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Premium brands in the age of digital : What are the e-luxury codes ?ESCP EAP – February 25th, 2008
NURUN IN BRIEFFounded in 1985, Nurun is a global interactive services company that specializes in interactive marketing and information technology.
Present in Canada, in the U.S., in Europe (France, Italy, Spain) and Asia (China).
Owned by Quebecor, 5th worldwide communication group ($10 billions revenue).
Some of our references in the Premium / Luxury sector : Louis Vuitton, Sofitel, Clarins, J.M. Weston, Sonia Rykiel, Kérastase, Giorgio Armani Parfums, Nina Ricci, Lancaster, Comptoir des Cotonniers…
I. FACTS THAT ARE ROCKING OLD SCHOOL CONCEPTIONS OFLUXURY
1. The richer you get, the less likely you'll set foot in a store
93% of individuals worth $10 million or more made online luxury purchases within the past 12 months, vs. 55% of all wealthy consumers
Source : Luxury Institute, July 2006
2. Luxury buyers are tech-savvy –in the smart sense
For luxury goods, nearly 80% of consumers turn first to the Internet to learn about companies and the products they sell
Source : Luxury Institute, July 2006
3. But they're also full of great common sense
Google and Yahoo! are the top sites visited by the wealthy in the US
Source : Market Wire, March 2007
4. Luxury doesn't just mean an expensive purchase
70% of luxury buyers consider that a luxurious experience is made by the quality of service
70% of luxury buyers consider that a luxurious experience is made by the quality of service
Source : « The Global Luxury Market » ,Conference Board, 2007
5. It doesn't matter where you got it–and online luxury isn't 'dirty'
Gucci.com is one of the company's fastest growing segments, with sales up 65 percent in 2006 from the prior year *
* CNN Money, June 2007
6. Luxury brands no longer hiding online
Source : TNS Media Intelligence, 2005 advertising investments
DIGITAL DEFINITELY
CHANGING THE FACE OF LUXURY
"What's exclusivity on a widely accessible media?"
Luxury isincreasinglybecoming a marketpositioning
Internet makes productsavailableanytime andanywhere to anyone
" How do you meet creative and service expectations when mass does it better online?"
Creative domination : immersive, demonstrative and spectacular settings
Initiated by online mass retailers, thoughtful services target specific user needs
"How do you create a sales ritual if there's no sales rep?"
Productscenographylives up to theonlinechallenge
Yet sales rituals remainbelow the realthing
LUXURY SHIFTING TO INTERACTIVE, CLIENT-CENTRIC AND EFFECTIVE
Link immersive experience to product discovery
http://www.sofitel.com
Root luxury legitimacy in excellence and legend
http://jmweston.com/
Emphasize services valuing the brand expertise
http://www.zegna.com/
Target and address specific customer enquiries
http://shop.nordstrom.com
Facilitate contact with brand experts1 2
http://www.reddoorspas.com/
Fulfill client satisfaction through ownership
http://www.20ltd.com/
Reward purchase with insider status
http://beauty.dior.com/
Online users do come to luxury websites for a reason
Benefit of use, offer or service is what will drive them to a website, and motivate revisit
Demanding customers anda strong competitiveenvironment justify a realisticcustomer-centric approach ofthose benefits
Taline MOURADIAN Strategic Planning Director, NURUN [email protected]
Thank you.