Weekly Retail Report
Luxury's focus on guest experience, and the market in light of Europe. Oh boy.0
Some people shop for the product, other people shop for the experience. For as long as opulence has glistened and shined, luxury retailers have aimed to provide a sumptuous experience for their guests. Today, many luxury brands are remarketing themselves in an old way – by wooing their guests. Concerned that guests weren’t being individually attended to, luxury forefather Bernard Arnault is set on improving their experience.
The recession forced retailers to focus on their “regulars” and Arnault’s revamped idea to boost sales aims at stretching the existing guest’s purchases. It’s one-on-one marketing at it’s finest. Literally. But it also means that if you’re lucky enough to have the bank for large purchases, luxury retailers are going to be milking you for personal information down to your children’s schools and names and storing it in their system. Basically what nonprofits do with large donors, but in this case, a sick child doesn’t get their dream-come-true.
Stock news didn’t get our goat this week. The bond market was effected by debt in Europe…as was every other market. Everyone was down at some point. The lowest in retail stock news were American Apparel, Revlon, Pacific Sunwear, Stein Mart and the ever volatile Bluefly finished in the red while Joe’s Jeans, Hot Topic and a bunch of other companies you’ve never heard of finished black.
We’re hoping for a worldwide rally for next week…in shopping.
Posted by Emma Dinzebach at 12:00 AM
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