Luxury Consumption, Seen Under a Contemporary Light

Webber, Jennifer

doi:10.1007/978-3-658-21569-9_6

Cited by 2 publications

(2 citation statements)

References 3 publications

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“…In the introduction to this chapter, we mentioned Tiffany's pop-up store for men. Further examples are Marc Jacobs's pop-up store in 2014, which accepted social media posts with the hashtag #MJDaisyChain as a virtual currency to pay for products, 12 and two years later, Louis Vuitton's fully personalised pop-up store in brand colours, completely printed in 3D technology within only two weeks. 13 In 2020, Louis Vuitton launched a mobile store in a caravan to overcome the COVID-19 barriers with a maximum personalisation service.…”

Section: When Pop-up Stores and Partnering With Museums Build Brand Knowledgementioning

confidence: 99%

Digital Transformation of the Omni-personal Customer Journey

Schmitt¹,

Rossi²,

Bensoussan³

2021

Omni-Personal Luxury

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Digital Transformation of the Omni-personal Customer JourneyIt is the how I am going to adapt to what the client needs. You cannot standardize this. When the client enters the store, give him a cup of coffee, a glass of water or champagne, but in the end this is not where you make the difference. You make a difference on showing your real love. And showing your real love is not only about selling a watch but listening to the customer and read between lines. That is the biggest change in 2020. At AP we call it people-to-people. -François-Henry Bennahmias CEO at Audemars Piguet, Questionnaire Conducted by the Authors Key Aspects• The omni-personal experience builds on Memory, Empathy, Real time and Consistency (the MERC factors) across channels and touchpoints. • Those MERC factors need to be omnipresent across the phases of the customer journey cycle. • In the awareness phase, the customer consent is the maximum brand commitment as it opens the possibility of further one-to-one engagement. • In the engagement phase, a brand needs to convince and eliminate individual customer doubts to lead seamlessly into conversion. • The conversion phase should be dominated by perfection, excitement and satisfaction. • Fulfilment is not about basics but about enthusiasm factors, surprising the customer positively and innovatively. • The after-sales phase should guarantee personalised services to enhance the brand loyalty.

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Section: When Pop-up Stores and Partnering With Museums Build Brand Knowledgementioning

confidence: 99%

Digital Transformation of the Omni-personal Customer Journey

Schmitt¹,

Rossi²,

Bensoussan³

2021

Omni-Personal Luxury

View full text Add to dashboard Cite

show abstract

“…22 Price elasticity is rooted in the common perception of luxury products as investments in the future. 23 The expectation concerning luxury items is that the timepiece or jewellery will last for a lifetime and even beyond. The watchmaker Patek Philippe successfully puts that legacy aspect at the centre of the brand's promise: 'You never actually own a Patek Philippe.…”

Section: High-end Pricementioning

confidence: 99%

The Industry Is Special

Schmitt¹,

Rossi²,

Bensoussan³

2021

Omni-Personal Luxury

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The Industry Is Special Key Aspects• Luxury is a socio-cultural code that is commonly understood.• Luxury and its interpretation are constantly changing according to the context. • The context for interpreting luxury is defined by time, culture and society.• The interpretation of modern luxury is characterised by its democratisation, romantic consumerism, globalisation and digitalisation. • High-end luxury is differentiated based on perceived scarcity, high-end quality and price, product aesthetics and uniqueness as well as symbolism. • Customers desire luxury as it makes them feel good through positive emotions. • Luxury consumption is intrinsically and extrinsically motivated.• Luxury is an experience.• The experience tends to be immaterial, and personal perception matters.• Luxury shares common elements with art and religion.Luxury means selling dreams, and like every dream, it depends on one's personal perception and interpretation, particularly of what is luminous or boundless. Both facets are part of the origin of the word 'luxury'-the Latin root word lux translates into 'light', while the Latin luxuria relates to selfindulgence and opulence. Finding one common definition of luxury is impossible, as it means something different to every person on the planet. The customers and the changing definition of luxury are thus identified as the biggest threats disrupting luxury. 1 Luxury is also close to another

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Luxury Consumption, Seen Under a Contemporary Light

Cited by 2 publications

References 3 publications

Digital Transformation of the Omni-personal Customer Journey

Digital Transformation of the Omni-personal Customer Journey

The Industry Is Special

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