the market for a new Aston Martin, Ferrari, Rolls-Royce or even just a humble Range Rover, you will want to read our motoring editor Philip King's rundown on these and other marques. It begins on page 24.

We hope you enjoy the issue. Until next time you can find us at our Facebook page at facebook.com/wishmagazine

David Meagher
Editor