The week in Cannes for the TFWA World Exhibition always goes fast, but this year felt more like a return to the numbers and excitement of the pre-pandemic days. It was, for me and the 2.0 & Partners team, a great week, and I would like to share with you some of my key takeaways and talking points from our industry’s biggest event of the year.
1. Shopper experience
For a long time now, I have been among those calling for a focus on experience rather than in product, in both the travel retail and luxury sectors, but this year it was a call I heard echoed in more places. The travel retail market has a great opportunity to craft special and unique spaces and experiences and I am heartened that for the first time this year, the industry seemed to have this front of mind.
2. A broadening global focus
Is the tunnel vision on China really finally over? So many of the conversations I had included an admission that China remains and will be a challenge for a long time. This is still a vital demographic of shoppers to engage in the right way as they return, but 2024 in Cannes is the first time I have heard proper discussion of new opportunity markets such as India, Vietnam and – in the longer term – Africa.
3. The value of value
In a challenging world, many shoppers recognise the value of value – we heard that from the TFWA President as he addressed the conference on Monday. Value is a key part of the travel retail ecosystem, and one which is vital in the eyes of shoppers.
4. A drive for true sustainability
In some ways, sustainability was less obvious this year. Fewer brands has huge claims plastered over their stands, but discussions around the topic were more in-depth and honest. Companies have finally recognised that less plastic is not sustainability innovation, and that real wholesale change is needed.
5. The new generation
From retailers to brands and across family-run and long-standing businesses, another generation of leaders is starting to take the helm and shape the market. This can only be good news as a new generation of shoppers emerges with an evolving set of demands.
6. The human touch
People, people, people. From Brand Ambassadors delivering dedicated education and discovery tours for shoppers, to in-store staff who can guide and assist, the focus on the power of our frontline stall has almost never been bigger – and that is excellent news of our people industry.
7. The power of data & training
More and more companies too, it seems, are beginning to recognise the importance of fully training these staff with dedicated and data-driven insights which are tailored to suit the needs of their specific shoppers. This is a vital part of the market and one which we at 2.0 & Partners fully believe in – there is also so much more to do.
8. Creating space and opportunity for new players
The TFWA World Exhibition always presents a variety of brands and this year was no different. But each time it underlines the vital need for the market to craft spaces and opportunities for these new players. Variety can only excite and engage shoppers, who frequently seek out newness and discovery. We are beginning to reassess our use of space, but we must also look at what we put in it.
9. The importance of history
This year was 40 years of TFWA, there were also many other landmark anniversaries being celebrated. Not least among these is out own here at 2.0 & Partners, where we are proud to be celebrating our 10th anniversary. However, there was also a drive, particularly among luxury brands, to underline their history and engage shoppers with their heritage. This, for me, is essential in creating a tailored, personal and authentic brand experience.
To add to my point on the value of people, I would mention teamwork. This was the first year in many we have had fuller team in Cannes for 2.0 & Partners. This is a global business and we are a global company, so it is necessary that we are spread across the world. But nothing beats face-to-face, whether that is with customers or colleagues, and I was delighted to be walking Cannes alongside by my 2.0 & Partners colleagues Fabio Bernardini, Vittoria Passoni, Sergei Bozhok and Chris Madden. It is the people which make this industry special.
