A report by Bain & Co. estimates that millennials and GenZers will account for 25% of the global personal good luxury market by 2025.
This piece states that direct-to-consumer brands can leverage experiential events to get new customers on-board as well as retain the old ones. With direct access to customers and highly personalised data, DTC brands can use retail stores to offer a multidimensional and multisensory experience to offline customers.
The author suggests that retailers can engage with customers in a personalised and creative way to foster a deeper customer-brand relationship. Curated and tailored customer service along with value-added after-sales service, can further strengthen a brand’s relationship with its consumers.
While e-commerce has little scope for post-sale value, DTC brands can continue to create engagement through custom tutorials and exclusive invites to experiential events.
[4 minute read]