Do the Math, Part 1

Market researcher Pamela Danziger continues to call attention to the seismic shifts occurring in luxury consumers’ buying habits. Shoppers’ needs and wants are in transition as old-line luxuries like jewelry give way to new, experiential luxuries like ecotourism and day spas. Starbucks, selling $3.95 “luxuries,” has built a huge business by promoting itself as an inviting third place—after home and office—for its customers. Is your store a destination or just another place to buy nice jewelry? Danziger’s Let Them Eat Cake: Marketing Luxury to the Masses—As Well as the Classes provides background on consumers’ desire for experiential marketing. (See “Icing on the Cake,” JCK, June 2006, p. 332.) One key area to change, in terms of your customers’ in-store experience, is the sales training and development of your newer counter staff. For sales associates who ha

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