Develop a winning customer experience in the digital world
Luxury consumers are changing – they come from all over the world, they are young and they are digital natives. How can luxury brands that have built themselves as pure physical players adapt their business model and practices to address their expectations without abandoning their luxury DNA?
Luxury Retail and Digital Management, 2nd Edition sets focus on the major retailing challenges and customer evolutions luxury brands are facing today: the digitalisation and the emergence of the millennials and Chinese luxury consumers. These major changes have been affecting the distribution and communication channels of luxury brands; they now have to think simultaneously physical stores and e-commerce, global marketing and digital marketing.
• Defines all the tools that are necessary to manage luxury stores including analysis of location and design concept
• Explores the selection, training and motivation of the staff
• Covers everything executives, managers and retail staff need to know in order to enter, expand, understand and succeed in the world of luxury retail
Written by luxury retail experts Michel Chevalier and Michel Gutsatz, who lend their solid academic credentials and professional expertise to the subject, Luxury Retail and Digital Management, 2nd Edition provides deep insight into the main challenges that luxury brands are facing in this digital age.
MICHEL CHEVALIER is an expert in luxury brand management and retailing. He was Executive Vice President of Bluebell Asia Ltd, a distributor of luxury brands, operating retail stores in Asia. He also managed the Paco Rabanne perfumes and fashion companies. He is now the president of Parfums Dusita, Paris, and a visiting professor of Luxury Management at HEC Paris and Universita Cattolica di Milano. He is the co-author of Luxury Brand Management (with Gérald Mazzalovo) and Luxury China (with Pierre-Xiao Lu), both published by Wiley.
MICHEL GUTSATZ is a visiting professor of marketing, brand management and luxury retailing at Kedge Business School, China Europe International Business School and Hong Kong University. He is the president of family-owned Maison de Parfum, created in 1975 by his father, perfumer Yuri Gutsatz. Yuri created the first artisan and niche perfume brand Le Jardin Retrouvé. Prior to that, Michel managed an image strategy agency and was Human Resources and Internal Communication Director of the Bally Group.
Foreword ix
by Luca Solca
Introduction xiii
Part I: Important Choices in Luxury Distribution 1
Chapter 1: The Various Models in Luxury Distribution 3
Chapter 2: Do Luxury Products Still Sell in Stores? 21
Chapter 3: Concept and Design of a Luxury Boutique 39
Chapter 4: Online, Offline or O2O? 67
Part II: Know and Understand the Client 87
Chapter 5: Putting the Customer Back in the Centre 89
Chapter 6: Customer Identification and CRM 107
Chapter 7: The Challenges of Offline and Online Integration 121
Chapter 8: Logistics Adapted to a Digital Culture 135
Part III: Making Client Relationships More Meaningful 151
Chapter 9: Customer Behaviour in the Store or Online 153
Chapter 10: The Importance of Stores for Building Customer Relationships 163
Chapter 11: Customer Experience and Building Loyalty 177
Chapter 12: How the Internet Has Shattered the Traditional Sales Model 203
Part IV: Management Tools for Luxury Stores 219
Chapter 13: Location of Sales Points 221
Chapter 14: Managing Store Personnel: A Toolbox 259
Chapter 15: At What Price Should Products Be Sold? 297
Chapter 16: Financial Analyses of Sales Points 315
Conclusion 339
Bibliography 345
About the Authors 351
Index 353
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