What are some insights about luxury/premium brands doing something differently for their customers | Candider
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soumitravilekar
What are some insights about luxury/premium brands doing something differently for their customers
17th May 2020 6:32 pm
economics
Business expert
The following result is obtained by our Internet Research Algorithm: Following are the contribution of luxury brands for their customers - • Luxury companies have pivoted to address urgent public-health needs: factories that produced scarves and perfume now manufacture face masks and hand sanitizer, and many luxury groups have made monetary donations to hospitals and other not-for-profit organizations. • To survive, wholesalers are likely to adopt aggressive commercial and discount policies. • Brands can focus on creating tailored local experiences, strengthening their digital and omnichannel offerings, and engaging more deeply with consumers in tier-two and tier-three cities. • Many brands will depend on their ability to respond to the short-term urgencies related to COVID-19 while simultaneously planning and executing for the future. • Aside from enhancing their own websites, they also consider partnerships with reputable e-retailers. • Step up their personalization efforts in digital marketing. Luxury consumers are accustomed to a high standard of service in stores; the emphasis, then, would be on creating a personalized digital experience of the same quality.
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