Luxury Retail
“Success in luxury retail means to approach growth with a 360-degree mindset. There are two equally important needs: to offer innovative products shouting your brand’s vision, and to understand ever-evolving consumer preferences.”
Growing retail brands respond to the customers’ senses of fulfilment and connection. Whether through brick-and-mortar stores or online shops, customers deserve to feel the immediate immersion–which must remain with them wherever they go. Loyalty comes with effective brand communication, and that requires tailored market research.
We foster the brand growth of luxury retail firms by identifying the leading trends and opportunities of your consumers. We then apply our market research insights to the specific needs of your brand. Consider the questions: What does our target audience want, today? Are we demonstrating our relevance? How will the trends evolve into tomorrow?
How we guide you
- Develop the strengths of your brand’s story
- Gather market research insights relevant to your goals
- Guide your marketing campaign
- Improve point of sale conversions
Increasing Share of Wallet with
Affluent Consumers
Objective
Our client sought an in-depth understanding of key touch points influencing Chinese luxury consumers at different stages of a transaction’s journey–inspiration, research, purchase, and post-transaction.
Approach
We developed a technology-led approach using a 7-day WeChat diary recording daily social media behaviours of our client’s target market. We focused on the ‘inspiration touch points’, whether online or in-store, through solutions such as eye tracking devices.
Impact
After we fostered a digital ecosystem supporting effective sales methods at points of conversion, our client noticed significant increases in customer engagement and top line revenue.
Re-envisioning a Flagship
Store Launch
Objective
Our client, one of the world’s largest duty-free and travel retailers, sought to deeply understand the travel shopping trends in one of the most celebrated art cities of Europe. As part of the planning process for a new flagship location and their brand’s expansion, they needed to understand the destination’s travel patterns, the preferences of its tourists, and their propensity to purchase luxury products.
Approach
We maintain a database focusing on market research insights specific to affluent consumers. We leveraged this database into actionable solutions designed to increase our client’s footfall (visits) and conversation rate. We applied our insights to all the brands carried by our client.
Impact
Our client re-envisioned their launch strategy by (1) optimising their media spend, (2) utilising country-specific marketing for multiple locations, (3) ensuring that sales staff spoke relevant languages, and (4) building partnerships with key travel carriers. They achieved their goal of increased footfall and sales conversion.
Understanding Covid-19’s
Impact in Japan
Objective
Our client, one of Japan’s leading luxury retailers, sought to gain a comprehensive understanding of Covid-19’s impact on the attitudes, perceptions, behaviours, and preferences of female Japanese clientele. They wanted to understand what influenced their final purchase decisions for the fashion, watch, jewellery, fragrance, and skin care markets.
Approach
We decided on a quantitative online survey to be conducted in two waves, May through June, and November through December 2021. We targeted those consumers earning at least 10 million (single) or 16 million (married) yen per year and ensured a sample size of at least 750 participants per wave.
Impact
Equipped with the data and conclusions of our study, our client recognized and understood the changes in luxury fashion and cosmetic marketing—in addition to the latest brand preferences and purchase expectations of affluent Japanese women. Over the course of roughly two years, the pandemic caused noticeable shifts in Japan’s fashion and skin care markets.
