04.23.2024
Why You Should Take Power BI Classes
Posted by Marbenz Antonio on July 13, 2022
As the average luxury consumer profile transforms, with Coresight Research reporting that over 70% of them are now millennials and Generation Z, the brand luxury shops must consider engagement that extends beyond the walls of their boutiques and into the internet sphere. While many luxury retailers were concerned that always-on accessibility would damage their brands and weaken hard-won customer relationships, many are discovering that incorporating digital tools can improve personalization, highlight what makes their products more attractive, and even create the scarcity that drives much luxury consumption.
As luxury brands analyze how to build relationships with younger consumers with increasing buying power, this Retail TouchPoints Special Report offers top recommendations to consider, including:
Estée Lauder has created a common IT/Retail/OMNI governance and launched a Direct To Consumer (DTC) program. Despite extreme constraints such as confinement, health protocols, budget cuts, international travel restrictions, and hardware shortages, they have succeeded in implementing their roadmap and providing new essential services to their customers, such as integrated payment, click and reserve, loyalty, and gift card.
Bally, which was founded in 1851, is one of the world’s oldest luxury companies, producing shoes, bags, accessories, and ready-to-wear clothes. While the brand evolves to serve numerous generations, it is committed to providing outstanding quality and customer service. Bally is replacing its current Retail Point of Service (POS) systems with Oracle Retail Xstore in 18 countries to deliver on this commitment. Bally employees will have simple access to the data they need to better understand customer preferences and move freely to help customers discover the items they are looking for – whether in-store or online – and check out with ease, thanks to the mobile Oracle solutions.
To create the most effective in all of the Prada Group’s core retail activities, the Prada Group has implemented a suite of Oracle modern technical solutions. They will also assist the company in analyzing historical data and current market demands throughout its global retail network of 634 stores, allowing it to make better business decisions and provide a more personalized consumer experience.
The Prada Group will optimize its merchandising process, including sales and forecasts, performance analysis, margin, open-to-buy, inventory management, supply chain, and inventory allocation, with Oracle Retail Cloud Services Merchandise Financial Planning, Assortment, and Item Planning. Implementing this solution will result in a more informed examination of the Group’s key performance indicators (KPIs) and a greater ability to set new goals and allocate more precise budgets.
With Oracle Retail Customer Engagement Cloud Services and Oracle Retail Xstore Point of Service, the Group will be able to deepen its customer relationships at the point of purchase. The two platforms will enable real-time visibility into all customer-related facts across all connections, allowing for a more personalized buying experience. Discover more about Prada.
Chalhoub, a luxury retailer, uses Oracle Retail Xstore Point-of-Service to improve its customer experience. Chaloub’s Oracle Retail Xstore deployment was the first in the Middle East and took six months to complete in collaboration with Logic Information Systems. The Dubai storefront project comprised the deployment of more than 100 registers, 60 of which are mobile, bringing the brand mobile checkout, integrated payment systems, and improved retail operations.
In Damascus, Syria, Chalhoub began as a family business licensing foreign brands in 1955. It presently has a network of 650 retail outlets in the Middle East, carrying fashion and cosmetic names such as Chanel, Louis Vuitton, and Christian Louboutin. The Chalhoub Group now employs over 12,000 people across 14 countries.
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