CXG

Navigating the luxury retail landscape requires a deep understanding of customers' needs and expectations. We analyze customer behaviors, experience expectations, purchase dynamics, and relationships with luxury across key demographics. This targeted analysis identifies and bridges gaps in the customer journey, transforming insights into actionable strategies to enhance client engagement and loyalty. Get in touch with our CX Experts to start your project today. Visit https://lnkd.in/dr-JCGSp #cxg #cx #customerexperiencegroup #customerexperience #understandingcustomers #luxurycustomers #luxuryclients #luxury #luxurybrands

In Western cultures, good service entails responding to and meeting expectations promptly and efficiently. In contrast, Japanese Omotenashi stands out through its anticipatory, selfless, and subtle nature and its practice of small gestures throughout daily interactions that can add to something greater than the sum of its parts. It is essential to remember this as it reinforces the idea of Omotenashi’s uniqueness. Interested in reading more? Download the "Omotenashi for the Modern Age: Elevating Service in Japan and Taking the Concept Global" report by visiting: https://lnkd.in/d9S425-X #CXG #CX #Customerexperiencegroup #omotenashi #japan #thoughtleadership #hospitality #luxurybrands #luxury #industryreport

For the first half ended June 30, 2024, and despite a challenging macro context, Prada posted excellent results with a strong retail sales growth of +18% YoY at constant exchange rates and a net revenue increase of +17%. to €2.55 billion, largely driven by its retail network and beating consensus estimates. Retail sales for Q2 aligned with the half-year results at +18% YoY growth.   This outstanding growth was driven by all the regions, most of which experienced double-digit growth, and its brands, fueled by Miu Miu. The latter experienced retail sales growth of +93%, while Prada continued its more mature above-market sales trend with a +6% increase in sales, compared to the same period in 2023. Miu Miu’s commercial success was a result not only of outstanding creative prowess but also of successful activations, highly acclaimed fashion shows, as well as special projects like Miu Miu Upcycled and several collaborations. Regarding regions, APAC showed +12% growth for H1 (with an embedded slowdown in Q2 versus Q1), while Europe posted excellent +18% growth. The Americas experienced good sequential growth at +7%. The two standouts for H1 regionally were once again Japan at +55% growth and the Middle East region, which experienced an exceptionally robust +20% growth (all at constant exchange rates). Management re-iterated that in a challenging macro-economic environment, the Group continues to exercise the disciplined execution of its business and distribution strategy, as well as remaining agile and invested in capitalizing on the strength of its brands Prada and Miu Miu, in terms of product range, branding communication, and brand positioning. #CXG #CX #Customerexperiencegroup #customerexperience #industrynews #prada #miumiu #luxurybrands #luxury #financialresults

From enhancing retail experiences to strategic shifts in corporate leadership! This week, a renowned automotive brand creates an immersive pop-up in London. Meanwhile, a leading luxury group reports growth amidst challenging market conditions. In corporate moves, a beauty brand secures shareholder approval to go private, aiming for strategic repositioning. Additionally, an iconic luxury group engages in talks to take over a prestigious sports sponsorship, signaling a strategic brand alignment. Discover the latest news in the luxury landscape! Link in comments. 👇 #CXG #CX #customerexperiencegroup #customerexperience #lvmh #astonmartin #moncler #loccitane #luxury #luxurybrands #industrynews #luxurynews #businessnews

What's on Our Minds in the World of Luxury? A Salute to the Paris Olympics and LVMH: How Luxury and Sports Converge To Deliver A Winning Mix of Adrenaline and Glamour The intersection of luxury and sports has become a powerful force in contemporary culture. From Formula 1 to Wimbledon to the America’s Cup, high-end brands increasingly align themselves with athletic pursuits, creating synergistic moments that captivate audiences worldwide. This convergence is perfectly represented by the Paris Olympics, with LVMH, the luxury industry powerhouse, serving as the Creative Partner and Main Sponsor. Watch the video below and read the full article by visiting the link in comments! #CXG #Customerexperiencegroup #customerexperience #cx #parisolympics #olympics2024 #parisolympics2024 #LVMH #luxury #luxurybrands #sportsandluxury

