Luxury retail experience

LUXURY RETAIL EXPERIENCE

Decisive preference shaping in a post-crisis enviroment

GONE ARE THE DAYS OF DEMOGRAPHICS

• longer decision making process • rational and logical decisions

functional: superior

functionality and quality.

• desire to be successful and demonstrate this to others.

• ‘smart’ luxury demonstrates importance

reward: showcase their achievements.

• willing to pay a premium: goods express themselves.

• They enjoy luxury for the way it makes them feel

• more emotional approach to purchases.

self-indulgenc

e.

CURRENT TRENDS favorite brands, but want them at lower

prices  product innovation cause marketing Multi-channel relationship accessible, while retaining a brand's

mystique

SEGMENT 1: DISCOUNT… BUT NO.

Dilemma of perceived vs. actual value

•Explore the gap

Rewards •Money value•Personal value

Educate customers about

the reason behind paying price

•Staff is essential

SEGMENT 2: IMAGE, IMAGE, IMAGE

Customer coaching

Quality of staff

Styling

SEGMENT 3: CREATE VIP’S

Create occasions

Communicate

Offer entry points

1.LEARNING ABOUT THE BRANDOR NEWS

What kind of

promotional strategy?

Same, clean

look of ads

Buzz marketi

ng

SMART CONTACT Preference for e-mailing Personal reward is important Personalization of message Have them attend an event rather than

a promotion Successful retail locations operate on an

event-based marketing scheme. Novelty and innovation need to be

communicated

2.LOCATION, LOCATION, LOCATION

Inspire lifestyle

Connect to senses – furniture, art, light,

music, scent

Visibility and character of the signage

3. MEANINGFUL PRODUCT

product

Less is moreAvailability of options is

keyDid they learn

anything new?

4. INSPIRING SERVICE

memorableStaff: brand

related. Knowledge. Pleasant.

Consultative selling: offer the options.

Handle objections. Support the decision.

Emotional intelligence: know when and what to say or not.

WILL THEY COME BACK?

LET’S TALK