Luxury consumers are changing – they come from all over the world, they are young and they are digital natives. How can luxury brands that have built themselves as pure physical players adapt their business model and practices to address their expectations without abandoning their luxury DNA?
This publication addresses key elements of the digital transformation of the luxury industry. There are important choices to be made in luxury distribution. What are the various models? Do luxury products still sell in stores? What is the concept and design of a luxury boutique of the future? What is best, Online, offline or O2O?
It’s all about knowing and understanding the client and putting the customer back in the center. What are the future ways for customer identification? What are the challenges of offline and online integration? And how should logistics be adapted to the digital culture?
The goal is to make client relationships more meaningful. It is important to understand the customer behavior in the store and online. The importance of stores for building customer relationships must not be underestimated, because a good customer experience builds loyalty, despite the fact that the internet has shattered the traditional sales model.
Have a look at new management tools for luxury stores. What’s the best location for a sales point? What is the toolbox to manage store personnel best? Last but not least: What is a modern financial analysis of sales points, and at what price should products therefore be sold?
If you are in the middle of rolling out your digital customer experience, this book will give you valuable insight.
Luxury Retail and Digital Management, 2nd Edition sets focus on the major retailing challenges and customer evolutions luxury brands are facing today: the digitalization and the emergence of the millennials and Chinese luxury consumers. These major changes have been affecting the distribution and communication channels of luxury brands; they now have to think simultaneously physical stores and e-commerce, global marketing and digital marketing.
Written by luxury retail experts Michel Chevalier and Michel Gutsatz, who lend their solid academic credentials and professional expertise to the subject, Luxury Retail and Digital Management, 2nd Edition provides deep insight into the main challenges that luxury brands are facing in this digital age.
Source: John Wiley & Sons