Even today’s most successful luxury companies need to attract new high-net-worth clients and marketing is not enough. However robust the business trend, sales with current clients are not the best predictor for future sales of its highest-end products. Achieving...
While today’s high net worth clients are demanding more personalization, luxury retail has become more impersonal. The velocity with which luxury is growing, along with the unprecedented turnover of its sales teams is magnifying this challenge. Clienteling,...
In the several years since we first published our article about the gap between customers and retailers, the world has seen a global pandemic, supply chain shortages, and escalating prices crossing all industries – and yet, luxury managed unprecedented growth in the...
It’s unquestionable that luxury brands have executed brilliantly in creating customer demand for their products and services – perhaps more than we thought was possible considering the current environment. But since relationships are the lifeblood of luxury retail...
Ask employers if sales advisor turnover negatively affects their business, and a majority say YES! Ask luxury retailers, and the number climbs toward 100 percent. Retention of high-performing sales advisors is high-end brick-and-mortar’s biggest challenge today. Over...
Customer demand in the luxury sector is so robust that many sales advisors are selling transactionally and not applying core add-on skills. Do your sales teams have what it takes to… Sell beyond the ask? Short-term transactions threaten the long-term business....
