The premium segment includes products, the price of which is much higher than the average in a particular product category and which have a significant functional advantage compared to the products of the average price segment. But an important characteristic of premium brands is their particular emotional perception by their consumers, which are willing to pay a higher, “premium” price. Special status of customers distinguishes the luxury segment. Therefore, the approach to sales of VIP customers is somewhat different.
One of the modern factors that influence how they sell in stores with premium goods is free access to information that everyone has and the opportunity to explore the desired product from all points of view. Thus, a potential buyer becomes a real expert, sometimes even more advanced than a sales consultant, respectively, in order to improve sales luxury of goo0ds, new sales techniques and sales strategy are needed. This feature also contributed to the development of Internet trade in luxury and high-end brands.
So, here are some advices on how to increase sales in luxury retail sales segment
Ensure the service of the highest quality
The competition in the retail sector is extremely high and will continue to grow further, especially in the luxury brand segment. As for e-commerce, it is necessary to ensure the most convenient connection for customers, to invest in technologies that will allow your store to be available anytime and anywhere and to meet the needs of the widest possible range of customers. According to a study conducted by the Boston Consulting Group (BCG), 4 out of 5 buyers of top luxury brands require several communication channels; they expect a positive experience of interaction in all available communication channels regardless of geographic location.
In addition, multi-channel also means that the retailer should provide the same level of service during delivery, the same marketing materials in all channels, and the same bonuses and incentives, and maintain a high brand image. The modern level of technology development and attention to detail will allow online stores to provide all customers with the most comfortable service, regardless of the preferences of the client, his/her age, or location.
Look for new forms of communication and interaction
All means are good in a highly competitive retail environment of high-end brands. It is not worth to rely solely on the high level of qualifications of sales consultants. It is better to try to expand the scope of interaction with the client and provide him/her with an interesting new experience; your sales consultants should try to establish communication with a client, add sophistication and sharpness to perception with the help of modern technologies. Personalization in the interaction of the customer with the store is very important and useful, and for this purpose, a lot of technical tools have been developed providing the connection and affection that are so necessary for the formation of customer loyalty. Due to the widespread use of smartphones, tablets and other portable gadgets, particular attention should be paid to that. It is with the smartphone that the person interacts most often during the day. The application, groups in social networks, sending SMS – all this will draw attention to the right things.
Try to exceed customer expectations and amaze them (in a pleasant sense)
It is difficult to surprise a modern buyer with something, it is even harder to surprise luxury brands customers who are used to attention, but you still need to try to do it. Here you can bet on facilitating the selection of products for a particular event, for example, on the day of the wedding. Clothes, shoes, accessories, and other small things – b2y grouping these offers and making routine operations as simple and quick as possible, you can provide your customers with a pleasant interaction experience, which ultimately will give you the necessary loyalty. Accelerating the sales process, its automation will enable customers to get the best experience.
Bet on young customers in your sales strategy
The representatives of different generations differ significantly from each other regarding their perception of the world. Appropriately, approaches to different groups will be different. Now Millennials are the largest and most economically active generation, so the main efforts should be directed to this target group, as the most promising.
This category of customers is actively using all sorts of online tools, and expect excellent experience and pleasure at all stages of interaction, both online and offline.
Now let us consider the typical mistakes made by those engaged in online commerce.
A. It is not enough to make the description of goods and content only once
A typical misconception which causes weak traffic, a lack of interest from visitors and a low ranking in search results. The task of updating the content and descriptions of an online store should be performed periodically.
B. Copy content from other sites
Today, search engines are actively lowering the ranking in the search results of sites that copy other people's articles. Search engine robots that index web pages of sites like original, unique content. Thus, when making a description of goods on the website of an online store, it is worth spending a little time and effort to create your own text describing the merits of the goods.
C. Stagnation in the assortment of goods
As in the traditional trade, where retailers try to periodically update shop windows depending on the season or the arrival of a new collection, it is also worth updating the assortment on virtual windows of online stores. If you see a drop in demand even for marketable goods, it is worth modifying your product collection, it is possible to add new products or their varieties. So, many successful online stores often earn not only on best-selling goods but also on related accessories recommended for them.
D. Ignoring customer questions and complaints
Sometimes even a profitable online store may experience a similar problem, which will 100% lead to a decrease in its popularity and, as a result, to a decrease in orders. Ignoring customer problems will also inevitably lead to the emergence of a negative reputation plume both on the store website itself and on various Internet sites and social networks.
E. Poorly organized service and logistics
Chaos in stock, non-automated accounting of goods and their availability, an unorganized system of delivery of goods – all these poorly-developed internal work systems, invisible to the buyer, will ultimately lead to a negative buying experience and the failure of any potentially successful online store.