Luxury Brands Don’t Really Understand Their Customers
Businesses need to understand their customers in order to succeed. They need to know who their c...
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Marketing/Cross Canal & Retail/Shopper/Luxe & Communication/Veille
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Luxury brand shoppers need to see a show in order to make the sale.
Luxury brands need to truly understand who their customers are and what they’re looking for in a luxe shopping experience which is critical in creating a personalized experience for the customer that drives engagement, retention, and satisfaction.
But it appears that they fail in this analysis: according to the Epsilon study many luxury brands think their customers are typically female, about 45 years old, and have a net worth over $1 million. However, according to the study, more than half of high-end shoppers are male and have a net worth over $500,000….