Webinar: Overcoming the Slowdown: Expert Insights on the New Shape of Luxury, Consumer Trust, and Clienteling
As the luxury market faces unprecedented challenges, even industry leaders are not immune. LVMH, a global icon in the luxury sector, reported a 5% decline in sales for its fashion and leather goods division, including powerhouse brands Louis Vuitton, Dior, and Loewe, in Q3 2024. Overall sales dropped to €19.1 billion ($21 billion), a 3% year-over-year decline. These numbers reflect growing difficulties across the luxury landscape, with Asia (excluding Japan) seeing a significant 16% drop in sales, largely driven by a sharp 16% decline in China. This downturn was described by LVMH’s CFO Jean-Jacques Guiony as "more demand-driven than offer-driven," signaling that consumer behavior is shifting—and so must the strategies of luxury brands.
This climate underscores the pressing need for brands to adapt through personalized clienteling. Luxury brands that clientele with BSPK are seeing rapid adoption of the platform and an immediate, positive impact on their sales. Clienteling helps brands overcome the growing trust gap, strengthen customer relationships, and create personalized experiences that keep customers loyal—even in a tightening market.
At a time when LVMH's luxury divisions, such as watches and jewelry, saw a 5% sales drop in the first nine months of 2024 and signs of slowing in Japan's previously high growth (now at a 20% increase), brands cannot afford to stick to traditional models. The global landscape is evolving, and with demand softening, brands need smarter, more proactive solutions to stay ahead.
Personalized clienteling is the key to navigating these turbulent times. With BSPK’s clienteling platform, luxury retailers can quickly equip their teams to engage with clients in a meaningful, data-driven way. Brands using BSPK have witnessed faster customer conversion and stronger loyalty, proving that clienteling can turn the tide when traditional methods fall short.
Join us for an exclusive webinar to explore these challenges and opportunities further. Host Katie Tame will be joined by two leading industry experts, Zornitza Stefanova, CEO of BSPK, and Milton Pedraza, CEO of the Luxury Institute. Together, they will dive deep into the new strategies needed to help your brand build customer trust, loyalty, and sustained growth, even in today’s volatile market.
Learn firsthand how personalized clienteling can provide a solution to declining sales and how brands leveraging this approach are successfully navigating market downturns. Hear the experts’ insights on how to re-engage with consumers and create lasting relationships that withstand market fluctuations.
📅 Don’t miss out! Register now and gain insights that could reshape your brand's future: https://loom.ly/MRVcP7Y
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