Although global luxury markets are growing steadily, luxury providers risk lagging behind the markets they are meant to serve. They must adapt to new levels of market complexity, accommodate new kinds of purchasing behaviors, push into new geographies and cities, evaluate different business models, and do more with digital technology.
Consumers say they can imagine making nearly 75 percent of their purchases online. To turn that vision into reality, retailers, carriers, and others will need to meet those buyers’ exacting expectations.
Through deeper collaboration with their retail trading partners, U.S. consumer-packaged-goods manufacturers could overcome recent pressures and unlock more than $20 billion of additional overall value.