Luxury Retail – The Online Experience
Received Date: April 10, 2019; Published Date: May 03, 2019
The concept of luxury is as old as humanity even if over time meant different things, luxury is a conceptual and symbolic dimension and it is today the result of a historical evolution. Luxury is mainly irrational and engages strong and intense emotions, it is multisensory. “Luxury is above all a world of brands” Philip Kotler. The luxury brands go beyond the object: they are built from the reputation made from their creations within the social elites and trendsetters. The major conclusion Professor Dubois studies is that consumer attitudes and behavior towards luxury are ambivalent following an attraction/avoidance pattern (sometimes occurring within the same person). The watchword for luxury is experience and the shop is where the client lives the brand. Professors Bastien and Kapferer presented 4 modes of distribution , each one more suitable (than the others) according to the products/services and/or the markets where the luxury brand operates. To be able to be successful in selling luxury online, luxury brands have to build and implement an e-business strategy, the model presents 10 tactical important aspects. Today the world faces an uncommon and violent turbulence; severe crisis in Europe, instability in United States and accelerated growth in BRIC countries (Brazil, Russia, India and China) and soon in the CIVETS’s (Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa). However, the extraordinary results of the most important luxury groups are encouraging and reveal that so far challenges have been transformed in great opportunities. This paper has been adapted and updated from sections of the book, translation: Luxury Empire – Building Success.
Keywords: Luxury; Brands; strategy; Customer; E-retail; Success