Tuija Nuutinen, Ph.L.’s Post

In the GCC region, luxury is pervasive and can be attributed to a growing high-income population driving demand. “The luxury retail segment is perhaps where the pressure to create unforgettable experiences is the greatest,” says Laith Al Bazirgan, Head of Retail, MENA, Endava. “The primary motivation behind a lot of this integration is branding. By blending digital and physical realms, brands enhance their image and authenticity,” says Jason Blunden, Group Director of MEDIACUBED The Creative Group, a creative agency and production house. Lisa Lee, vice president of Perfect Corp., says AR technology is at the heart of many successful “phygital” initiatives that hundreds of brands have adopted to deliver a personalized beauty consultation experience proven to build brand loyalty, increase customer satisfaction, and drive sales. Read more: https://lnkd.in/gnGdA4ji

Delivering high standards in luxury retail involves several key strategies: 1. Exceptional Customer Service: Personalized experiences, well-trained staff, and VIP treatment. 2. High-Quality Products: Focus on craftsmanship, exclusivity, and attention to detail. 3. Elegant Store Design: Create a luxurious ambiance with sophisticated décor and advanced technology. 4. Brand Storytelling: Communicate the brand’s heritage and values through content and exclusive events. 5. Omnichannel Experience: Ensure seamless integration across online and offline channels with personalized services. 6. Customer Relationship Management: Develop loyalty programs, gather feedback, and offer excellent post-purchase service. 7. Sustainability and Ethics: Promote ethical practices and transparency in sourcing and manufacturing. 8. Innovation and Trends: Stay current with trends and introduce innovative products. 9. Exclusivity and Scarcity: Offer limited editions and special collaborations. By focusing on these elements, luxury retailers can provide exceptional experiences and maintain a prestigious brand image.

"Équité Research foresees a significant upheaval in the luxury brand landscape, estimating that half of the current esteemed names may vanish by 2030. The era of business as usual is rapidly fading, making it imperative for luxury brands to embrace a future shaped by social and cultural change, fueled by purpose and responsibility. In navigating this global transformation, brands must ask themselves: How can they position themselves among the 50 percent that not only survive but thrive in 2030?" Every couple of months I meet with a former colleague and friend to discuss the state of affairs in Luxury retailing. We both agree that in times of global transformation, the luxury sector has proven to be a resilient segment with luxury brands adapting well to the changing environment. Moving into the future, we think that the brands that will thrive and survive will be the ones that emphasise on customer service, putting people and purpose at the heart of everything they do; whilst responding proactively to sustainability factors, digitalisation and shifting consumer values. Michaela Christine Wolf is an accomplished Management Consultant, Coach, and Luxury Marketer with a rich tapestry of over 25 years of global experience. With a fervent dedication to empowering SMEs driven by a mission beyond mere profit, Michaela is poised to guide them towards realizing their full potential. Specializing in the art of "building meaningful brands," Michaela excels in steering brands towards purpose-driven success. Her expertise lies in maximizing turnover, establishing market leadership, and catalyzing demand by uncovering each brand's unique business purpose. Her approach involves not only strategic planning but also active involvement in team development, fostering partnerships, and orchestrating effective execution and distribution strategies. For a deeper exploration of Michaela's intentions, offerings, compelling case studies, glowing references, visit www.michaelacwolf.com. #luxuryretail #purposedriven #brandbuilding #futureproof

Luxury Brands Have An Innovation Gap: Here’s The Fix

As per global study on market,most of experts are convinced on : There are 4 different types of customers: 1)Those Motivated by Necessity: These customers make purchases primarily based on essential needs and practical considerations. They prioritize items or services that fulfill basic requirements in their lives. 2)Convenience Seekers: This group values ease and accessibility. They are likely to choose products or services that offer the most convenient and straightforward solutions, often prioritizing efficiency and simplicity. 3)Aficionados of Luxury: Customers in this category are drawn to premium and high-end offerings. They seek products or experiences that exude luxury, exclusivity, and superior quality, often willing to pay a premium for these attributes. 4)The Exploratory-minded: These customers are characterized by their curiosity and desire for new experiences. They enjoy discovering unique products or services, venturing beyond the conventional and embracing innovation and novelty. But most of them (experts )are confuse on targeting customers for new products. So marketing and selling are alway a tricky.

When we advise our luxury brand clients on how to design and deliver ECEs (Extraordinary Customer Experiences) we find that many clients believe that the bigger, more over-the-top, the more opulent the event they design, the better the client experience. There is a place for those types of events in the luxury experience, but due to many reasons, including cost, they are few and far between. Some analysts say that the ability to acquire major real estate and occupy it with a vast store is a strategic advantage. In some very few cases that can be true, depending on how brilliantly it is executed on an emotionally intelligent and human scale. We have visited many stores that have size but lack soul and humanity. The feelings they inspire cannot just be awe; they have to feel safe, comfortable, cared for; joy. In our Mastery of HNW Relationship Building we teach your team members how to engage one on one with the HNW and UHNW SuperClients on a deeply human level, irrespective of the venue. The venue matters; the human connection is critical. To achieve the Mastery of HNW Relationship Building, please sign up below. And please send us your feedback. We crave it.   https://lnkd.in/ewHvUiAA  

