Pareto Principle states that a mere 20% of your current customer base is expected to contribute 80% of your company's profits!
Selling luxury is about exceeding expectations, delighting and surprising. However, the ever-evolving economic landscape presents us with daily challenges. To navigate these challenges effectively, managers in the industry must possess the readiness to confront and anticipate them in a professional, contemporary, and proactive manner.
Art of Selling Luxury | Evolution of Luxury | Consumer Behaviour & Culture | Vocabulary of Luxury | Engagement Strategy: HNIs and UHNIs Edition | Communication Design | Styling, Grooming & Body Language | Leadership Training | Brand Experience & Engagement | Customer Grievance Management | Recruitment
Recent customer service statistics by True list reveal that an astonishing 86% of customers are willing to invest more in exchange for superior service.
In fact, these findings indicate that clients are prepared to pay a premium of 13% to 18% above the regular price to indulge themselves in a truly luxurious customer service experience.
Thus, it is evident from customer retention trends that the significance of customer experience is steadily surpassing that of price and product, becoming the primary distinguishing factor for brands.
The sale of luxury products or services distinguishes itself from other sectors. It revolves around generating profits by elevating the overall experience, comprehending customers on a deeper level, and evoking their desires beyond mere necessities.
In the realm of luxury, customers are increasingly well-informed, presenting new challenges for those responsible for delivering exceptional service. It is of utmost importance to seize every opportunity and provide a remarkable journey for the customer.
Often, individuals involved in selling luxury goods or services do not personally experience the luxury they offer. Consequently, comprehending the expectations and motivational factors that drive luxury customers to purchase can prove challenging.
In today's landscape, a discerning approach to products and services, flawless adherence to standards, and the cultivation of excellent customer relationships serve as the cornerstone for driving sales and enhancing the profitability of a luxury enterprise.
Our founder, Mr Harsh Mann, personally oversees the luxury training and workshops provided to managers at all levels of a luxury enterprise. The HMLC Art of Selling Luxury sessions aim to impart comprehensive knowledge and understanding of the luxury domain. Our meticulously crafted modules and courses follow a well-structured format for a seamless learning experience.
