- No categories
For nearly four decades I have had the privilege of selling precious tangible assets to an ultra-high-net-worth clientele. From a client base of a few dozen in the San Francisco Bay Area, our clientele now resides on five continents and includes more than 75 Forbes’ list billionaires.
Luxury travelers are increasingly more conscious of their environment, motivated by the internal journey that accompanies these types of personally relevant physical experiences.
There are technologies in the market to help aid in personalization relating to brands knowing what products to show the consumers, how quickly you see a product on a page, and in what order to show certain products.
Canada is becoming home to a rapidly increasing population of affluent residents, with growth surpassing that of the United States.
While neither company is in the luxury goods space, the legal issues at the base of the suit are the same, and important for luxury goods companies to consider.
Once GDPR goes into enforcement, financial penalties for non-compliance become severe – severe enough where offending companies can face fines of up to 4 percent of their global revenue, or 20 million euros, whichever is greatest.
In 2015, as a long drought gripped Southern California, owners of larger properties in Beverly Hills and Bel-Air came under fire for the sheer volume of water used to maintain their estates.
According to Google, the majority of consumers within the luxury market performs their product and services research online. At the same time, these buyers tend to make their purchases in bricks-and-mortar stores.
There were a few clear themes that continued to bubble up in conversations, lectures and events during my time at the World Economic Forum in Davos, Switzerland.
Today’s luxury consumers demand levels of customer service and convenience so extreme that it is fast becoming difficult to distinguish between the start of product discovery, purchase moment and the private life of the shopper.
In the past, we relied on lead generation and nurturing campaigns to generate revenue. As technology began to affect the way consumers interacted with brands online, that lead gen dropped – noticeably.
Tax cuts will consistently increase discretionary spending for high-income earners. It is projected that tax cuts will bump disposable income from 1 percent to 3 percent with this demographic.
We are seeing a change in the modern consumer that our current brand frameworks are not capable of addressing.
The impact that returns are having on retail is massive.
Too many luxury brands are not thinking about the technology. They are thinking about product, which is important, but they have to understand how their brand is being consumed differently than it used to be consumed.
Retailers would tell you that digital technologies have disrupted the business, then go on to add that millennials are proving a tough demographic to crack. And all of this is absolutely correct, but the picture is far more nuanced.
According to a recent survey, consumers are shopping online almost as much as they are shopping in retail stores.
Over the past year, on a national level, the accessories market has been a highly challenged market, specifically among multi-brand wholesale retailers within the U.S.
The massive in-store promotions industry is ultimately going to be dwarfed by out-of-store sampling.
The issues of infringement raised by the case include whether Gucci will be able to establish consumer confusion, either at the point of sale or in the post-sale context, whether Forever 21’s house mark dispels confusion, and whether there is a claim for trademark dilution.
An overview of the new E.U. legislation, its key changes compared to the current directive and the implications of the new data protection regulation for the retail industry, as well as how retailers can prepare and respond to the more stringent regulatory provisions.