🔖 Elevate the Essence of Luxury! With SENSATE, it's not just about having the best, it's about experiencing the best! Unveiling our secret weapon - a unique and unparalleled synergy that interconnects Luxury Brands, their Clients, and Employees. 🌐✨ We are a trailblazer in the luxury market, strategically addressing one of its most formidable challenges - retention of both employees and clients. Unlike the traditional agencies, our unique selling proposition lies in our holistic approach. Here's why we're the best in the business: 1️⃣ Deep Understanding: We've got our fingers on the pulse of the luxury market. Our expertise lies in understanding the needs and desires of both employees and clients in the luxury sphere. 2️⃣ Connection Building: Our refined strategies create emotional connections between brands, clients, and employees. The result? Higher loyalty, better retention, and unforgettable experiences. 3️⃣ Customization: We offer bespoke solutions tailored to meet the unique requirements of each brand, ensuring maximum impact and value. 4️⃣ Innovation: We're pioneers of change, always on the cusp of the latest trends and technology to keep your brand ahead of the curve. Unlock the true potential of your luxury brand with SENSATE. Our legacy is our commitment to your growth and success. 🔔 Don't settle for the ordinary, when extraordinary is just a click away! Explore your brand's journey towards excellence with us at www.Sen8ate.com. Join the league of the extraordinary, today! 🚀 #customersatisfaction #customer #luxuryretail #coaching #lifestyle #training #employeewellness

𝟭𝟬 𝗧𝗶𝗽𝘀 𝗙𝗼𝗿 𝗚𝗲𝘁𝘁𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗟𝘂𝘅𝘂𝗿𝘆 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗧𝗼 𝗧𝗵𝗿𝗶𝘃𝗲 𝗜𝗻 𝟮𝟬𝟮𝟰 - 𝗣𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝘀𝗲 𝗛𝘂𝗺𝗮𝗻 𝗜𝗻𝘁𝗲𝗿𝗮𝗰𝘁𝗶𝗼𝗻𝘀 𝗢𝘃𝗲𝗿 𝗔𝗜 Many Luxury Professionals and Consultancies such as McKinsey and the Business of Fashions have predicted 2024 to be challenging; some called it "The battle of survival". Their critical recommendations for luxury businesses are to focus on generative AI, the next level of sustainability, and quiet luxury. I am offering a different perspective. In a turbulent economy, all businesses, especially the luxury players, should return to the core by 𝗶𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘁𝗶𝗺𝗲 𝗮𝗻𝗱 𝗲𝗳𝗳𝗼𝗿𝘁 𝗶𝗻 𝘁𝗮𝗸𝗶𝗻𝗴 𝗰𝗮𝗿𝗲 𝗼𝗳 𝘁𝗵𝗲𝗶𝗿 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗲𝘀, 𝗲𝗾𝘂𝗶𝗽𝗽𝗶𝗻𝗴, 𝗲𝗺𝗽𝗼𝘄𝗲𝗿𝗶𝗻𝗴 𝗮𝗻𝗱 𝗶𝗻𝘀𝗽𝗶𝗿𝗶𝗻𝗴 𝘁𝗵𝗲𝗺 𝘁𝗼 𝗺𝗮𝗸𝗲 𝗲𝘃𝗲𝗿𝘆 𝗶𝗻𝘁𝗲𝗿𝗮𝗰𝘁𝗶𝗼𝗻 𝘄𝗶𝘁𝗵 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀 𝗺𝗲𝗺𝗼𝗿𝗮𝗯𝗹𝗲. Here is a summary of the "how": 1. Invest in the year-end staff performance review. 2. Identify the client-facing team's training priorities. 3. Reduce the client-facing team’s administrative and operational errands. 4. Revisit talent recruitment criteria and processes. 5. Review performance measurement effectiveness. 6. Listen to your customers. 7. Evaluate your client engagement effectiveness. 8. Study your competitors. 9. Build your allies. 10. Make memorable human interaction your most powerful differentiator. If you are a visionary leader who resonates with the above, let's work together in 2024 to excel in growing customer loyalty and business profitability 🤝. #GogoChengConsulting #luxury #customerloyalty #TheArtandScienceofClienteling

Hello there, Network'm doing a quick survey to find out how various luxury brands manage their brand extensions. The purpose of this survey is to investigate your opinions and observations about how luxury firms uphold and improve their core brand equity when launching new product lines. Your insightful comments will help me gain a greater understanding of the tactics Luxury brands use to diversify their offerings. Would you kindly spend a few moments to discuss your ideas and experiences? Your opinions are valued and very important. I appreciate your participation in advance.

👗👠💼 Curious about the fascinating world of Luxury Goods Markets and Consumer Behavior? Join us on a journey through the dynamics shaping this exclusive industry! ✨ From aspirational purchasing to the psychology of luxury, explore the intricate nuances of consumer behavior in the realm of high-end fashion, accessories, and beyond. Discover what drives consumers to invest in luxury goods, from status symbols to self-expression, and uncover the strategies that luxury brands use to captivate their audiences. Ready to delve deeper? Visit projects.mba for valuable insights and resources. For personalized guidance, WhatsApp us at 636 636 3333 or reach out via mail at support@projects.mba 📩 Let's unlock the secrets of luxury together! #LuxuryGoods #ConsumerBehavior #Fashion #ProjectsMBA