INDUSTRY SNAPSHOT
- Highly competitive luxury goods industry and a challenge to attract new customers
- Challenge to increase engagement with consumers to boost customer lifetime value
CLIENT CHALLENGES
In the last few years, luxury retailers have struggled with declining sales. Innovative brands like Stitch Fix and Rent the Runway have changed consumer purchase behaviors. But also, consumer preferences are changing so fast that these brands are struggling to keep up.
This luxury retailer wanted to discover and gain a deeper understanding of their top-performing customers. These efforts were aimed at helping them develop a segmentation strategy to foster better engagement.
- Find top-performing customers and gain a deeper understanding of this segment
- Develop a segmentation strategy to boost customer lifetime value for these customers
SOLUTION
With the Resonate platform, this luxury retailer was able to:
- Discover potential consumer segments
- Quickly develop and deploy a new segmentation strategy
- Change their media and messaging strategy
- Adjust marketing spend to optimize marketing performance
RESULTS
80% Increase in website visitors
40% Increase in purchase conversions
