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The business of artificial intelligence used in marketing is still a new concept.
The following three strategies can help companies transform their brands and redefine how they connect with the modern consumer across their lifecycle, spanning pre- and post-purchase, and building long-term loyalty.
Luxury Daily is inviting opinion pieces on luxury business, advertising, marketing, media and retail issues that affect marketers as they run multichannel programs for branding as well as customer acquisition, retention and reactivation.
From Burberry’s recent announcement to stop burning unsold goods, to major watch and jewelry companies turning to lab-grown diamonds, time and time again we hear companies talk about sustainability in terms of “going green.”
Research shows that across sectors, what makes consumers lose trust in brands – and, therefore, become less loyal – is poor product quality, followed by price increases and poor customer service.
More luxury brands are diving into the world of hospitality in a continued effort to reach out to customers who value experiences over anything else.
Industry heavyweights such as Gucci and Prada have done it. But is the world ready to subscribe to ideals put forth by artificially constructed individuals?
Luxury buyers want the brands they use to reflect their concerns and aspirations for a better world.
India is a long-term play. A luxury marketer needs to be patient, keep controls in place and let the brand–customer relationship evolve.
It likely comes as no surprise that approximately one-third of all clothing and 70 percent of all footwear sold in the U.S. come from, or are manufactured, in China.
An increased amount of advertising dollars are being allocated to influencer marketing, and with good reason. It emphasizes the influencer rather than the entire target market
Nine macro-demographic shifts are shaping the destiny, opportunities and challenges for retailers. Retailers cannot escape them.
Brands will need to develop immersive storytelling to continue attracting customers.
Luxury goods companies are usually the victims of knockoffs and infringements – an expensive fashion item is copied by a cheap imitator. However, an interesting twist has come up in a recent copyright suit against Kering’s Balenciaga brand.
As we watch the evolution of the shopping mall, its format is moving back toward Victor Gruen’s original vision from 1956, where many malls are now evolving again to become mixed-use, live, work and shop, retailtainment centers.
It would be surprising if GDPR did not affect CPM rates, but so far it is too early to judge if the trends are permanent.
To succeed in today’s retail environment, retailers need to figure out ways to differentiate themselves – to do what Amazon cannot do.
Affluent Republicans buy luxury to reinforce their social standing, but not specifically to elevate it. Democrats show no such inclination.
AI machines are great at sifting and sorting through incredible amounts of data for programmatic advertising. But will AI learn to create stories using human emotions in ads?
When a luxury brand is seen and available everywhere, its luxury value – its authenticity as true luxury – becomes diluted.
In light of the dust settling post-GDPR, now is as good time as any to reflect on what the new loyalty gold standard looks like.