Luxury Brands Must Develop Their Customer Experience To Survive - 4 views
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Luxury retailers must focus on providing a rounded customer experience, rather than simply flogging goods, if they are to survive the ongoing recession.
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brands must improve to keep their customers happy.
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consumers want "intimacy, meaning, story, quality, provenance and a true sense of wonder",
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This article details the struggle that luxury retail stores are having with providing a "personal customer experience." Because the products are so high end, they are expecting that aspect to talk for itself; however, customers are wanting a more personalized experience than what these stores are giving them. What do you guys think about this? And also how do you feel about the technology aspect they talk about in the end?
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I believe that if I am going to spend a lot of money on an item, I should get treated with high end customer service.This is a reason why a lot of top brands have personal shoppers, because they know their target customer is willing to spend a lot of money for high quality goods. It is also important for high end retailers to display the value of their goods through the value of their store, even if it means dishing out a lot of money for renovations. Burberry is on the right track with integrating technology into a store that would not normally have this kind of technology. This technology gets the customer more involved in their shopping experience instead of just browsing around the store.
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These luxury brands will not die. They may not be making the revenue they desire but they will not disappear. My mother for example has more of these items them I care to know. It is people like her that will keep this industry from disappearing. However with the economy it will be difficult to find new customers. But yes making the customer experience more personable will continue to bring the already loyal customers coming back. I do believe those five things they are going to change will help. But it will not necessarily bring in new customers.