News By/Courtesy: Aakash Raj | 15 Jan 2021 16:23pm IST

HIGHLIGHTS

  • Boost in online shopping
  • Avi and Co. success
  • brand positioning

For most firms, especially the luxury retail market, the year 2020 was a tough one. Nevertheless, digital transformation, responding to the demands of social distancing and safety requirements, helped brands navigate the public health emergency and recession. When more audiences were present online than ever before, companies who made the digital transition and played with social media after the recession experienced huge growth in their scope and interaction. The coronavirus pandemic has reignited the controversy over either digitizing or perishing luxury products. Here's how one of the leading luxury watch boutiques located in Manhattan and New York, Avi and Co., leveraged digitalization and social commerce to succeed in the face of a pandemic as global takes center stage. Since having a physical store that draws big celebrities and other wealthy individuals, most premium retail brands relax, but Avi and Co. went a little further and made it easy for their high-end clientele to browse for luxury watches such as Richard Mille, Patek Philippe, Aude-mars Piguet, and Rolex online. It ensured that although shops were closed due to the pandemic, their practices would continue as before and consumers from around the globe could quickly buy online on their website. Avi & Co. are known to potential buyers for their special invite-only parties where they display their amazing range of premium watches. With the pandemic and social distancing rules, however, they had no choice but to reinvent exclusive online live streams where prospective buyers could see all the luxury watches available and place orders. It introduced many new buyers as the digital medium widened its scope, as consumers learned they could display the exclusive watches in the live streams or position orders from anywhere in the world and have their purchases shipped at their doorstep. Avi and Co. used a live chat option on their website to try to mimic what was available in their physical shop, staffed by watch specialists during working hours to ensure that consumers obtain immediate answers to their questions. The business opened telephone lines to attend to their wealthy client base directly and extended store tour bookings. With its "we sell investments" message, Avi and Co. made its brand positioning simpler and more appropriate. The business has placed the buying of a luxury watch as a genuine high-value investment item that can be handed on for decades as a legacy. Therefore, the sentimental connection of luxury craftsmanship is introduced. It's agility and adaptability that sails a brand out of turbulent seas during difficult times. In addition to representing customer-centricity and following a strong brand correspondence, using social media and providing a digital storefront are things that luxury retail players would have to remember to address the adversities brought about by COVID-19. 

 

This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, Or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being.

Section Editor: Pushpit Singh | 15 Jan 2021 18:47pm IST


Tags : #Digitalisation #AviAndCo

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