Why Luxury Fashion Retailers Should Embrace Technology

why luxury fashion retailers should embrace technology: #beverlyhills #beverlyhillsmagazine #luxury fashion #fashion #fashionretailers #digitaltechnology #luxurygoods #digitalmarketing #fashionshopping
why luxury fashion retailers should embrace technology: #beverlyhills #beverlyhillsmagazine #luxury fashion #fashion #fashionretailers #digitaltechnology #luxurygoods #digitalmarketing #fashionshopping

Today, luxury fashion retailers are characterized by how they meet their consumer standards. These trends are fed by technologies that provide high bespoke experiences. The digital revolution has greatly influenced the luxury fashion industry. However, how are luxury brands able to implement these technologies without having to go against their own traditional values that actually make them stand out? (Image Credits: Artem Beliaikin/Pexels)

Innovative Technologies In-Store 

The implementation of innovative technologies has greatly changed the game of customers’ experience in fashion retail stores. The popularity of online shopping has had a negative impact on physical stores. However, luxury fashion retailers should understand the benefits that come with integrating in-store technologies that enhance their customers’ shopping experience. For instance, customers can simply pick up items without having to check out on Amazon Go. They use artificial intelligence and cameras that charge the customer automatically.

Digital Strategies

Most luxury fashion retailers have a marketing strategy that focuses on offering an outstanding shopping experience coupled with unique customer service. For instance, a customer can walk into a store, consult an expert, have a glass of wine, and get their purchase wrapped elegantly. However, they struggle to find a balance between accessibility and exclusivity. Modern customers do not have similar expectations. They are tech-savvy and want to be able to access a product within a few clicks. This means that luxury retailers should reconsider their marketing strategy and implement digital marketing innovations that offer amazing experiences to their customers.

Increase in Online Sales of Luxury Goods

Luxury fashion retailers are a little bit behind in technology uptake compared to other industries. However, the sale of online luxury goods such as footwear, perfumes, watches, and jewelry has been on the increase in the last couple of years. In addition, these online sales are expected to triple in the next five years. This tells you that luxury customers are now embracing technology and ready to shop online compared to walking into a physical store.

Tactile Shopping Experience

Luxury fashion retailers have a rich heritage, with many of the oldest companies in the world being luxury brands named after their original founders, with a good percentage embodying Italian or French roots. However, this heritage can sometimes make it difficult for luxury brands to implement modern technologies, as they may feel that it goes against their traditional values. Nevertheless, integrating technology with their values is necessary for luxury fashion retailers to meet modern customers’ requirements while preserving their values. One way that luxury fashion retailers can do this is by incorporating “techwear” into their product lines. Techwear is a unique combination of comfort and functionality, with clothing that incorporates technology into its design. By embracing techwear, luxury fashion retailers can meet the needs of modern customers while staying true to their values and heritage.

Use of Data

Technology allows companies to collect their customer data and information. Also, there are many devices that collect such data and send it to a centralized server. This data can be analyzed and used to predict the customer’s preferences and purchasing patterns. If luxury fashion retailers implement these technologies, they will be able to know what their customers want, and even offer customized sales and experiences to their customers. This will in no doubt increase their sales and offer unique customer service.

Technology has simplified how we do things today. A person wants to be able to check what a luxury fashion retailer offers, place an order, make a payment, and get the order delivered, all from the comfort of their homes. This makes it vital for luxury fashion retailers to embrace technology for their businesses.

Amani Mutuma
Amani Mutuma is a professional content writer who helps small businesses & bloggers make a positive impact in the world. He’s passionate about personal development and aspires to help people grow through his writing. Connect with him on Instagram or Twitter.
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