“These mainstream Americans with more moderate incomes tend to buy luxuries less frequently and spend less on them than their affluent counterparts with higher incomes, but these mainstream luxury buyers are a very important part of the luxury business model for many luxury brands.Also among these mainstream consumers who buy luxuries, millennials were the most active buyers and their getting into buying luxuries is a wonderful opportunity for luxury marketers and their agencies to convert these younger customers into more regular customers as their financial profiles improve,”
2,000 girls looking for this T-shirt every day
Retailers are increasingly in tune with consumers’ expectations of personalized, seamless experiences across channels, with 56 percent of brands citing this as a top digital priority going forward, according to a new report by Boston Retail Partners.
As consumers and retailers alike have embraced mobile and online selling, the traditional retail silo model has been broken down to create a bridge between the physical and digital. Likewise, retailers now have a better grasp on bringing consumers an individualized and streamlined shopping experience, wherever, whenever and however they prefer to shop.
Consumers buying luxury goods online are more apt to pay extra to ensure a package’s on-time arrival than those purchasing other products.
While 84 percent of luxury shoppers said they would shell out more for on-time delivery, only 67 percent of all consumers said the same. As a survey by Dotcom Distribution finds, luxury clientele has higher expectations of the ecommerce delivery service, making fast shipping, packaging and communication key to winning repeat business.
Luxury retailers need to support in-store experiences with full-bodied online strategies more so than ever now that shoppers are taking their time in the decision-making process for the upcoming holiday season.
Shoppers have a bevy of resources at their fingertips that can shift their gift purchasing decisions, and now 77 percent are taking long periods of time to determine the best presents. Even though online and mobile sales are growing exponentially, bricks-and-mortar will still be key as 87 percent of shoppers are likely to buy in stores.
The retailer’s throwback partnerships with brands like Adidas, Wrangler and Calvin Klein are winning back core customers.
There is little doubt that personalisation is one of the buzzwords du jour in the world of fashion retail. What is less clear is the right way to approach personalisation, what the objectives should be and what those goals should be measured against.