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Luxury retail experience. Decisive preference shaping in a post-crisis enviroment. Gone are the days of demographics. Current trends. favorite brands, but want them at lower prices product innovation cause marketing Multi-channel relationship - PowerPoint PPT Presentation
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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