Deloitte’s 2020 Retail Industry Outlook notes that beyond price and product, retailers today are differentiated based on the marketing of their services, such as shipping speed and buy online pickup in store. A key opportunity for luxury retailers is consumers’ willingness to pay more for convenience.
At the start of the new year, chief executives around the world are feeling unsettled and most anxious about the possibility of a recession in 2020.
Sustainability is 2019 Luxury Word of the Year for its vast influence on luxury brands’ strategies and philosophies, spanning sectors and supply chains. Inclusivity and transparency were runners’-up.
In the four years since LVMH appointed Ian Rogers to its chief digital officer role, has the former Apple executive managed to help the group transform itself into a digital leader in the luxury space, or is there still a long way to go?
In 2019, the home category continued to embrace digital disruption via ecommerce sales, rentals and connected furniture.
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The global high-net-worth population represents only 0.1 percent of the global adult population, yet it commanded over one-fifth of the world’s total wealth in 2018.
Given that businesses need to focus on both online and offline sales these days, it has become increasingly difficult to identify which area is more competitive.
