Luxury Daily, November 28, 2017 – Luxury brands failing to retain valuable customers from year to year

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November 28, 2017

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Retail

Luxury brands failing to retain valuable customers from year to year

Luxury brands would do well to cultivate their most loyal customers as new research shows the top 20 percent of luxury consumers can account for up to 50 percent of total brand revenue.

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Strategy

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Never miss a luxury moment. Access the latest luxury business news and analysis, marketing and retail campaigns, features, special reports and live coverage during business hours. Check the $12 for 12 weeks offer for 22 percent off the annual subscription price.

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Luxury FirstLook

Announcing Luxury FirstLook 2018: Exclusivity Redefined, New York, Jan. 17 FREE

Register now for the nation's premier conference focused on how the luxury business will have to evolve in 2018 as the notion of exclusivity through product, distribution, marketing and experience is challenged. Event on Jan. 17 in New York. Speaker list, agenda and registration link in article.

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Strategy

CSR and sustainability: Luxury Memo special report

Ethical and purpose-based business practices are quickly becoming brand identifiers, on par with quality, craftsmanship and service, as luxury buyers turn increasingly conscious of their environmental footprint.

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Webinars

Webinar on Dec. 6: Luxury Outlook 2018: Up, Down or Flat? FREE

Please register for the free annual webinar at 2 p.m. to 3 p.m. ET on Wednesday, Dec. 6: “Luxury Outlook 2018: Up, Down or Flat?” Panelists include experts from the luxury business.

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Apparel and accessories

Tamara Mellon blurs lines of luxury with affordable, installment-based payment plan FREE

Tamara Mellon is aiming to undermine the idea that luxury must be exclusive with a new installment plan created with financial company Affirm that will let lower-income customers afford luxury goods by paying for them over time.

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Media/publishing

Meredith’s Time Inc. acquisition delivers digital-savvy, luxury consuming audience

With Meredith's acquisition of Time Inc., the publisher is gaining a new base of luxury-consuming readers.

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Apparel and accessories

Ferragamo evinces environmental awareness through manmade forest

Italian fashion label Salvatore Ferragamo is demonstrating its commitment to sustainability by planting an urban wood in Florence.

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Luxury Daily Awards

Inviting nominations for the 2017 Luxury Daily Awards FREE

Luxury Daily is inviting nominations for the most prestigious luxury awards handed out annually: Luxury Marketer of the Year, Luxury Retailer of the Year, Luxury Agency of the Year, Luxury Publisher of the Year and Luxury Researcher of the Year.

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News briefs

Time Inc., Bloomingdale’s, The RealReal, Hennessy and royal engagement – Live news

Luxury Daily's live news from Nov. 27 - Meredith looks toward multichannel media growth with Time Inc. deal; Bloomingdale’s blends sparkle, showmanship for holiday displays; The RealReal brings pop-up shopping experience to San Francisco; Marc Newson puts contemporary spin on Hennessy X.O decanter; Prince Harry and Meghan Markle are engaged.

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News briefs

Discounting, Victoria Beckham, Trump and real estate – News briefs

Today in luxury - Luxury brands yield to discounts despite push to stay exclusive; Victoria Beckham raises $40M in private equity investment; Luxury hotel wants to dump Trump name; Hong Kong property developer offers free Teslas with luxury flats.

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Columns

How behavioral authentication can reduce fraud during the holidays

Following this year’s string of breaches and malware attacks, methods such as passwords, pins and fixed physical characteristics such as fingerprints are not enough to secure consumer information.

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