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Develop a winning customer experience in the digital world

Luxury consumers are changing – they come from all over the world, they are young and they are digital natives. How can luxury brands that have built themselves as pure physical players adapt their business model and practices to address their expectations without abandoning their luxury DNA?

Luxury Retail and Digital Management, 2nd Edition sets focus on the major retailing challenges and customer evolutions luxury brands are facing today: the digitalisation and the emergence of the millennials and Chinese luxury consumers. These major changes have been affecting the distribution and communication channels of luxury brands; they now have to think simultaneously physical stores and e-commerce, global marketing and digital marketing. 

• Defines all the tools that are necessary to manage luxury stores including analysis of location and design concept

• Explores the selection, training and motivation of the staff

• Covers everything executives, managers and retail staff need to know in order to enter, expand, understand and succeed in the world of luxury retail

Written by luxury retail experts Michel Chevalier and Michel Gutsatz, who lend their solid academic credentials and professional expertise to the subject, Luxury Retail and Digital Management, 2nd Edition provides deep insight into the main challenges that luxury brands are facing in this digital age.

Table of Contents

  1. Cover
  2. Foreword
  3. Introduction
    1. What Is the Reason for This Revision?
    2. Change Is Accelerating: The Luxury Customer Is No Longer the Same
    3. Note
  4. Part I: Important Choices in Luxury Distribution
    1. Chapter 1: The Various Models in Luxury Distribution
    2. Direct and Indirect Distribution
    3. Evolution and Perspectives of the Various Types of Sales Outlets
    4. Advantages and Disadvantages of the Various Distribution Channels
    5. Notes
    6. Chapter 2: Do Luxury Products Still Sell in Stores?
    7. The Owner Becomes a Retailer as Well
    8. Different Situations According to the Different Luxury Segments
    9. Watch Manufacturers and Niche Perfumers Are Creating Single-Brand Outlets
    10. The Future of Multi-Brand Stores
    11. The Special Case of Travel Retail
    12. Note
    13. Chapter 3: Concept and Design of a Luxury Boutique
    14. Relaunching a Brand: The Urgency for a New Concept of Boutiques
    15. The Concept of the Boutique: Applying the Brand's Vision
    16. Store Formats: Closed or Open?
    17. Customising Boutiques and Flagships
    18. Visual Merchandising and the Institutional Image of the Brand
    19. Notes
    20. Chapter 4: Online, Offline or O2O?
    21. From Yoox.com to the Merger with NET-A-PORTER.com
    22. A Brief History of the Love/Hate Relationship that Luxury Brands Have with the Internet
    23. Note
  5. Part II: Know and Understand the Client
    1. Chapter 5: Putting the Customer Back in the Centre
    2. Looking at It from the Customers' Side: Why Have They Logged On and How Do They Use the Internet?
    3. The Seven Rules of the Internet and Social Networks
    4. Notes
    5. Chapter 6: Customer Identification and CRM
    6. Managing the Customer Database
    7. Marketing Data
    8. How Can One Recognise a Client?
    9. Using the Customer Database
    10. Notes
    11. Chapter 7: The Challenges of Offline and Online Integration
    12. What Are the Criteria for Offline/Online Integration?
    13. Global Tracking of Customers (Especially Chinese)
    14. Notes
    15. Chapter 8: Logistics Adapted to a Digital Culture
    16. The Traditional System
    17. Number of Stores in Each City
    18. Details Are Important in a Logistics System: An Example
    19. The New Logistics Systems
    20. Stores Without Sales Staff
    21. The Challenges of Logistics
    22. Notes
  6. Part III: Making Client Relationships More Meaningful
    1. Chapter 9: Customer Behaviour in the Store or Online
    2. Store Behaviour Patterns
    3. Expectations and Perceptions in a Store
    4. The Basic Rules of Supermarket Merchandising
    5. Notes
    6. Chapter 10: The Importance of Stores for Building Customer Relationships
    7. Why Sales Staff Need to Know Everything About the Brand
    8. The Problem of Retail: Retaining One's Clients
    9. Managing a Store: A Very Special Job
    10. Building a Customer Relationship: The Challenge of Individualised Service
    11. Notes
    12. Chapter 11: Customer Experience and Building Loyalty
    13. Step 1: Focus on the Customer
    14. Step 2: The Loyalty Effect – Transforming Regular Customers into Brand Ambassadors
    15. Step 3: Offer a Unique Experience – and Anticipate All the Possible Consequences in Terms of Internal Organisation
    16. Step 4: Define the Contract Between the Brand and Its Customers and Adopt Four Tools for Business Optimisation
    17. Step 5: Define Customer Journeys and Identify Important Contact Points
    18. Step 6: Elaborating the Customer Experience in Luxury Brands
    19. Notes
    20. Chapter 12: How the Internet Has Shattered the Traditional Sales Model
    21. Is Selling Online Sufficient in Itself?
    22. Is Selling in Stores (Offline) Sufficient in Itself?
    23. Notes
  7. Part IV: Management Tools for Luxury Stores
    1. Chapter 13: Location of Sales Points
    2. The Classification of Stores in the Mass-Product Market
    3. The Case of Luxury: Different Types of Sales Outlets
    4. How Many Outlets Should There Be in a Given City?
    5. ‘A Store Should Be a Place of Worship’ or an ‘Institution’
    6. In Which International Cities Should One Open Stores?
    7. The Case of Mainland China
    8. Why Choose One City Rather than Another?
    9. Trade Areas Analysis
    10. Clusters
    11. Adapt the Location to the Hallmarks of Luxury
    12. The Various Types of Commercial Leases
    13. Note
    14. Chapter 14: Managing Store Personnel: A Toolbox
    15. Tool No. 1: A Typical Sales Organisation
    16. Tool No. 2: Managing the Recruitment of Sales Teams1
    17. Tool No. 3: Defining the Responsibilities of Store Personnel
    18. Tool No. 4: Job Descriptions
    19. Tool No. 5: Career Advancement
    20. Tool 6: Setting Turnover Targets
    21. Tool No. 7: Defining a Fair Retail Compensation System
    22. Tool No. 8: Grooming Guidelines for Employees
    23. Tool No. 9: Global Business Ethics
    24. Note
    25. Chapter 15: At What Price Should Products Be Sold?
    26. Pricing Policy Under Normal Conditions
    27. Let Us Look at Margins Again
    28. The Particular Case of Fashion Retailing
    29. Price Reductions and Sales
    30. Note
    31. Chapter 16: Financial Analyses of Sales Points
    32. Financial Analysis of a Sales Point
    33. Applying Key Ratios
    34. Turnover Forecasts
    35. Inventory and Controlling Margins
    36. Analysis of Returns on Investment
    37. Information Systems
    38. Note
  8. Conclusion
    1. Note
  9. Bibliography
  10. About the Authors
  11. Index
  12. End User License Agreement
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