The way to recovery for the Fashion & Luxury sector

REDAZIONE
10/09/2021
In brief
Each person is unique and requires a different type of approach. It becomes essential to readjust the brand strategy on the consumer, anticipating their expectations and combining innovative services and technologies at the heart of a service-oriented brand, capable of guiding its customers along the entire purchasing process.

For the world of luxury, an effective omnichannel strategy passes through a high-level buying experience, which can only take place if the brand has at the core of its corporate strategy a strong customer orientation.

The post-pandemic normal is severely putting to the test the luxury market. This calls for new strategies capable of pulling out of the quagmire of the economic crisis one the most profitable Made in Italy sectors. How? Starting from the awareness that there are different types of customers ranging from the physical to the digital one, from the well-informed to the loyal one, to the extremely undecided one. According to McKinsey, 70% of sales is based on how the customer feels treated. Each person, in fact, is unique and requires a different type of approach. Precisely for this reason it becomes essential to readjust the brand strategy on the consumer, so as to have full knowledge of his needs and desires and retain customers and acquire new ones, anticipating their expectations and combining innovative services and technologies at the heart of a service-oriented brand, capable of guiding its customers along the entire purchasing process.

Creating a winning branding strategy enables Fashion & Luxury brands to stand apart and obtain target customers. This however requires careful planning in terms of consistency and solidity of the own identity, focusing on the quality and not on the quantity of relationships as well as on the sustainability and differentiation of the offering with respect to competition.

The implementation of such a structured branding strategy will lead the customer to interact with the brand, transforming him into a point of reference and sharing with him quantities of data and information useful for structuring personalized and engaging campaigns, both online and offline, with omnichannel services extending over the entire customer journey. This will have a knock-on effect also on the brand’s profit, as, in fact, customer-oriented companies are on average 60% more profitable than those that do not apply this attention to the consumer.

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It is therefore necessary to study and develop a service-oriented architecture capable of merging and making the different sales channels of the brand communicate with each other and, at the same time, provide services for an engaging and valuable customer experience. Data sharing, order collection and sorting, store management and other retail solutions allow to enhance the buying experience to meet customer demand online and accelerate the flow of information between all corporate departments and between elements of the supply chain.

The sharing of data also serves to give visibility to the purchasing potential that the customer has on each of the platforms, as, for example, greater access to the stock of products, accuracy in the delivery forecast, shipping speed, up to a mix of multiple solutions, such as click & collect, buy online pickup in store, or in-store purchase and home delivery.

These elements contribute to the creation of customized, valid and performing omnichannel services in order to make the customer’s shopping experience stimulating and rewarding and, at the same time, make him experience the personality and atmosphere of the brand by conveying uniqueness and distinctiveness, because today it is not the product, nor the brand, but the customer and the services offered that must be placed at the core of the business strategy, both in-store and through digital channels.

Learn more about Venistar and its omnichannel shopping experience.

The way to recovery for the Fashion & Luxury sector

The way to recovery for the Fashion & Luxury sector

Fast, lifewear, preloved: the words of fashion

Fast, lifewear, preloved: the words of fashion