Western brands should pay attention to consumer behavior in China, which represents 15 percent of the luxury market, and focus on strategies such as chat assistance, online reviews, multi-pay, mobile communication and fast delivery.
NEW YORK – Luxury retailers must learn to shed their long-standing store operation strategies for one that incorporates digital and blurs offline and online to cater to the new consumer, says a Microsoft executive.
Today in luxury marketing – Melania Trump turns to Ralph Lauren for inaugural week fashion options; Luxury fashion designers struggle to adapt to digital era; Dior CEO on Maria Grazia Chiuri’s debut; Rich Chinese, inspired by “Downton Abbey,” fuel demand for butlers.
NEW YORK – A Webby Awards executive at the Mobile Marketing Association’s SM2 Innovation Summit stressed the importance of standing out in the digital realm now that consumers, brands and small businesses alike all have access to the same content creation tools.
This will very likely go down as the year of the Great Fashion Week transformation.
Marketing cycles continue to get shorter as the number of marketing channels expands. It is no longer enough to show and tell.
As luxury is the segment most dependent on stores for the first purchase of a particular brand’s line, the decline in store traffic will continue to hurt luxury sales disproportionately unless many necessary steps are taken.
There seems to be a common understanding among luxury brands that high-priced items are not going to thrive online and that using an ecommerce platform may even devalue products.
As they make their shift toward digital-centric business, luxury brands should pay attention to these emerging four major themes.
Ecommerce sales have brought the luxury goods industry to a tipping point, according to a new report by L2.