Analytics and big data have become a huge part of determining brand strategies to target relevant potential customers for luxury brands. They also need to use these tools to find sustainable ways to grow, not at the cost of the planet
It is evident that the future of luxury will depend upon responsible consumption and that luxury brands will have to educate themselves on how to reinvent their dreams within these new boundaries.
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With the growing changes in today’s world, people have learned to adapt to different lifestyles. New and innovative strategies, product aesthetics, and features can create consumer loyalty, build brand value, and increase sales and engagement between brand and consumer. Innovation drives the interest and attention of the clients, attracting them to the store or a digital channel.
Today's chaotic life has made people realise that online platforms can be as reliable as brick-and-mortar stores to access everything they need—from a safety pin to a luxurious handbag. There is no comparison to the personal touch and experience that one gets when they visit a real store, but online retailers are also providing a unique experience in their way, which helps in saving resources as well as time and effort.