We now know that luxury brands have perceived the need of going digital to thrive in the race of delivering exceptional and unprecedented customer experiences to their customers. However, luxury industry has always relied on personalized offline store experiences and therefore, providing individualized online experience can be a huge challenge for these brands.
Data driven personalization is one of the most efficient option for luxury
brands to overcome the aforementioned challenge. In this approach, any multi
brand retailer can provide online suggestions and customizations based on past
purchasing behaviour of its customer. Online retailers can suggest latest
products launched by the brands used by the customer in previous purchases and
can provide exciting offers at the time of payment.Woopra, a real-time customer analytics service, provides an example of Stitchfix in its
is a personal styling service that provides personalized clothing and
accessories selections to men and women by analysing their past behaviours. The secret ingredient of this company’s high valuation is its engine which is powered by past customer data and is developed by Eric Colson, former VP of data science at Netflix.