Not long ago, 24 “anti-laws” of marketing detailed principles — like “forget about positioning,” “make it difficult for clients to buy,” and “do not sell openly on the internet” — that counterintuitively helped luxury brands set themselves apart and command high prices.
Then, in June 2017, LVMH (a French conglomerate that owns luxury brands like Louis Vuitton, Moët & Chandon, Christian Dior, and more) launched their multi-brand ecommerce website. And that seemed to put the final nail in the coffin of the traditional marketing strategies that governed the luxury retail experience.
Technology has changed everything. Today, most retailers are living on the same plane — the digital plane. The plane where ecommerce giants like Amazon have taught consumers that they can get pretty much anything worth wanting quickly and for a competitive price. The plane where a great digital retail experience is the norm.
Here’s how the times are changing for luxury retailers, and strategies that decision-makers in the luxury retail space can implement to translate their unique brand into a digital format.
Read the full article at: www.contentstack.com