We are living in the dark phase, and nobody knows for sure when will this gloomy atmosphere pass. It is evident that the fashion industry had to suffer the most, but the show must go on. Though other sectors in the industry have repurposed their line of business, the luxury market has to navigate its way for its better future. The essential commodity of this domain, handbags, has the potential to lead the way and shape up sales. The online women handbag design software offers customization solutions to bag selling companies that will allow them to market their brand even during the crisis.
In this blog, we will discuss the ways how the luxury-goods sector can work its way out of this crisis, shape the future, and market its brands.
How Luxury Brands Can Succeed in Navigating their ways to Gain Revenues?
Many luxury executives have demonstrated caring leadership during this crisis. They are prioritizing the safety of employees and customers and proactively communicating with all stakeholders about their new health and safety protocols, crisis-response activities. At the same time, they must take quick action to ensure that their businesses surpass the crisis.
Here are some action plans that company leaders should consider taking:
- Enhance Digital Engagement
Since the stores remain closed in many parts of the world, adopting e-commerce channels have become inevitable. It is a crucial step for keeping sales up, communicating with customers, and forging a sense of community around a brand. Accelerating digital investments and shifting media spend to online channels, with a focus on customer activation rather than brand building. Aside from enhancing your websites, also consider partnerships with reputable e-retailers. Digital engagement could help not only boost online sales but also entice consumers to visit stores once they reopen.
- Entice Customers with DIY
As Americans continue to hunker down to help stop the spread of the coronavirus, we are all looking for ways to stay connected and sometimes distracted. To avoid scary coronavirus news, you can offer them a chance to spend time on creative activity, such as designing bags. Brands, like The Sak and STAUD as asking its customers to entirely create their crochet bag from the comfort of their couch without ever picking up yarn or a hook.
Using DIY-inspired technology, users can customize the brand’s most iconic silhouette, the 120 Hobo, by selecting from various patterns and colors and fonts for personalized messaging. The handbag design software helps brands to provide customization options to buyers through mobile responsive layouts. Your customers can design their products from the comfort of home.
Vintage-inspired lifestyle brand, STAUD, has launched a new product feature and charitable initiative on their site, inviting customers to customize select classic bag styles with a hand-painted portrait of their favorite pet.
- Opportunity for Rare-Gems
Over the past decade, European companies dominated the luxury market, and in recent years the US fashion groups and Middle Eastern investors eagerly snapped up attractive acquisition targets. According to a report published by McKinsey, the outbreak of pandemic changed the landscape because some of these acquirers could find that they have neither the core competencies nor the patience to nurture these high-potential brands. Therefore, they might be willing to looking for partnerships with start-ups, small-sized companies to put them back on the market. These acquisitions that were once forbiddingly expensive could become viable in the post-crisis period. Such developments could result in further industry consolidation or even the formation of new luxury conglomerates.
- Spur Personalization Experiences
Customers crave for easy and friendly user interfaces, and the luxury retailers should very carefully craft an atmosphere that would make buyers think that they are being heard. You can offer tools to them that would guide them when stuck. Recently, the luxury handbag retailer, Creagh, found that tweaking how it presented the live chat button to shoppers increased the tool’s use. Sarah Creagh, CEO and founder of Creagh, decided to be on the other side of the chat and wrote a message, “Hi, I’m the founder of Creagh. Let me know of any questions.” As per Creagh, shoppers instantly started using it, which resulted in increased sales.
The intention behind writing this blog was to instill the knowledge about rising challenges the luxury market will face. Still, we are confident that with proactive approaches and careful planning, the luxury market will emerge stronger than ever before. If you are operating in the handbag sector and still doubtful how will your organization navigate the challenges of today, then you needn’t worry. The bag designing software by iDesigniBuy with its relevant and latest technological solutions of customization will help you to succeed in the rough days.
Collaborate with us today.