OPERATIONS ou’ d be forgiven for thinking that the customer journey ends at the point of sale. It’ s an approach that has been at the heart of traditional consumer-facing business models for many years. But, it’ s a business strategy that is changing, as technological capabilities and shifting consumer demands lead organisations towards seeing outcomes as continuously evolving journeys. Brands, particularly those in the luxury sector, that can shape their identity and customer experience around trust and long-term loyalty can build customer relationships that can last a lifetime – or even span generations. But building this kind of relationship requires a strategy that allows customers to feel like the brand experience is personalised to their own lives – with a series or touchpoints and, often, the use of digital technologies offering the highest levels of experience.
80 %
of luxury sales are digitally influenced
Source: McKinsey & Company
Customer journeys in the luxury sector Customers in the luxury sector often have many more interactions with a brand than they would have previously, with research from McKinsey & Company finding that close to 80 % of luxury sales are digitally influenced – meaning that a customer is engaging with one or more digital touchpoints during their journey to a sale. To ensure the luxury customer journey still feels exclusive, brands such as Hermès are maintaining their traditional customer experience, with waitlists for a Birkin bag sometimes lasting for years. When this approach is combined with high customer demand and a product that meets consumer expectations, however, it can turn the act of waiting into a truly engaging journey. Similarly, Ferrari has created a customer experience where buying one of the famous prancing horses is synonymous with entry into a family – creating a highly exclusive relationship through the Ferrari Owners’ Club and the MyFerrari app, where customers can engage with other members of the‘ community.’ businesschief. com
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