LuxGiftsnGoods.com
- Industry: Retail
How are you adapting to the shift toward online shopping? We have always been all online shopping, e-commerce all the time since our inception in 2016.
What strategies are you using to enhance the in-store experience? We have added an AI chat bot to answer questions in addition to a Frequently Asked Questions page. We also have a well developed blog that featurs many of our brands and suggestions for gifts to satisfy a variety of recipients.
How do you handle changing consumer demands? We have ventured away from traditional e-commerce adding many affiliate partners to grow our reach, have a greater support system and outsource much of the fulfillment and transactional matters to the original vendor.
What role does data play in your retail strategy? Data indicates where consumers are looking and buying, which can indicate to the retail owner what and how much to stock, and at times reveal emerging trends.
How do you manage supply chain challenges in retail? This is largely becoming a non-issue for us as we have transitioned to having many affiliate partners who handle all supply chain issues. We have only retained the best vendors who are the most reliable as we move forward.
What makes your brand stand out in a crowded market? We offer a unique collection of brands, gifts and goods, and a one-stop shop luxury lifestyle marketplace.
What trends do you see shaping the future of retail? Time will become more and more valuable. Cost of goods will increase due to ordinary inflation. Ease of transactions and the ability to simplify all in life will become more valued. So, convincing the consumer to spend those dollars with you is paramount.
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