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A NEW PARADIGM OF SHOPPING: More Profitably Marketing to Web-enabled Buyers

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Mark Twain once observed, “Reports of my death have been greatly exaggerated.” In the same spirit, many retailers are strategically leveraging technology and ecommerce to refute predictions of the death spiral of brick and mortar.

According to Forrester Research, e-commerce sales will hit $414 billion in 2018. But will only account for 11% of total retail sales.

The majority of luxury spending still occurs in-store and there is evidence that many luxury marketers are adapting to the growing community of best customers buying offline.

Research from RJMetrics shows that the top performing ecommerce companies acquire new customers at a rate of 3.5 times faster than the “average” ecommerce companies.

Some of the challenges luxury marketers must address include:

• Showrooming (visiting stores in to view a product before buying it online at a lower price) is now a practice of four of every ten consumers.
• Enhancing and better integrating of ‘bricks-and-mortar” and online selling, marketing and pricing.
• Better understanding the strategic marketing implications of best customers’ increasing use of mobile and online devices.
• Personalizing online communications and service.
• Studying of ‘the big boys’ like Amazon and employing their best online marketing, sales and customer services practices including groundbreaking payment and shipping practices, heightened security and customer data protection.
• Developing of ‘next-generation’ search techniques.
• Increasingly surgical segmentation, enabling luxury marketers to cross-sell and up-sell best customers based on their historical buying patterns and preferences.
• Given ‘the hunger to know’ and the rise of a connoisseur mentality, better educating best customers about value of products/services.

Please join us and our panel of experts as we explore how technology and customers’ online and in-store experience will impact the longevity and profitability of brick-and-mortar stores.