How Can Luxury Retailers Thrive in Today’s Retail Environment?

Retailers in all verticals are having trouble adapting to the shifts in retail today, but luxury brands have their own distinct set of challenges. While all retailers are contending with online competition such as Amazon, luxury brands have to navigate an aging customer base of baby boomers, Millennials who are more price-conscious, and customers who highly value service and experience.

This means that luxury brands need to think about how to create experiences that will better appeal to an increasing number of Millennial customers. Some of this can be done by expanding omnichannel services and creating mobile-friendly online channels that seamlessly communicate with brick-and-mortar stores. But the bulk of the work comes from how best to market and sell luxury products to a demographic that grew up through the Great Recession. Luxury goods need to not only deliver value and style that doesn’t compromise on substance, but also provide customers with a sense that they are living a luxury lifestyle that emphasizes exclusivity.

To do this, brand representatives need to provide an excellent, flawless, and consistent experience to every single customer that comes into the store. Every customer needs to feel like they’re buying a piece of the lifestyle they desire, and creating that feeling requires brand representatives in the store to connect with individual customers.

How to Create a Flawless Customer Experience Every Time

How can luxury retailers empower brand representatives and give them the ability to create excellent customer experiences? Real-time store operations solutions simplify the work brand representatives have to do, giving them more time to interact with customers. These solutions provide the following benefits:

• Streamlined Communication: Task management solutions streamline corporate-to-store communication, increasing time that brand representatives spend with customers by 20 percent.
• Optimized Coverage: Workforce management solutions provide real-time visibility into changing customer traffic patterns, making sure the right ratio of brand representatives to anticipated customers is maintained at all times.
• Real-Time Response: Solutions that provide real-time visibility make it easy for retailers to create new sales opportunities within their stores, as they can use real-time data from beacons, social media, and IoT sensors to make brand representatives more effective.

Customers want luxury retailers to work with them to create the lifestyle of their dreams. Real-time store operations solutions help make that happen.