Digitalisation is moving forward quite quickly, and this moment reminds me of the late 1990s when the tech book was going on. It is obvious that the marketplace will introduce lots of gimmicks, and it requires precision to discover the right ones. World famous luxury brands are already using digital tools in a very nice way. They are present on social media channels, and they are sharing high-quality photos and videos. At the same time, they are constantly renewing their websites in order to keep up with the latest trends in the web design world. Also, Vertu's online concierge is a very good example of how luxury brands should practice online customer service.
There is an interesting article Virtual Reality: Growth Engine for Fashion? on Business of Fashion. This technology has a chicken and egg problem, which means that brands are aware of this emerging technology but the major problem is that the number of users (customers) are still very low. If people will get excited about VR and AR (Augmented Reality), then there is a lucrative market to enhance customer experiences.
However, let us get back to basics. Digital marketing and e-commerce are one of the most important places to drive national and global growth because the current digital environment makes it more easier to reach for new customers and to keep long-time customers on board. It is also important to integrate the same customer experiences between shops and the online worlds. It must be emphasized that most sales come from shops, over 90 percent. Under ten percent comes from online shopping. However, do not underestimate the importance of digital marketing because people are spending their time online.
I will give you an example. Let us say that there is a jewelry designer in a city, and the brand has only one shop. It can reach to a large clientele by practicing digital marketing by creating a very stylish website and using social media channels. It can serve its customers online by using phone calls, SMS, email, Skype, instant messaging and many others. And ship its creations around the world. At the same time, it must keep its shop in a very nice condition because customers might want to pick up their pieces of jewelry when they are ready because it is an experience for them.
Published in Luxury Sales Academy.