SaleCycle report reveals how luxury brands can adapt to ecommerce
Summary
This ethos is reflected in the laws of ‘anti-marketing’ set out by Vincent Bastien which sees marketing for luxury products as fundamentally different, and frowns upon selling online. The sheer growth in online retail has forced many brands to take it seriously, while the attitudes of many current and future customers mean that digital channels simply cannot be ignored.” According to Deloitte, millennials and Gen Z (in other words, people born between 1981 and 2015) are expected to make up 40% of the luxury goods market by 2025. This allows luxury brands to focus on keeping loyal customer segments happy with a more personal service and perks like exclusive access to new collections and private sales. The SaleCycle report highlight’s Net A Porter’s EIP programme is a great example of how a focus on customer loyalty can produce results. Instead, it should aim to complement it by providing a choice of channels that reflects consumer preferences, and delivering a great experience however shoppers choose to interact.
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