fashion avenue store

fashion avenue store

innovative ways to sell luxury brands and fashion during the economic crisis

There are basically two ways of approaching recession current economic luxury brand:

The wrong way is to compare the current situation against the development of category Over the past 8 years. The feeling is close to being in front of the precipice without arms and legs to climb ... uncomfortable! As everything is relative, 2009 can be a bad year compared to 2007, but still outstanding, if 2005 would be the reference.

The proper way is very likely to make a Blue Ocean Strategy approach and consider this as a great opportunity to innovate. As the market is shrinking, it is essential to find new (or different) sources of growth.

The marketing of luxury products is primarily driven by a pull strategy based on recipes that are considered as "must" but not necessarily a performance monitoring pragmatic. The ultra-luxury brands maintain their clientele, but many have no references in a situation where attitudes and behaviors of customers are changing. Innovation in selling high-end products means challenging the status quo in some areas, such as making the brand more accessible and improve the retail experience.

Once the product quality and integrity of the DNA of the brand and streamlining portfolio are guaranteed. Still ... Customer. The most important is to maintain contact with the consumer and the desire possess a Jaeger-LeCoultre Bulgari or attachment has not disappeared!

What could be new ways to interact with consumers with a positive and friendly attitude?

• Directed and intelligent Editions Limited

Beyond the marketing gimmick to issue 888 units of a specific attachment to attract Chinese consumers, there are ways using limited editions as a strategic pillar of a brand. The central proposal of a brand A mark may decide to reverse the paradigm and restricted use offered as standard to its portfolio. The 20 mark Limited (designers from different market categories defined quantity of a product) is a good example.

Keep in touch with consumers
Fashion designer Marc Jacobs has been launched in Paris in October 2008 his shop Marc by Marc in limited editions of the various accessories can be found in an exclusive environment at very affordable price (from 1 .- Euro). Can be a smart way to generate proximity, if the originality of the offer is still compatible with the DNA of the brand and the affordable price is not the only benefit received by consumers. Helps generate traffic in retail stores and positive feedback for the brand.

• Second-hand products

A brand could begin to market its second-hand goods in order to facilitate access to their world and generate new sources of income: It represents a risk in terms dilution of the brand image, but it is a well established business for many brands that are not benefiting from it ... being at once a success criterion for the category. For example, the Swedish fashion label Filippa K has opened a thrift store in Stockholm in the summer of 2008.

• Renting is not a shame ... more

It is becoming fashionable for rent, as it gives the opportunity to transform absence of property in a sense in favor of reforming things regularly. There is perceived more as a lack of purchasing power.

addicted fashion victims to hanbags Prada, Gucci & Co you can now make your life a paradise for the rental of these precious items and prestige href = "http://www.sacdeluxe.fr/location-sacs-bijoux.html" target = "_blank" title = "Sac de Luxe website"> Sac de Luxe (French company).

Fans of Ferrari and Aston Martin and his passion have met Ecurie 25, based on a similar principle.

• A new retail experience

Plays an important role in perception brand and making decisions to purchase a luxury product. However, the current dismal economic climate is not encouraging consumers to push the gates of the Place Vendome in boutiques. Therefore, it is even more critical to transform the contact with the consumer in a unique (within and offline).

The service level has to exceed expectations by far through Oustanding "Moments of Truth" and / or the role assigned to the experience is to be encompassed in the general proposition of the brand.

A shop fashion retail in Los Angeles Fashionlogy LA (already mentioned in on new initiatives personnalization "> recent post) is transforming the retail purchase in a masterpiece of the product itself.

The Avenue website Watch provides the prospect of some brands of luxury watches with the opportunity only to experience the brands and products online.

In another environment, a retailer of wines Denmark, Gerbole Vin, is using stories in an unconventional place as part of their core offering. This approach could support, of course, the luxury brand has a rich heritage.

Pop-up stores are a good platform to create a unique retail experience while the possibility of supporting other initiatives mentioned above. Vogue Magazine Teen Vogue Holliday opened a period at the end Haute 2008 in a shopping mall in the U.S.. It illustrates the unconventional route of the temporary presence of proximity to built for a specific purpose and generate buzz.

If the customer does not come naturally to the mark, it is up to the mark to find strings out sensitive to fuel the desire for Access your stay. It is difficult today to anticipate what would be the recipe for success for the future. However, a decisive factor will be the ability to maintain brand the consumer at the center of the radar screen, while innovation in the interaction with him or her.

About the Author

I am responsible for the marketing blog www.customercentric.org which is the basis for consultancy activities.
My core competencies: e-business, management of nmarketing channels and brand building.
I have held different positions in the area of strategic & operational marketing, sales and general management.

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