🎙 Key takeaways from our Webinar on HyperLuxury & VIC
More than 1,600 of you registered to join our panel discussion on « Future & Luxury - Focus on Hyperluxury », organized by Journal du Luxe and VO2 GROUP last week. We delved deeply into the world of Very Important Clients (#VIC) and explored why they are such a crucial customer group for luxury brands.
⏯ For those who missed it, you can watch the replay here: https://lnkd.in/drxvEc5X
📌 For non-French speakers, here are some highlights from the webinar:
- VICs' Impact: A mere 2% of luxury clientele - the VIC - generate 40% of a brand's revenue, highlighting the disproportionate influence of a small segment of customers on luxury brands' financial health.
- Diverse VIC Profiles: this group includes royalty, entrepreneurs, heirs, or collectors, presenting a challenge in crafting personalized experiences.
- Clienteling in Luxury Retail: Luxury houses are creating concierge services, dedicated teams, and mobile apps for a select few, with 80% of luxury brands now employing clienteling solutions for a closer one-to-one customer relationship.
- Data-driven relationship: Olivier and I highlighted the importance of utilizing customer data - the cornerstone of relationship memory - to recognize, understand, and retain high-value clients, many of whom lead international lifestyles. Luxury brands indeed face the challenge of offering consistent, personalized experiences globally.
Special thanks to Emilie, who made this possible, to our amazing hosts Eric and Nicolas, and to our brilliant panelists!
At VO2 Asia Pacific, we're committed to enhancing VIC engagement and activation for Brands & Houses through technology, strategy, and experience design. For further details on how we can support your brand, don't hesitate to contact me! #clienteling #data
