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Chanel, YSL Beauté and Burberry are offering compelling activations to satisfy shoppers who crave experiences
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The luxury retail industry is a $250 billion Euro industry globally, with 97 billion deriving from the United States. Luxury retail can include fashion, cosmetics, accessories, and more. A recent BCG study found that over 60% of luxury goods sales are digitally influenced.
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The scope of luxury is broadening in the U.S; while a set of consumers still associate luxury with brand names, many now consider time, self-care, wellness, and sustainability to be luxuries that they will pay for.
Infographic: Wooing the Luxury Consumer
Social media has been playing an important role in marketing strategy. As a part of social media, social networking sites (SNS) can be utilized by enterprises to create direct communication and good relationships with their customers. Therefore, enterprises using SNS have to select the right marketing content to enhance strong customer relationships, which lead to their behavior generating sustainable performance for enterprises. This research considered social media marketing activity (SMMA) and Customer Experience (CX) to measure the customer’s relationship quality, which can impact customer behavioral outcomes, which are purchase intention, loyalty intention, and participation intention. The 413 online questionnaire surveys were measured and analyzed using SmartPLS 3. The results show that SMMA and CX have a significant influence on the customer relationship quality, which also leads to a positive impact on customer behavioral outcomes. This research guides enterprises that SNS’s marketing content has to follow SMMA and CX dimensions to achieve the marketing objective and generate sustainable performance for enterprises.
Sustainability, Free Full-Text
What is omnichannel marketing? Omnichannel marketing is a fully integrated marketing approach that gives individual shoppers a unified, personalized experience across multiple customer touchpoints.
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The current study adds to the literature on the indirect effect of luxury brand perceived value on purchase intention via the brand attachment under the boundary conditions of consumer vanity. The authors employed a quantitative method approach, conducting an online survey with 508 respondents in Lithuania. Empirical research analysis reveals that the greater the perceived value of a luxury brand, the greater the consumer purchase intention. The latter is most strongly affected by the luxury brand perceived functional value. The study demonstrates that the greater the luxury brand perceived value among consumers, the greater their brand attachment, which in turn leads to a greater purchase intention. As there is a positive emotional relationship between a luxury brand and the consumer, the consumer’s purchase intention is also affected by the luxury brand perceived symbolic value, i.e., the capacity of the brand to communicate the consumer’s success, leadership, and power. Consumer vanity was not statistically significant to the nature of the relationship between luxury brand perceived value, brand attachment, and purchase intention. Luxury car marketers may benefit by focusing on the social and symbolic value of luxury car brand value in communication with brand-attached consumers in Lithuania.
Sustainability, Free Full-Text
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