CXG

Navigating the luxury retail landscape requires a deep understanding of customers' needs and expectations. We analyze customer behaviors, experience expectations, purchase dynamics, and relationships with luxury across key demographics. This targeted analysis identifies and bridges gaps in the customer journey, transforming insights into actionable strategies to enhance client engagement and loyalty. Get in touch with our CX Experts to start your project today. Visit https://lnkd.in/dr-JCGSp #cxg #cx #customerexperiencegroup #customerexperience #understandingcustomers #luxurycustomers #luxuryclients #luxury #luxurybrands

There is still room for new celebrity brands, but the formula must adapt to a rapidly changing consumer landscape. Celebrity brands can still thrive in this climate by deemphasizing the focus on the celebrity itself and by strengthening the focus on a) genuine authenticity reflecting the celebrity values, b) an original idea, c) an uncompromising commitment to quality, and d) a high degree of innovation. This should go along with social and environmental responsibility, which are simply table stakes in today’s environment. Swipe through below to explore some potential trends we might see and download the report by visiting: https://lnkd.in/d_KDfEj8 #CXG #CX #Customerexperiencegroup #customerexperience #luxury #luxurybrands #celebritybrands #USA #industryreport #thoughtleadership

Meet Richard Spieth, RVP of the Americas at CXG! 🌟 Richard is a key leader in our team, known for his commitment to sustainability and his life as a devoted father in New York City. Want to learn more about what drives Richard? Let’s dive in! We heard you are passionate about sustainability. How did this interest develop, and what specific practices have you implemented in your daily life or work? Sustainability became an interest of mine growing up in the fashion industry, where I saw the waste from denim production and samples. I also developed a love for vintage items with stories, like clothing, watches, and jewelry. With my son's arrival, I'm even more committed to protecting the planet for his future. When we go for walks or hikes, we bring a bag to pick up litter, teaching him that small actions can make a big difference. As a Regional VP and parent, how do you balance professional and personal responsibilities, and what activities do you enjoy with your son in your downtime? Balancing work and life can be challenging due to the demands of work and family, but a strong support system helps. I make an effort to be fully present when spending time with Robbie, putting away my phone and focusing on enjoying the moment. We plan activities together, like visiting the garden center or the Natural History Museum, as he loves dinosaurs and gardening. Simple activities like digging holes bring him joy, and these are the moments I cherish. Being based in New York, are there any local activities or aspects of the city’s culture that you particularly enjoy or find unique?  I may be biased, but NYC is the best city in the world. It offers endless food options at any hour, from sushi at 4 am to $3 pizza slices. Unique spots like subway Speakeasies and Michelin-quality restaurants add to its charm. Culturally diverse, NYC has museums for every interest. My current favorite is the night markets and outdoor food festivals that bring people together to enjoy local foods and music, fostering a sense of community. What are some of the challenges and opportunities you see for the region in the coming years? The Americas offer various unique opportunities for business growth, such as the expansion of premium and aspirational brands in the US, the development of the Canadian luxury market, and untapped potential in Central and South America. While there are challenges to consider, including economic uncertainty and global political instability, these can be navigated with strategic planning. There’s been an open debate on the BEST New York Pizza. Joe’s or Luigi's? The pizza debate in NYC is a real thing, and I'm not touching it but I will share my favorites: Traditional NY Slice: Joe's, Bleecker, and 6th Ave. Artisanal Slice/Pie: Lucia Pizza of Soho (West Broadway and Canal St.) or Mama's TOO (Upper West Side & West Village) #CXG #CX #CXGLife #BeyondtheDesk

In this edition of #CXGPerspectives, we're zooming in on part two of our "Born in the USA, Embraced Globally: The Rise of Celebrity Brands Part 2" report. In it, we highlight two examples of common threads that explain some brands' success. Click to read below! #CXG #CX #customerexperiencegroup #customerexperience #newsletter #linkedinnewsletter #thoughtleadership #industryreport #luxurybrands #fenty #lvmh #honestcompany #usa

Born in the USA, Embraced Globally: The Rise of Celebrity Brands Part 2 Now Available for Download! In the prior installment of Celebrity Brands, we looked at the history, use cases, strategic imperatives, and market strategies that celebrity brands use to launch and grow. In Part 2, we highlight some examples of extraordinary successes and the strategies used in the brand’s roadmap to success. As customer sentiment around celebrity brands seems to be shifting with some evidence of celebrity brand fatigue settling in, there is an imperative for this genre of brands to pivot and re-evaluate their marketing and perhaps even branding strategy. Considering this context, we also examine celebrity brands’ future and new iterations. Download Part 2 of the report by visiting the link in comments! #CXG #CX #customerexperiencegroup #customerexperience #celebritybrands #celebrities #luxurybrands #luxury #industryreport #USA #thoughtleadership

In Western cultures, good service entails responding to and meeting expectations promptly and efficiently. In contrast, Japanese Omotenashi stands out through its anticipatory, selfless, and subtle nature and its practice of small gestures throughout daily interactions that can add to something greater than the sum of its parts. It is essential to remember this as it reinforces the idea of Omotenashi’s uniqueness. Interested in reading more? Download the "Omotenashi for the Modern Age: Elevating Service in Japan and Taking the Concept Global" report by visiting: https://lnkd.in/d9S425-X #CXG #CX #Customerexperiencegroup #omotenashi #japan #thoughtleadership #hospitality #luxurybrands #luxury #industryreport

