The secondhand luxury goods market will grow 4X faster than the primary market. The RealReal is in on the ground floor.
How to Fix the Problem in Department Stores
No two ways about it, department stores are in a heap of trouble. From 2007 to 2018, sales in department stores, excluding discount department stores, declined a whopping 32.4%, dropping from $76.9 billion to $52 billion in 2018. Only stationery and office supply (-47.4%) and bookstores (-40.2%) declined more, according to the Census Department’s Retail […]
Tiffany’s Six-Prong Strategic Plan for Growth
Tiffany and Company is still a work in progress, but its leadership is confident it has a strategic plan in place that will lead it to prosper over the long term. Tiffany’s 2019 Q1 results disappointed, with worldwide sales declining 3% to $1 billion and comparable sales off 5%. Net earnings disappointed too, down 12% from […]
Luxury Consumers Are Burned Out, But Luxury Brands Keep Stoking The Fire That Caused It
New study from YouGov finds luxury consumers have reached their breaking point. Luxury doesn’t mean the same thing it once did and brands find them harder to connect with.
How Gucci and Chanel Are Going Mobile to Enhance the Customers’ Experience
Gucci and Chanel are using the power of customers’ smartphones to deliver more personalized and human-enhanced service to their customers. Gucci has launched a Florence-based call center, with five more to follow by 2020. The call center provides the expertise of Gucci’s finest shop assistants to customers throughout the world anywhere and anytime. And Chanel’s […]
