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The use of AI in marketing should be approached cautiously by companies in the luxury space.
Recognizing the need for immersive and engaging shopping experiences, luxury brands are embracing technology-enhanced experiential retail.
Consumers have become increasingly interested in wellness for many reasons, but two in particular have furthered the intersection between luxury brands and wellness.
In a compelling six-month exploration, Affluent Consumer Research Company delves deep into the professional lives of these high-net-worth individuals.
Understanding the effect of unionization on the workplace is of paramount importance.
Amazon accounts for 36.9 percent of all online sales but ecommerce only represents 20 percent of all retails sales in the United States, so, by increasing its store presence, the retailer can increase revenue.
Bain & Company projects that the luxury goods market will continue to experience positive growth, rising by 60 percent in value by the end of the decade.
Successful niche luxury brands are required to be unique, innovative, insightful and hyper-segmented.
The utility of AI in its current iteration is quickly becoming apparent in everything, from more sophisticated digital advertising and testing to content generation.
Brands and retailers understand that they must deliver the same premium experience online that shoppers would get in a physical store to capture loyalty.
How can brands now differentiate authentic purchases from these near-mirror images and make their authentic offerings more appealing, and justify the price premium of going legitimate?
Google is sunsetting Universal Analytics for non-360 accounts July 1 to spur the industry to adopt GA4, which has been out of beta since 2020 and provides higher quality, more reliable data for marketers.
Myths abound with respect to the definition of luxury and luxury’s best customers.
While marketing is starting to embrace data in new ways, creative is often last to the party. And even those visionary marketing leaders who are looking for data-driven creative talent are unlikely to find it.
From Alessandro Michele’s Gucci collection, adorned with tigers and butterflies to Dior’s embellished saddle bags and Jennifer Lopez’s jungle-print Versace dress, all were handcrafted in India by the country’s coveted artisans.
U.S. legislators believed that consumers suffered considerably from fraudulent online sales during the COVID-19 pandemic.
Luxury brands are particularly vulnerable to bank collapses because without the debt financing that they offer, they may be left with little options to support their businesses.
A majority of affluent consumers are signaling that they will maintain their current levels of luxury spending, and one-fourth even said they expected it to increase over the next 12 months.
Now that China has lifted the remaining COVID restrictions and reopened its borders, we may see another wave of revenge buying drive global luxury sales, and influencers will be in the driver’s seat.
A simple look at Silicon Valley Bank’s internal investments paints a picture of a bank that put too many eggs in the proverbial basket.
There are some major developments that retailers are watching from the United States’ National Labor Relations Board in the coming months.
