Cash in the Luxury Sector: Security, Efficiency, and Service Excellence

Continued Growth in the Luxury Retail Market

The luxury sector has seen extraordinary value creation over the last five years. According to McKinsey’s State of Luxury 2025 report, the industry experienced a compound annual growth rate (CAGR) of 5% between 2019 and 2023. This growth was driven by a deep supply of high-end goods and a sustained, global demand for personal luxury items—including jewellery, watches, leather goods, and fashion.

Cash Still Reigns in High-End Retail

While it's often assumed that high-value purchases are made using digital payment methods, this is not always the case. In the UK, luxury retail continues to be a space where cash transactions remain surprisingly prevalent.

There are several reasons for this. Some affluent customers prefer using cash—perhaps as a show of status or simply for the tactile satisfaction of physically handing over notes for a premium item. Others value the discretion cash provides, particularly when seeking to avoid leaving a digital footprint, such as when purchasing a surprise gift for a partner.

Additionally, many high-end retailers are located in tourist hotspots. International visitors often carry cash in sterling, making it more convenient to pay directly without the hassle of currency conversion or using international cards.

Managing High Volumes of Cash Securely

Given these trends, luxury stores often hold substantial amounts of cash on-site. To protect this cash and ensure it reaches the business’s bank account safely, regular collections by trusted Cash-in-Transit (CIT) providers are essential.

However, handling large volumes of currency presents both operational and security challenges. This is where smart safes such as Loomis SafePoint devices offer a critical advantage. These advanced devices automatically count, validate, and securely store cash, reducing the risk of internal errors or theft. They also streamline the reconciliation process, freeing staff from manually balancing tills.

By automating cash handling, smart safes enable employees to focus on what truly matters in a luxury retail environment: delivering exceptional, platinum-level customer service, where personalised attention and discretion are part of the brand promise.

Operational Efficiency and Business Resilience

Beyond security, smart cash management solutions also boost operational efficiency. Features such as real-time tracking, detailed audit trails, and robust indemnification help simplify reconciliation and safeguard business continuity.

Partnering with reliable CIT providers like Loomis allows luxury retailers to stop worrying about cash logistics and instead concentrate on maintaining a pristine store environment, showcasing exclusive items, and providing world-class customer service.

A Strategic Partner in Luxury Retail

At Loomis, every interaction with our luxury retail clients reflects our commitment to security, professionalism, and discretion. Whether it's a confidential collection after a VIP event or scheduled deposits from a flagship location, Loomis helps protect people, cash, and reputation.

For luxury retailers, security isn't just a necessity—it's a strategic asset. By treating it as a core component of the customer experience, brands can reinforce trust, enhance their reputation, and turn protection into a competitive advantage.

Source: https://www.mckinsey.com/industries/retail/our-insights/state-of-luxury