For the first half ended June 30, 2024, and despite a challenging macro context, Prada posted excellent results with a strong retail sales growth of +18% YoY at constant exchange rates and a net revenue increase of +17%. to €2.55 billion, largely driven by its retail network and beating consensus estimates. Retail sales for Q2 aligned with the half-year results at +18% YoY growth.   This outstanding growth was driven by all the regions, most of which experienced double-digit growth, and its brands, fueled by Miu Miu. The latter experienced retail sales growth of +93%, while Prada continued its more mature above-market sales trend with a +6% increase in sales, compared to the same period in 2023. Miu Miu’s commercial success was a result not only of outstanding creative prowess but also of successful activations, highly acclaimed fashion shows, as well as special projects like Miu Miu Upcycled and several collaborations. Regarding regions, APAC showed +12% growth for H1 (with an embedded slowdown in Q2 versus Q1), while Europe posted excellent +18% growth. The Americas experienced good sequential growth at +7%. The two standouts for H1 regionally were once again Japan at +55% growth and the Middle East region, which experienced an exceptionally robust +20% growth (all at constant exchange rates). Management re-iterated that in a challenging macro-economic environment, the Group continues to exercise the disciplined execution of its business and distribution strategy, as well as remaining agile and invested in capitalizing on the strength of its brands Prada and Miu Miu, in terms of product range, branding communication, and brand positioning. #CXG #CX #Customerexperiencegroup #customerexperience #industrynews #prada #miumiu #luxurybrands #luxury #financialresults

From enhancing retail experiences to strategic shifts in corporate leadership! This week, a renowned automotive brand creates an immersive pop-up in London. Meanwhile, a leading luxury group reports growth amidst challenging market conditions. In corporate moves, a beauty brand secures shareholder approval to go private, aiming for strategic repositioning. Additionally, an iconic luxury group engages in talks to take over a prestigious sports sponsorship, signaling a strategic brand alignment. Discover the latest news in the luxury landscape! Link in comments. 👇 #CXG #CX #customerexperiencegroup #customerexperience #lvmh #astonmartin #moncler #loccitane #luxury #luxurybrands #industrynews #luxurynews #businessnews

What's on Our Minds in the World of Luxury? A Salute to the Paris Olympics and LVMH: How Luxury and Sports Converge To Deliver A Winning Mix of Adrenaline and Glamour The intersection of luxury and sports has become a powerful force in contemporary culture. From Formula 1 to Wimbledon to the America’s Cup, high-end brands increasingly align themselves with athletic pursuits, creating synergistic moments that captivate audiences worldwide. This convergence is perfectly represented by the Paris Olympics, with LVMH, the luxury industry powerhouse, serving as the Creative Partner and Main Sponsor. Watch the video below and read the full article by visiting the link in comments! #CXG #Customerexperiencegroup #customerexperience #cx #parisolympics #olympics2024 #parisolympics2024 #LVMH #luxury #luxurybrands #sportsandluxury

Hermès Shows Exceptional Resilience with Positive Momentum in the First Half of 2024. Once again, Hermès showed robustness and resilience in its results for the first half of 2024, with a +15% increase in revenues at constant exchange rates (12% at current), amounting to revenues of €7.5 billion for H12024. All geographic regions, including Asia, posted double-digit growth against a very high comparison basis in the prior year. Asia ex-Japan recorded 10% growth, supported, among other things, by the opening of Mumbai’s Jio World Plaza store, the reopening of Lee Gardens in Hong Kong, and the Beijing SKP store. Japan once again recorded continued exceptional momentum with a +22% increase in revenues, underpinned by local clients. Despite the general pullback in luxury spending in the Americas, this region represented a robust growth driver for Hermès, with evidence of sustained momentum in the United States, resulting in +13% growth for the Americas. As has been the case historically for Hermès, sales in Europe were especially strong, driven by both loyal local customers and healthy tourist consumption. This translated into +18% growth for Europe, excluding France, and +15% growth in France. In terms of segments, despite a more challenging contextual framework, almost all of Hermès métiers exhibited robust growth, with the standouts being Leather Goods and Saddlery at +19% growth, supported by the expansion of manufacturing capabilities and strong demand. Ready-To-Wear posted an impressive +15% growth, while the “other “sector, which includes Jewelry and Home, also did exceptionally well at +19% growth. Silk and Textiles remained relatively flat at +1% growth, while the Perfume and Beauty sector continued its development with +5% growth and the Watches segment was basically flat at constant exchange rates. In a nutshell, these remarkable results in the face of a highly challenging macroeconomic context and significant headwinds affecting the luxury industry are a testament to the brand’s creativity in its collections, its strong craftsmanship, the continuing loyalty of clients, the brand's enduring global appeal, and its extremely strong distribution model. In the medium term, the company maintains its optimistic outlook and ambitious revenue growth goals despite the economic and geopolitical complexities. #CXG #CX #customerexperiencegroup #customerexperience #luxurybrands #luxury #hermes #businessresults #industrynews #financialresults