- No categories
Although the last several years produced many naysayers who predicted that online sales and the pandemic would bring about the death of bricks-and-mortar retail, they were mistaken – at least at this moment.
Luxury brands on the vanguard of this new paradigm have found opportunities to navigate the paradox of attempting to be both exclusive and available, timeless and innovative.
Whereas luxury, in previous decades, was about exclusivity and conveying wealth and status through the object or logo itself, young luxury consumers today are public and open about their consumption habits and eager to share.
Up to 95 percent of all luxury purchase decisions are formed during the digital journey, making all digital brand touch points the new moments of truth.
As we have learned in the last two years, change is always right around the corner, and 2022 will be no different.
Taking advantage of hot demand for certain products, the smartest luxury retailers analyzed pricing, inventory and demand trends to stay ahead of the market, confirming the consumer’s willingness to pay full price.
As we move into 2022, you can expect to hear more about the metaverse and its potential impact on the business world.
With the ecommerce influx of the past year-and-a-half, it became infinitely clear that the category, as a whole, must now become more acute at selling directly to the consumer and doing so online.
Shifts in the market have accelerated and luxury brands are transforming from makers of products to purpose-driven actors in the push for a more sustainable, diverse and equal society.
More than ever, brands are competing for the same client. One thing is crystal clear: establish a genuine connection with clients or risk becoming irrelevant.
The recent annual McKinsey & Co. report, The State of Fashion 2022, outlines major trends that the industry will face in 2021 and suggests strategies to deal with them.
Branding – once an exercise that involved plastic signs, billboards and newspaper print ads – has now firmly taken up residence in the world of bits, bytes, smartphones, wearables and, occasionally, a desktop computer.
Most ecommerce businesses rely heavily on advertising to draw customers to their Web sites and, in the case of retargeting, remind them of past visits or past purchase intentions.
The buying behavior of consumers has changed with the pandemic.
A growing number of young Indian consumers are now making more informed decisions. They show concern for society and environment while making product choices.
New regulations that aim to address financial disparity and personal privacy in China could have a major impact on international sales for luxury brands.
Attention spans and anxiety levels are being stretched, but the most basic and effective form of communication is also the most overlooked.
Gen Z is the youngest, most ethnically diverse and largest generation in American history. They make up 27 percent of our population.
Luxury businesses need to find ways to offer the same personalized experience found in physical stores, while catering to the growing demand for digital shopping options.
How can trademark law be used to control to whom and where luxury and fashion branded products are sold?
Early shoppers, a shortage of repair pros, in-store returns and logistical costs all loom.
