Booxi on LinkedIn: Appointment Scheduling And Luxury Retail Challenges (2024)

Redefining In-Store Luxury Experience in 2023: The Key to Client Retention.We're privileged to engage with leaders of the world's biggest luxury brands. A recurring theme is the challenge of maintaining client retention in today's volatile market. With an average retention rate of 38%, luxury brands are shifting focus from online to enhancing in-store experiences.Personalization, transparent communication, and high-quality, timeless products are increasingly important. Moreover, engaging with local clients through focused initiatives, alongside exploring avenues like the resale market, is vital.Exceptional customer service in physical stores is crucial. As a headhunter working closely with these brands, I observe a significant shift towards enhancing in-store experiences, particularly for the 'HENRYs' demographic (High Earners Not Rich Yet), who are increasingly influential in this sector. Part of this strategic shift involves building stronger local relationships and deeper engagement, acknowledging the critical importance of these elements in today’s market dynamics.For 2023, the message is clear: Luxury brands must innovate their in-store experiences to resonate with the evolving preferences and values of consumers, especially the local clientele. By doing so, they can strengthen loyalty and confidently navigate the uncertain economic landscape.#LuxuryRetail #InStoreExperience #ClientRetention #Modum

52

5 Comments

Luxury Ecommerce Retailers Not Equals The leading luxury brands have been successful (both profit and share price wise) in the last few years by attracting luxury's VIP customers or the highest spending customers. #luxurybrandThese customers typically spend £50k + upwards a year on luxury products.#luxurycustomerHow attractive a luxury brand is to luxury vip customers is a good indicator of how well they are and will perform in the future.Some leading luxury ecommerce retailers have more products that appeal to luxury vip customers than others.#luxuryecommerceOf course it's not just about how many of these products you have in stock but also what types of products and your ability to convince this customer to purchase.#luxurygrowthstrategy I believe that the amount of (scale), brand and product selection (curation) of products will play a big part in determining which luxury ecommerce retailers attract and sell to luxury's most in demand customer.Scientia est Potentia - Knowledge is Power#luxuryecommerce #luxuryvipcustomer #thefreshkid

73

3 Comments

The luxury retail experience is fast evolving. Yes. But I believe that the key to client loyalty is still real people. Alongside the modern and sometimes dizzying luxury experiences in store, brands must train, support and value their in store teams, as they are key to luxury success. An authentically enjoyable experience with a friendly and knowledgeable team member for an aspirational client will make all the difference when considering their next purchase. Even if this is online. Good team members go the extra mile. Really get to know their client. Those clients feel valued, and return. Brands must not only value their clients, but their brand ambassadors in store.

4

💸 The world of #luxury retail is experiencing a fascinating transformation. While established brands still cater to their loyal clientele, new generations of discerning shoppers are entering the scene, demanding personalized and digitally-led experiences.Here's how #SmartDataCapture can modernize these shopping journeys without compromising the essence of luxury👉 https://lnkd.in/dxVphxhm #Retail

7

💸 The world of #luxury retail is experiencing a fascinating transformation. While established brands still cater to their loyal clientele, new generations of discerning shoppers are entering the scene, demanding personalized and digitally-led experiences.Here's how #SmartDataCapture can modernize these shopping journeys without compromising the essence of luxury👉 https://lnkd.in/dpCuxzHS #Retail

4

The future of luxury is online. As consumer shopping moves increasingly online, how will you deliver a bespoke in-store experience to consumers at home? Download our new white paper to explore how supply chain trends like premium delivery are helping luxury brands stay distinctive: https://okt.to/ISulmo#luxurylogistics #luxurytrends #dhl #logisticsofluxury #retailyourway

11

The future of luxury is online. As consumer shopping moves increasingly online, how will you deliver a bespoke in-store experience to consumers at home? Download our new white paper to explore how supply chain trends like premium delivery are helping luxury brands stay distinctive: https://okt.to/M68VXb#luxurylogistics #luxurytrends #dhl #logisticsofluxury #retailyourway

2

The future of luxury is online. As consumer shopping moves increasingly online, how will you deliver a bespoke in-store experience to consumers at home? Download our new white paper to explore how supply chain trends like premium delivery are helping luxury brands stay distinctive: https://okt.to/3STpsB#luxurylogistics #luxurytrends #dhl #logisticsofluxury #retailyourway

5