The internet created an entirely new way of buying that left out the crucial buyer experience altogether. Although the focus shifted to ‘the faster the better’ — we can expect a counter-movement where people start craving again for that highly personalised engagement and care that used to be the defining line in adding value to a brand.
It’s not that retail is dead, this is evident by the number of innovative brands continuously opening new retail locations. But, in recent times, retail is fulfilling a different function.
How we buy is clearly divided into what we need vs what we want. These two segments need separate approaches online to capture and engage your perfect market share. Luxury brand consumers wouldn’t buy the trendiest Louis Vitton handbag at a supermarket. It does not fulfil the customer’s purpose for purchasing the desired brand’s item, to begin with. Luxury brands gain their status by creating a niche—almost cult-like—market that buys into their brand value and status and wants a share in it. The buyer’s online journey needs to reflect the value of their time and funds spent—and match it with a real-life experience that makes them feel valued and recognised as part of the ‘inner circle’ of the brand.
How can brands create an authentic virtual experience and make buying online something real? How does Louis Vitton and Mercedes secure their success and retain their luxury brand status now that consumer needs and preferences have permanently shifted in virtual reality?
These hot topics take centre stage in today’s chat with Bart Burggraaf.
Bart Burggraaf is a Partner at MediaGroup. In the agency, he mostly focuses on marketing strategy, technology, new business, and staffing. Before his time at MediaGroup, he managed global marketing at Citibank’s Margin FX business and worked on online marketing for Saxo Bank in Copenhagen. Bart has lived in 7 countries over the years but is originally Dutch.
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