The Secrets to Selling Luxury Goods

One of the hardest things to do in ecommerce is creating an online experience that truly showcases every aspect of a product. This is especially true in the world of luxury goods, where allowing customers to touch, feel and admire the craftsmanship of a product. And at the same time they are expecting an indulgent in-store experience which is tantamount to the story of the brand. Just the in-store experience can serve as the main selling point and create word of mouth like no other.  

Throughout his career at places like Brunello Cucinelli and Boggi Milano, Fedele Sforza has had to meet that challenge head-on and figure out a way to create a luxury ecommerce experience that matches and works in tandem with the luxury in-store experience. On this episode of Up Next in Commerce, Fedele tells us exactly how he’s been able to do just that, and he explains why ecommerce leaders have to be evangelists within a traditionally retail-based environment. Plus, he details how to use data and technology as a window into the needs of your different customers, which you can then leverage to create personalized shopping experiences across channels. Enjoy this episode!

Main Takeaways:

• Showcasing Luxury: The in-store experience is a much easier place to showcase luxury items and create a one-of-a-kind, high-end shopping experience. Online, there are fewer ways to showcase craftsmanship or cater to a consumer. But it’s not impossible, and it should be a priority to create a personalized and extravagant experience online that can match or work in tandem with what happens in-store.
• Friends, Not Enemies: When a company begins to prioritize and invest in ecommerce, often the retail side of the business sees that as a threat. An ecommerce leader’s job is to be an evangelist and show the ways that both retail and ecommerce can work together, share data, and create experiences that cater to customers in a more personalized way. If that collaboration happens, not only will customers have a better experience, but the business will see a boost on the bottom line because sales are being optimized across all channels.
• Curating Connections: Rather than making a list of channels in which you have to market, start to think about finding ways to form connections and create experiences with customers in the places where they want them. Not everyone is in the headspace to buy something when they are scrolling through Instagram, but they might be interested in purchasing something when they are at an event with friends. You have to find ways to connect with people in all places and in unique ways so that you are top of mind whenever they are actually ready to purchase.

For an in-depth look at this episode, check out the full transcript below. Quotes have been edited for clarity and length.

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