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Fulfillment is the key battleground in the transformation of retail for the mobile age. Consumers do not care where your stock is located. What they want is for their purchases to arrive quickly and conveniently.
The fact that 90 percent of store associates are discouraged from possessing a mobile device in-store blows my mind.
Maybe retail is not contracting so much as it is streamlining.
With VIP-like treatment becoming the norm, going the extra mile to engage audiences with a collaborative experience that is tailored to them is even more paramount for luxury brand professionals.
Millennials travel to destinations off the beaten path while working remotely, and document their lives on social media. Experiences make better stories than the items millennials own, whose physical possession restrain them from moving around freely.
Consumer surveys are becoming indispensable in winning trademark litigation.
Forget about artificial intelligence. Most ecommerce Web sites are not even using basic intelligence and tracking tools to show people new choices inspired by their past purchases.
According to the International Trademark Association, more than $460 billion of counterfeit goods were bought and sold last year, mostly online. And the problem does not end with phony goods – sometimes luxury names are used as lures for other kinds of crime, such as credit card theft, with or without delivery of faux items.
They may have less resources, but new luxury brands are rethinking marketing and changing the landscape for everyone.
Driven by a boldly entrepreneurial spirit, today’s young super rich are challenging perceptions of affluence, looking for new values to define their status.
One of the objectives behind conversational commerce is that customers need never know or care whether they are talking to a person or a machine. The need is answered regardless, and the sale is made.
Rather than buy ads that may never be seen, many marketers are reaching out to influencers — people who have built followings on Instagram, Facebook and Twitter. But how can brands find such influencers?
About 6 percent of luxury shopping now takes place at airports, up from 4 percent last year, and the global travel retail market is estimated to grow from $63.5 billion in 2014 to $85 billion by 2020.
Luxury fashion is worth $249 billion (€224 billion). Any way you cut the numbers, it makes a lucrative market for copycats and counterfeiters.
The real problem in the United States luxury market currently is that luxury brands are simply out of touch with the evolving mindset and values of the American affluent consumers.
Where the principles of luxury once centered on extravagance and exclusivity, the focus today is shifting towards self-transformation and wellness.
The demands of modern marketing have exceeded human cognitive capacity.
Contemporary luxury strategy is about creating modern culture by combining identity, speed and community.
Although Generation Z still sounds young — it represents people born after 1996 — it will account for 40 percent of consumers by 2020.
Successfully adapting your high-touch, individually focused in-store experiences to the world of ecommerce is critical, and never as simple as simply offering your wares online.
Messaging applications have more than 4 billion monthly active users, with WhatsApp and Facebook Messenger being the most widely used, with each supporting 1 billion active users worldwide.
