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The cost and complexity of consumer maintenance

The marketing battle cry last year for most luxury brands revolved around their CRM system and the need to find new customers. It was about expanding the customer base and knowing who the purchasers were. The more cynical of us might have said that these luxury brands had been making big money from the Chinese consumer for many years, so they ought to know who their customers were by now.

The fact of the matter was and still is that most brands were just taking money from consumers desperate to spend without actually finding out who they were and more importantly, their personal preferences. One can only surmise that nobody thought that the gold rush would ever end or that one-day the Chinese luxury consumer would mature and become particular about how and where to spent their cash…

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