Luxury brands must brush up service to succeed Posted On : May-26-2010 | seen (268) times | Article Word Count : 509 |
Creating a craving for that designer handbag or that trendy watch isn't enough to get customers to whip out their credit cards Throwback Detroit Tigers Jerseys , but treating them well certainly can, an expert on luxury brands says. Creating a craving for that designer handbag or that trendy watch isn't enough to get customers to whip out their credit cards, but treating them well certainly can, an expert on luxury brands says. Michel Phan of the Paris-based ESSEC Business School, which runs the world's only luxury brand management MBA program, says service -- online Custom Detroit Tigers Jerseys , in-store and after-sale -- is vital for luxury retailers in Asia. Research shows affluent households are expected to spend just over $605 billion on discretionary items in 2015."Service is the weakest link in the luxury business model," explained Phan, assistant professor of marketing at ESSEC. "I often tell retailers -- you have a beautiful product, a wonderful store, but when it comes to service, it's not on par Authentic Detroit Tigers Jerseys , or it鈥檚 not even there," Phan, director of the MasterCard-ESSEC luxury brand management executive program, told Reuters. Compared to Europe and the United States, many Asian economies have weathered the global financial crisis, driving several luxury retails to look eastwards for growth. LVMH Detroit Tigers Jerseys For Sale , the world's biggest luxury goods group which owns the Louis Vuitton brand especially popular in Asia, said China was the main contributor to emerging market sales, which make up about 30 percent of turnover. Rival Richemont, the world's second largest luxury group in terms of sales and which includes the Cartier brand, also counts China as one of its main markets. In Asia, Phan said luxury spending was expected to grow between 6 and 7 percent in the year starting July Cheap Detroit Tigers Jerseys , compared to a decline of up to 15 percent in the United States and a drop of up to 5 percent in Europe. But even though they have more cash to shop with, Phan said the economic doldrums had put a brake on a lot of impulse buying in Asia, making top-notch service especially pertinent."No one ever says 'Congratulations for buying this brand, you've done well'," Phan said. "It's not enough to say 'Our brand is expensive or known'. You have to make customers connect with your brand, especially during this crisis Daniel Norris Tigers Jersey , when they're more reluctant to buy on the spur of the moment. You have to give people a good reason to buy." With the ranks of the newly rich swelling in some Asian countries, luxury retailers need to educate potential customers about their wares, Phan said, in contrast to Europe where affluent customers who frequent luxury retailers are well aware of the value of what they're buying. Phan, who admits he's on a one-man quest to improve the service at luxury retails across Asia, said sales teams should appeal to customers' emotions Michael Fulmer Tigers Jersey , online or at the store, to succeed."You've got Japan and South Korea, which are mature markets for luxury, but in other emerging markets such as China, consumers don't know much about the history of the brand, and this is the area that services can make a good contribution Jordan Zimmermann Tigers Jersey ," he said. Tell them a story, tell them the history. Such as: watches, replica handbags, a pair of shoes can become so much more if you educate people.
In a hectic world, it's all too easy to reach the point of feeling stressed out beyond our ability to cope. Yet it's our ability to cope that makes all the difference. The point is that stress is not going to go away; it's here to stay.
If you find yourself reading a book or attending a seminar that says you can eliminate all stress, either throw the book down or leave the room.
You cannot eliminate stress. But you can learn to handle stress successfully.
Let's look at six different strategies for successfully handling the stress in our lives. Each can be used separately or in conjunction with the others.
1. Talk it out
Whatever we don't talk out Jack Morris Tigers Jersey , we act out. That's a basic rule of mental health. If we don't discuss the issue, it's sure to surface in some other way.
2. Take mini-vacations
It's a mistake to think that we can push hard all year (or maybe longer) and then expect that all our stress can be healed in a one or two week vacation. It just doesn't happen.
Our bodies, minds and spirits need more frequent breaks. This is especially true if you are one of those people who schedules a vacation as they would a typical work day, so as to get the most out of it.
3. Distinguish between stress and pressure
Stress comes from the outside; pressure, on the other hand, is an inside job. Pressure is what we tell ourselves about the stress.
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