Back
~
2
min read
· Posted on
February 21, 2024

Selfridges is introducing in-store sex therapy and drug-free psychedelic trips and um...what?

Selfridges is the UK's high-end department store chain that stocks famous luxury brands like Alexander Wang, Balenciaga, Chanel...that $$ stuff.

What's the key learning?

  • Selfridges is going to offer sex therapy and drug-free psychedelic trips in-store...with the hopes that it entices people to visit
  • COVID saw the number of visitors to Selfridges' physical stores tank, and sales took a hit as a result
  • Now, retailers like Selfridges are choosing to offer additional services and experiences to get people back in and sales back up. 

Background: Selfridges is a chain of high-end department stores across the UK. It was founded back in 1908, and now stocks famous luxury brands like Alexander Wang, Balenciaga, Chanel...that $$ stuff.

What happened: COVID saw the number of visitors to Selfridges' physical stores tank, and sales took a hit as a result. But now, Selfridges (which btw, doesn't sell fridges) has a plan to get foot traffic back up.

What else: Selfridges is going to offer sex therapy and drug-free psychedelic trips in-store...with the hopes that it entices people to visit.

So what's the key learning? 

💡The pandemic completely upended how many industries operate, but none more so than the retail industry. So, big bets are sometimes required to get people back in store.

💡While some retailers have responded by increasing their investment in technology...it ain't a foolproof solution. Over 85% of retail still happens in physical stores. And 75% of shoppers are likely to spend more after receiving high-quality service. 

💡So, retailers like Selfridges are choosing to offer additional services and experiences to get people back in and sales back up. 

Ready to win at money?

Sign up for Flux and join 100,000 members of the Flux family

A button to App StoreGoogle Play store button
Excellent  4.9 out of 5
Star rating
No items found.