- No categories
Brands have struggled to catch up with the connected, modern luxury customer, as the mechanisms they relied on to build exclusivity have disappeared.
Just in: brand focus is not on the end customer, but on the communities to which they belong.
There is no question about it: brands looking to thrive and even just survive in today’s market are those that understand the millennial consumer. However, not all millennial consumers are created equal, especially when it comes to income and potential spending power.
Even though we now live in a digital world, most luxury goods and services brands operate like Industrial Age pipelines with rigid linear processes and high fixed costs.
In today’s COVID-19 environment, storytelling becomes increasingly important.
As social distancing becomes the new normal throughout the United States and the world, professionals across industries are making drastic and immediate changes to their work and presentation styles.
The streaming music platform should serve as a role model when it comes to data privacy compliance and user choice.
As the world pauses for COVID-19, luxury brands have an opportunity to design, implement and diffuse digital technology throughout their organizations.
Mission critical elements of operational agility and what they mean for individual businesses and industry at large in the post-pandemic era.
Drastic economic, cultural and social shifts bring upon novel needs, desires and even aesthetics. In a time of paradigm shifts, new categories capitalize on cracking niches in the cultural fabric.
Challenging times are opportunity disguised as problems – and brands must act fast. Brands need to be as useful as possible by combining purpose + practicality + creativity.
Only six weeks ago, there were many ways to view the brands in your life. There were business-to-business brands and business-to-consumer brands, vertical categories and all kinds of ways to categorize them. Now there are just two: vital brands and non-vital brands.
Nowadays, with the help of artificial intelligence, the customer is in control: able to research, ask questions, receive support and, in some cases, even purchase 24/7 without human intervention.
On April 2, the Court of Justice of the European Union (CJEU) ruled that online marketplace Amazon was not liable for trademark infringement for stocking infringing items for third-party sellers. The opinion failed, however, to address whether Amazon’s deeper involvement in many sales could be a basis for liability.
As the opt-in nature of marketing continues to increase, brands will need to offer the consumer more reasons to interact with them.
Seventy-one percent of consumers report “quality of offering” as the greatest decider of loyalty, meaning a company with a quality product succeeds where a company that only has discounts on inferior products cannot.
With all face-to-face interaction currently replaced by technology, how can managers maintain their relationships with their team members?
When we begin to see a turn in the COVID-19 pandemic, the most important responsibility for business leaders will be to prepare a game plan towards full recovery.
Reduced consumption leads to a decrease in the number of purchased advertisements.
It is impossible to discuss all aspects of the 880-page U.S. CARES Act in a short article, but a few sections may be of interest to the luxury market, particularly as they relate to their sales departments.
Fueled by access to the Internet and international trends, aspiring Indians want enhanced experiences that make their lives better. Cash-rich, time-poor middle class and upper middle class Indians are driving the rise in spending across categories.
