In their latest white paper titled “After COVID-19: a fresh look at the Luxury industry,” Analytic Partners, a leading expert in Marketing Analytics, delves into the five key drivers of success for luxury brands in the future. To gain further insights, we had the opportunity to interview Virginie Lannevère, Senior Director France at Analytic Partners.
With years of experience in providing support to luxury players, Analytic Partners distinguishes itself through its global expertise. Their extensive track record of working on multi-market engagements, particularly in China, which has become a prominent market for luxury, sets them apart in the industry.
What sets Analytic Partners apart is their holistic approach. They consider all factors that impact sales performance, both internal and external. This includes examining internal factors such as marketing investments and distribution networks, as well as external and macroeconomic factors like tourist mobility and consumer confidence. By combining these different levers, Analytic Partners can identify and interpret various signals, whether they are strong or weak, and provide comprehensive insights.
Analytic Partners’ modeling platform is a powerful tool that enables them to measure the impact and effectiveness of media investments with great precision. They are able to assess the relative impacts of influencers compared to brand ambassadors and evaluate the performance of flagship stores. This understanding of the synergies between brands, products, media channels, and distribution channels is perfectly suited to the intricate portfolios of luxury houses.
When asked why they dedicated their latest white paper to the luxury sector, Virginie Lannevère explained that, as a newcomer to the French market for performance measurement and optimization, it was essential for Analytic Partners to invest in this key sector both locally and globally. Their approach allows them to address crucial strategic questions for luxury players, such as optimizing marketing investments by region, country, brand, and media channel. Additionally, they assist in defining specific approaches for managing e-commerce sales versus brick-and-mortar stores and understanding the impact of marketing activations on different customer segments.
The study also reveals significant trends in the luxury industry. One of the most critical trends is the need to understand the behavior of target segments to drive innovations, investment levels, and activations. The emergence of the Y and Z generations as primary luxury buyers has led to a shift in distribution and communication strategies. Brands are now required to move from a product-centered model to a more customer-focused approach, catering to the personalized experiences desired by these consumers. The importance of omnichannel strategies has also become paramount to ensure a seamless and relevant customer experience across all sales and communication channels, both locally and globally. Furthermore, advancements in data science, particularly in machine learning, provide valuable tools for understanding and managing the complex challenges faced by luxury brands.
Importantly, the study emphasizes the need for major luxury brands to incorporate environmental and social commitments into their growth strategies beyond mere communication. Analytic Partners commends luxury houses that have already taken steps to integrate these commitments into their operations but believes there is still much more to be done in this regard.
Overall, Analytic Partners’ white paper sheds light on the key drivers of success for luxury brands in the post-COVID-19 era. Their comprehensive approach, global expertise, and data-driven insights position them as a valuable resource for luxury players seeking to navigate the ever-evolving landscape of the industry.
To read Analytic Partners’ white paper on the luxury industry, click here.
For more information on Analytic Partners and their services, visit their website here.
