- No categories
The next generation of customers is set to redefine luxury and change the way premium brands do business.
Old rules of prestige brand making – price, provenance, precious materials – are still present, but new ones have established themselves next to them, sometimes in defying opposition.
Once a safe haven away from heavy machinery, manual craftsmanship will nonetheless be affected by the incoming revolution – in new and sometimes surprising ways.
We see a consolidation amongst luxury and fashion players that lets platforms emerge at the expense of the traditionally siloed and brand-specific channels.
Retailers must prioritize mobile, personalization, customer service and a great customer service (CX) as their top digital business initiatives this year. They have to realize a new future.
New purchasing journeys mean new kinds of shopping decisions.
Should we not expect luxury with its better margins and smaller dependency on economic fluctuations to take the lead in adopting new technologies?
This is what shopping has become – streaming retail – and it is a good thing.
Fulfillment is the key battleground in the transformation of retail for the mobile age. Consumers do not care where your stock is located. What they want is for their purchases to arrive quickly and conveniently.
The fact that 90 percent of store associates are discouraged from possessing a mobile device in-store blows my mind.
Maybe retail is not contracting so much as it is streamlining.
Millennials travel to destinations off the beaten path while working remotely, and document their lives on social media. Experiences make better stories than the items millennials own, whose physical possession restrain them from moving around freely.
With VIP-like treatment becoming the norm, going the extra mile to engage audiences with a collaborative experience that is tailored to them is even more paramount for luxury brand professionals.
Millennials travel to destinations off the beaten path while working remotely, and document their lives on social media. Experiences make better stories than the items millennials own, whose physical possession restrain them from moving around freely.
Consumer surveys are becoming indispensable in winning trademark litigation.
Forget about artificial intelligence. Most ecommerce Web sites are not even using basic intelligence and tracking tools to show people new choices inspired by their past purchases.
According to the International Trademark Association, more than $460 billion of counterfeit goods were bought and sold last year, mostly online. And the problem does not end with phony goods – sometimes luxury names are used as lures for other kinds of crime, such as credit card theft, with or without delivery of faux items.
They may have less resources, but new luxury brands are rethinking marketing and changing the landscape for everyone.
Driven by a boldly entrepreneurial spirit, today’s young super rich are challenging perceptions of affluence, looking for new values to define their status.
One of the objectives behind conversational commerce is that customers need never know or care whether they are talking to a person or a machine. The need is answered regardless, and the sale is made.
Rather than buy ads that may never be seen, many marketers are reaching out to influencers — people who have built followings on Instagram, Facebook and Twitter. But how can brands find such influencers?
