Brand Loyalty Rewards For The Ultra-Luxury Shopper

When it comes to luxury store retailing, properly rewarding a customer who spends $200,000 a year could be as easy as a walk in the park, or Park Avenue. But recognizing those dedicated shoppers who spend upwards of $1 million a year takes more than diamond points – this kind of shopper requires sincere eloquence.
It’s a high-class, and at times bewitching, problem.

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The detail in retail

Between the dozen or so big chains including Pantaloon and Reliance Retail and all outlets that do a VAT billing, organised retail is estimated to be around $22 billion, a figure that’s around 5-6% of the total retail market of close to $400 billion in the country today. In August 2008, McKinsey had estimated that by 2015, India would become a $450 billion retail market, comparable in size to Italy ($462 billion). The total retail market is estimated to be growing at 7-8% and the share of organised retail is projected to touch 15% by 2015, from 2% in 2006 when the market was estimated at $250 billion.

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Study: 82% Of U.S. Consumers Stop Using Brands After Bad Customer Service

The Customer Experience Impact 2010 report reveals that 82% of consumers in the U.S. said they’ve stopped doing business with a company due to a poor customer service experience. Of these, 73% cited rude staff as the primary pain point, and 55% said a company’s failure to resolve their problems in a timely manner drove them away.

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