Evidens de Beauté’s Post

On February 29th & March 1 at the Luton Hoo Resort the Retail Hive are forming a Luxury Retail Fulfilment and Final Mile supergroup! The article below includes tips sourced from a key group of specialists in Luxury Retail on best practise when defining your post purchase and final mile strategy. We'd love to grow this group so if you work in supply chain, fulfilment, warehouse management, inventory management and sustainability why not think about joining us for the Luxury Retail Exchange at the end of February. DM me to find out more and receive the full agenda!

Something about authenticity So on a great trip through Europe which started in Dublin. I was really hit with the notion of authenticity & how regional hot spots make things, well, real. The Temple bar in Dublin is like ground zero for all things around St Patrick’s celebration. Inside the walls are covered with great images & pictures from the years as being such a landmark. A must see. On the other hand what a flop the Browns department store was . A total takeover by the LVMH & Kerring brands . Zero authenticity. Why would I want to buy something from LVMH in an Irish department store? Like buying a hotdog in Italy or spaghetti in Germany… A shame what’s happened around the world with this assimilation of fashion offerings . Gone is the excitement of the local offerings & a reason to shop. My sense is this will start to change .For sure other industries and sectors have begun to flourish on the notion of regional or local charm. #retail #fashion #local

If you really want to know what’s in store with luxury retail between now and the end of the year, then you need to read this piece. JOOR CEO Kristin Savilia has her finger on the pulse of luxury retail since it is her platform that brings buyers and brands together to buy what they need to stock their stores. Here’s the not so good news. Across all store types, luxury buys are down. What that means for prices, inventory, and the role of independent retailers in luxury retail’s future – it’s all here: https://lnkd.in/gUcJQCtk

Recruiting top talent within the very competitive luxury retail industry involves a number of innovative strategies! Here's how we do it 👉 💡

Free Beverage in Luxury stores🤩. If you ever visited a physical store of some luxury brand, you most definitely noticed that you are being treated differently. They smile at you, open doors for you, are interested in you as a person. And then they offer you something for drink. I visited the main Patek Philippe Boutique in Geneva myself and I was offered one of my favorite whiskeys 😁. That is what most really luxury brands do. Now think for a while, what does beverage do to you? You are more relaxed, more friendly and you enter your more emotional state. And what does that mean for the sales person? If you see this post, you are most likely to know that buyers make decisions based on emotions and not on logic. See where I'm going? They are intentionally putting you in the more emotional state, so you are more likely to buy. It doesn't sound nice, but it is just the way it is😄. Either way, you will always enjoy shopping in a store like this. So your job is to make your customer experience equally, or more, luxurious. Good luck and I want to ask you? Have you ever been to some luxury store? #Business #BusinessInsights #SalesTechniques #PatekPhilippe #Closing

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The luxury industry's focus on ultra-wealthy shoppers has led to overlooking the crucial role of the middle class. According to Boston Consulting Group, over half of global luxury purchases come from middle-class consumers spending less than €2,000 annually on designer goods. In contrast, the very wealthy, comprising only 2.5 million individuals, account for 10% of luxury sales by spending over €20,000 yearly. While these heavy hitters play a significant role, the industry's growth in the past decade has been largely driven by aspirational shoppers, especially in Asia. Learn more: https://lnkd.in/g5n2A-Pu

🚀 Balancing Exclusivity and Inclusivity in Luxury Retail - Navigating the fine line between luxury and premium brands 🚀 A recent study published in International Journal of Research in Marketing (https://lnkd.in/dfZtrFh7) explores how luxury brands manage exclusivity while adapting to mass-market demands. The study highlights three key strategies: 🔑 Disguise: Hiding market elements under layers of domestic aesthetics (e.g., Audemars Piguet, Balmain) 🏡 🔑 Hybridization: Blending domestic and market cues (e.g., Hermès, Sonia Rykiel) 🎨 🔑 Juxtaposition: Partitioning experiences to maintain exclusivity (e.g., SCHIAPARELLI) 🌟 This balance is increasingly relevant, as e.g. LVMH. ’s recent challenges show. LVMH saw a slight decline in Q3 2024, especially due to weakened demand in China. #Luxury #CustomerExperience #Retail #BrandManagement #Strategy #CommercialExcellence Cite: Debenedetti et al., 2024. Balancing exclusivity and inclusivity through the strategic domestication of the luxury retail experience.

🔍 What’s Really Going On With Luxury Retail? Overpriced products, labor scandals, declining sales, and disillusioned customers—these are just a few of the challenges legacy luxury brands face. But could the real problem lie beyond poor business strategies? In my latest article, I unpack the key reasons for the luxury sector's struggles, from the rise of boutique brands to the waning sense of customer delight. However, the most pressing issue I address is perhaps the most overlooked: the gradual erosion of true human empathy, which may be at the core of the industry’s decline. Are luxury brands becoming too focused on profit and product, and missing the bigger picture? 💭 Read the full article here and discover the powerful insights into what’s really happening behind the scenes. #LuxuryRetail #CustomerExperience #EmpathyInBusiness #RetailTrends #BrandStrategy #CustomerConnection