Harnessing Customer Data to Unlock the Luxury Market

Get Personal
With so many technology options available, it's important to keep a proper perspective. In the luxury market, high tech isn't a substitute for the high-touch experience of one-on-one interactions. Technology is a means to an end, not an end in itself. Milton Pedraza, CEO of the Luxury Institute, believes that retailers will focus on building better relationships across all touchpoints – brick-and-mortar, online and mobile. “In 2015, we're extremely optimistic that the economic conditions will force brands to get moving on building better client relationships rooted in personal interaction rather than impersonal algorithms,” Pedraza predicts.