According to recently compiled data, acquiring a new customer is five times more expensive than retaining an existing customer. Yet, 44 percent of companies admit they “have a greater focus” on acquisition, while a mere 18 percent focus on retention.
Sales of prestige fragrances are expected to continue their upward trajectory this holiday season, following growth during other major gifting periods of 2018.
Boston Consulting Group is Luxury Daily’s 2018 Researcher of the Year, selected for its innovation and ability to pinpoint new, unique trends, spanning numerous sectors.
Rainer Zitelmann undertakes a groundbreaking study of the psychology of the super rich.
A new class of affluent consumers means luxury sectors are experiencing several changes, including growing appreciation for experiences rather than goods, amid a period of strong growth.
Despite the potential of leveraging consumer insights to guide merchandising decisions, many retailers are failing to effectively incorporate shopper data into their planning stages.
Messaging and conversational experiences are gradually transforming every aspect of the human-computer interface.
Luxury consignment platform The RealReal and fashion label Stella McCartney are strengthening their partnership to exhibit the opportunities resale platforms offer.
Exclusivity is a pillar of luxury, and new research suggests that people as young as 6 can show a preference for scarce over abundant goods.
The Facebook-owned social network has been focused on building out its capabilities over the past few months, unveiling two new ecommerce-focused features in September and adding three more last month.
