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Players in the luxury retail market must act now to gain advantage in the post-pandemic moment. By focusing on four key elements, these retailers will better harness emerging trends.
Luxury Roundtable is inviting insightful columns and thought-leadership articles on issues, trends, opportunities or challenges affecting the luxury business, whether in one sector or many.
More than a strategy, customer obsession is a business model.
India has emerged as a compelling economic growth story and an increasingly attractive alternative to China within the emerging markets complex.
What makes an English country garden special is the combination of lush foliage, colorful flowers releasing beguiling fragrances and chirping birds sharing in the common joy.
The best way to identify purpose is not making up a new one but rediscovering the reason for the brand’s existence in the first place. What problem was it created to solve? Why?
In a weird twist of human nature, we overestimate the threats and underestimate our strengths in a typical SWOT analysis.
These days, there is almost always a robotic gatekeeper standing between your resume and an actual human’s eyeballs.
Making decisions based on internal opinion versus getting an objective, outside view from relevant prospects and customers has led more than one company to throw good money after bad on product development and marketing.
Regulators have taken a statute that focused on bricks-and-mortar locales and applied it to digital goods and services, such as websites, mobile applications, kiosks and other technology.
Understanding where each customer is in their purchasing journey and where they are getting stuck or abandoning the experience is a huge benefit to retailers.
While there are a multitude of applications for generative AI, marketing is one of the areas that has made the greatest inroads while still being susceptible to the greatest risks.
Rather than looking top down to start with brand visibility, Tesla and Airbnb looked bottom up to start with consumers.
The demand for a more adventurous, deluxe lifestyle is driving baby boomers –150 million in Europe and America, according to recent census data – to look abroad for second or third homes.
In the United States, there is essentially no limit to the amount of data companies can collect, and few limits on how they can use it.
Most ecommerce users often enter queries consisting of three words or less, leading to potential ambiguities and suboptimal search outcomes.
Bad customer interactions are putting more than $4.7 trillion in sales at risk every year.
The usual approach – clearance sales – are not going to help retailers get out of their current inventory-glut jam and build the runway they need to hit their longer-term goals.
For brands, advertisers and media publishers ready to harness it strategically, generative AI offers a unique, scalable, symbiotic answer to the engagement challenge.
The housing market in the United States is stabilizing in 2023, not crashing.
Ramping revenue and scaling operations before you have defined a unique and sustainable market position can be risky in the long term.