- No categories
Well into 2017, marketers have yet to properly understand mobile.
The luxury market, like many industries, is affected by the rapid shift to intelligent versus smart devices and systems.
Everything from consumption behavior to consumer empowerment has permanently altered the industry landscape, and brands are left asking themselves increasingly difficult questions.
Loyalty is to the channel, not the brand – a sad reality of today’s technological world.
Since the bulk of expenditures at retail, including luxury indulgences, is funded by income, not by wealth, the picture emerging from the first-quarter results signal caution for marketers looking for organic growth in the market.
For a churn-and-burn consumer culture that is obsessed with the hottest, newest and latest, we sure are clinging to the past these days.
Attrition rates of generational wealth are shockingly high. How can a family protect its wealth for the next generation and beyond?
Shopping for clothing, handbags, shoes and jewelry has moved online faster than retailers have been able to adapt to the change.
Your Web site is your flagship, the public face of your brand. But are you doing enough to help potential customers find it?
Big brands including Longchamp, Chanel and Montblanc have been coming up with creative initiatives that use the diverse features enabled by the WeChat application to nurture a new following and engage with existing users.
There is no question that mobile is hot: in fact, 20 percent of people ages 18 to 34 only use mobile channels to search for information, complete purchases and check email — and are not using desktops or other platforms, according to comScore.
Luxury brings with it changes, challenges and uncertainties, as well as the occasional cyclic returns of older trends: it is all of this that makes luxury so enigmatic, and so often beyond our grasp.
The venue is the first thing your guests will see when they arrive at the event.
While the decline of bricks-and-mortar may seem inevitable, given the popularity of online shopping, many consumers actually prefer the in-store shopping experience. This begs the question of what bricks-and-mortar retailers are doing to lose these customers, or perhaps what they are not doing to retain them.
In recent years, two closely related yet competing global trends are on the rise and weighing on luxury brands.
A watchmaker’s legacy, a jeweler’s century of craft or a couturier’s hallowed grounds no longer command the authority they once did.
According to Buckminster Fuller’s “Knowledge Doubling Curve,” human knowledge doubled approximately every century. Today, it is estimated that human knowledge is doubling every 12 to 13 months. IBM is estimating that with the build-out of the “Internet of Things,” knowledge will double every 12 hours.
Social influencers are determining which brands are sought after and which are considered to be too elitist, and luxury brands need to take note or risk being left behind.
While the outlook for luxury brands in terms of sales growth is positive, there is a darker side to the story that comes in the form of counterfeit goods.
Too often, attempts to rethink retail for the digital age stop at marketing—but there are many other aspects of the shopping experience to transform.
The real reason see-now, buy-now will not stand the test of time is that it is inconsistent with luxury brand marketing strategy.
