Conventional wisdom holds that when the economy flounders, the well-heeled don’t skip a beat and keep spending while everyone else cuts corners and pulls back. But early indications are that when, rather than if, the economy falters, the high-earning affluent will share in the pain. And their pain will roll over onto the luxury brands […]
Archive | February, 2023
Crisis In The Board Room As Retail CEO Vacancies Mount
Ever since the pandemic, retailers’ lack of staffers to operate the registers, unload the trucks and get merchandise on the shelf has dominated the conversation. The Bureau of Labor Statistics reported the retail sector lost almost 800,000 jobs in 2020, compared to about 200,000 jobs lost from 2017 to 2019. And at the end of […]
For A Brand To Stand Out, Forget Unique Selling Proposition (USP); Adopt Unique Point of Difference (UPD)
The concept of the Unique Sales Proposition (USP) has been enshrined in marketing and sales circles for decades. Advanced by advertising executive Rosser Reeves in the late 1940s and 50s and then introduced into the lexicon in his 1961 book Reality in Advertising, he called on brands to extend their product advertising from product features to […]
LVMH’s Growth Slowed In Fourth Quarter. Is It An Omen For 2023?
LVMH CEO Bernard Arnault opened the 2022 year-end earnings call with a simple statement that summed the year’s accomplishments in a nutshell: “I want to say once again, at the risk of tiring you, record results for the Group LMVH. We achieved just over €79 billion ($86 billion) in revenue, just over €21 billion ($22.8 […]