THEY CALL IT RETAIL THERAPY for a reason, it releases happy hormones. Regardless of your station in life, when you buy that holiday, or a piece of jewellery you've always wanted, you feel on top of the world. And, this is precisely what makes the luxury sector tick. This sector has successfully created desire and aspiration for its products. It is interesting how you feel you need that scented candle, or you must have the impossibly expensive sneakers. The most successful luxury brands always evoke the 'I must have this' feeling. And, the new brands entering the sector know that once they achieve this, they are golden.
Craftsmanship, innovation and exclusivity define the success of these products, but so do, sustainability, and customer experience. The last few years have seen tech take a central role in helping luxury brands hyper-personalise their offerings and deliver the best experience. For instance, think of a beauty brand that offers digital consultation for your skin and based on the results their experts create the perfect moisturiser for you. Or the concierge service that knows the colour and variety of long stem roses your wife likes. In this day and age, where the consumer is a digital native and connected via multiple touchpoints, for brands to succeed, hyperpersonalisation is key.
When Tech Stepped In
هذه القصة مأخوذة من طبعة November 02, 2024 من BW Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة November 02, 2024 من BW Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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The Bitter After-Taste
YES, THE DEBATE over the three-tiered tax structure for popcorn by the Goods and Services Tax (GST) Council has reached a crescendo nationwide, making Union finance minister Nirmala Sitharaman the brunt of much sarcasm.
A Popcorn Tax Paradox
POPCORN A SIMPLE, fluffy snack that often enhances the joys of movie nights - is now at the centre of a popcorn-tax paradox that is almost as entertaining as the blockbuster through which you were munching it.
SINGH WAS KING OF MANY HEARTS IN INDIA
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Anil K. Khandelwal is a transformational leader, who invites readers to rethink leadership as a journey rather than a destination. In The Gym of Leadership, he emphasises that helmsmanship is not a badge of authority but a commitment to creating a positive impact, says Srinath Sridharan
AN INDUSTR BENCHMAR
The MacBook Pro M4 doesn't just set the bar for laptops-it becomes the bar. With unmatched performance, breath-taking design and incredible endurance, Apple's latest offering redefines what a laptop can achieve, says Sahil Mohan Gupta
The drip of good health
IV therapy seems to be a popular procedure with people in pursuit of good health and glowing skin. We spoke to medical experts about aspects to keep in mind before walking into a wellness centre to get that drip.
"MACARONS FOR THE MASSES"
CHANDNI NATH ISRANI, the driving force behind Ladurée's India expansion, redefines luxury in the F&B sector. With four flourishing Ladurée outlets established since 2021, Israni is making iconic French pastries and delicacies accessible to the Indian market. BW Businessworld sits down with the visionary entrepreneur to discuss her journey in building the luxury brand and her strategy for democratising gourmet experiences
NAVIGATING THE PATH TO PROFITABILITY: A STARTUP'S BALANCING ACT
WHEN EVALUATING startup profitability, it’s crucial to break it down into two main components: unit economics and fixed costs. Unit economics refers to the profitability of delivering each singular order, which involves analysing transaction margins against costs incurred, such as delivery and payment gateway fees. This assessment helps gauge whether a business model is sustainable at a micro level.
THE HOLY GRAIL OF PROFITABILITY
Profitability for startups is elusive, often overshadowed by growth and investor expectations. Achieving profitability requires a delicate balance between revenue generation and cost management, with factors like market dynamics and competition playing significant roles
