Jean-Christophe Babin, the boss of Bulgari, an Italian jeweller, says it was the spread of high-end, beautiful malls in Asia that did most for growth. In particular, status-hungry Chinese consumers propelled luxury’s recent long expansion.
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Luxury firms were slow to adopt sophisticated digital strategies so long as the going was easy. Only 8% of total personal luxury-goods sales take place online, compared with 16% for the rest of retail (excluding items such as petrol and groceries).
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In the online world, firms especially crave fine-grained data about the most attractive customers—for example, on the “super spenders”, the minority of the ultra-wealthy who account for an outsized share of total spending.
http://www.economist.com/news/business/21719839-bonanza-spread-high-end-shopping-malls-across-asia-largely-over-luxury-goods
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