Hermès Shows Exceptional Resilience with Positive Momentum in the First Half of 2024. Once again, Hermès showed robustness and resilience in its results for the first half of 2024, with a +15% increase in revenues at constant exchange rates (12% at current), amounting to revenues of €7.5 billion for H12024. All geographic regions, including Asia, posted double-digit growth against a very high comparison basis in the prior year. Asia ex-Japan recorded 10% growth, supported, among other things, by the opening of Mumbai’s Jio World Plaza store, the reopening of Lee Gardens in Hong Kong, and the Beijing SKP store. Japan once again recorded continued exceptional momentum with a +22% increase in revenues, underpinned by local clients. Despite the general pullback in luxury spending in the Americas, this region represented a robust growth driver for Hermès, with evidence of sustained momentum in the United States, resulting in +13% growth for the Americas. As has been the case historically for Hermès, sales in Europe were especially strong, driven by both loyal local customers and healthy tourist consumption. This translated into +18% growth for Europe, excluding France, and +15% growth in France. In terms of segments, despite a more challenging contextual framework, almost all of Hermès métiers exhibited robust growth, with the standouts being Leather Goods and Saddlery at +19% growth, supported by the expansion of manufacturing capabilities and strong demand. Ready-To-Wear posted an impressive +15% growth, while the “other “sector, which includes Jewelry and Home, also did exceptionally well at +19% growth. Silk and Textiles remained relatively flat at +1% growth, while the Perfume and Beauty sector continued its development with +5% growth and the Watches segment was basically flat at constant exchange rates. In a nutshell, these remarkable results in the face of a highly challenging macroeconomic context and significant headwinds affecting the luxury industry are a testament to the brand’s creativity in its collections, its strong craftsmanship, the continuing loyalty of clients, the brand's enduring global appeal, and its extremely strong distribution model. In the medium term, the company maintains its optimistic outlook and ambitious revenue growth goals despite the economic and geopolitical complexities. #CXG #CX #customerexperiencegroup #customerexperience #luxurybrands #luxury #hermes #businessresults #industrynews #financialresults

Omotenashi for the Modern Age: Elevating Service in Japan and Taking the Concept Global - Report now available! Japan’s culture is marked by an exciting duality: tradition and heritage, on the one hand, and a penchant for modernism and novelty, on the other. Despite its modern leanings, Japan is a collectivist society in which tradition and ceremony are still highly esteemed. This is a fact that most travelers readily associate with Japan. As such, the tradition of outstanding customer service in Japan is synonymous with the concept of Omotenashi. Our report discusses Omotenashi's role in today's tech-driven, fast-paced retail environment and its potential to become a competitive advantage based on its impeccable, anticipatory service and ability to exceed expectations in sales interactions. Request and download the report by visiting: https://lnkd.in/deqdQkxZ #CXG #CX #Customerexperiencegroup #customerexperience #thoughtleadership #omotenashi #japanesehospitality #Japan #industryreport #cxgreport #industryreport

In this edition of #CXGPerspectives, we're giving an exclusive first look into our upcoming report "Omotenashi for the Modern Age: Elevating Service in Japan and Taking the Concept Global". Stay tuned for the upcoming report available for download tomorrow! #CXG #CX #Customerexperiencegroup #customerexperience #omotenashi #japanesehospitality #Japan #industryreport #thoughtleadership

Truly honored and excited to be one of the speakers at Luxury Brands 2024 on September 19-20, 2024! Organized by Veracity Communications LLC, the two-day event will take place at Voco Dubai and will be a great opportunity to interact, share ideas, and network with other industry professionals. During this two-day event, I will be sharing the stage with several distinguished individuals in the industry, including ANNA KHYZHNA of Dolce&Gabbana UAE, Antonio Achille of Natuzzi Group, and Bushra Alolayan, Ph.D of Lorindale, to name a few. I will be sharing insights on brands that are cultivating value through understated elegance and superior quality, offering exclusive, heritage-based experiences. These brands forge emotional connections through cherished memories and stories while celebrating timeless classics designed to be passed down to future generations. With Saudi Arabia’s steadily increasing luxury good sales and UAE considered as a hub and destination for global travellers, Luxury Brands 2024 will be attended by those who would like to stay at the forefront of all things fashion, technology and sustainability within luxury brands. I look forward to speaking and participating in this two-day event in September! #CXG #LuxuryBrand2024 #Veracity

Saks has been trying to buy struggling Dallas-based Neiman Marcus for years, and merger talks were entertained many times, only to be dropped. On July 4th, the deal finally got sealed in a transaction valued at $2.65 billion. Before this, both department store chains had been affected by reduced luxury spending and consumers who switched to shopping luxury brands through directly owned flagships or online, especially among younger consumers. The result of this merger is the creation of a luxury retailer dynamo with reach across the USA and potential global impact. Read the full insight by visiting link in comments! #CXG #CX #Customerexperiencegroup #customerexperience #neimanmarcus #saksfifthavenue #saksnewyork #saks #departmentstores #luxury #luxurybrands #mergersandacquisitions #merger #industrynews #businessnews