Welcome!

Microsoft Cloud Authors: Liz McMillan, Pat Romanski, John Basso, Glenn Rossman, Elizabeth White

News Feed Item

More Luxury Shoppers Use Mobile, But Prove Harder to Please Overall, According to ForeSee Study

Tiffany & Co. and Coach lead the Luxury E-Retail Satisfaction Index

ANN ARBOR, Mich., Jan. 17, 2013 /PRNewswire/ -- Luxury shoppers are more likely to use mobile channels when shopping but are slightly less satisfied with e-commerce overall, according to the Luxury E-Retail Satisfaction Index released today by customer experience analytics firm ForeSee. Luxury brands have an aggregate score of 77 on the study's 100-point scale, falling just short of the average score of the top 100 online retailers overall (78).

(Logo: http://photos.prnewswire.com/prnh/20110819/DE54780LOGO)

Coach and Tiffany & Co. lead the Index, tied with 80, which is generally considered the threshold for excellence. Saks and Nordstrom tie for second at 79, still well above the Luxury Index aggregate of 77. Brooks Brothers (76) is at the bottom of the measured luxury brands, but still close to the aggregate. Subscription and flash sale sites Rue La La (73) and Gilt (72) round out the bottom of the Index, due to the registration or subscriptions required to see the content of the site. A survey given solely to subscribers of these sites would likely result in a slightly higher satisfaction score for websites with that business model.

Meanwhile, non-luxury retailer Amazon registered a score of 88 in a similar study, meaning even the best luxury sites are still not measuring up to the very best online experiences. Since almost everyone shops at Amazon, customer expectations are being set at a level not yet achieved by any of these luxury e-retailers.

Shopper Satisfaction with Luxury Brands

Luxury Brands

Score

Luxury Subscription/Flash Sales Sites

Score

Tiffany & Co.

80

net-a-porter.com

78

Coach

80

RueLaLa.com

73

Saks Fifth Avenue

79

Gilt.com

72

Nordstrom

79



Hugo Boss

78



Tory Burch

78



Burberry

78



Ralph Lauren

77



Neiman Marcus

77



Brooks Brothers

76



"Luxury retailers have some catching up to do with mainstream retailers in terms of measuring the customer experience across all channels and using that data and analysis to impact strategic, tactical, and operational decision making at the highest level," said Larry Freed, author of the study and president and CEO of ForeSee. "While there are a few exceptions, the customer experience is still playing a very tactical role in many of these companies, and there is an opportunity for these analytics to be valuable and actionable at so many levels."

According to the survey of more than 3,500 luxury shoppers, more luxury brand shoppers (36%) are using mobile than non-luxury brand shoppers (25%) to research products, compare products or prices, purchase product, or use a company's mobile app.

Mobile is a huge area of opportunity of any retailer, but particularly for a luxury brand," said Eric Feinberg, Senior Director of Mobile, Media & Entertainment at ForeSee. "Our study shows that luxury brand shoppers are already adopting the mobile channel faster than non-luxury brand shoppers. It's now up to those retailers to deliver what luxury customers want from mobile in order to keep them coming back to the brand and to influence purchases across all channels." 

When it comes to purchase decisions, 41% of visitors to a site indicated that the price of a product was too high, but the study's methodology shows that merchandise and site functionality- not price- are the highest priorities for improvement with luxury brands. While priorities vary by brand, 71% of sites will increase customer satisfaction by improving merchandise, and 43% of site will see more return on investment from improving site functionality.

"You can't rely just on customer feedback when making strategic decisions," added Freed. "Customers always complain about price; they always want a better deal, even at luxury retailers. If you're using a methodology that can actually calculate the impacts of different elements—like price, merchandise, or functionality—on satisfaction, then you can begin to make effective decisions that are proactive and not just reactive."

The full report can be downloaded for free at www.foresee.com

About the ForeSee Results E-Retail Satisfaction Index: Luxury Brands
The ForeSee Luxury E-Retail Index is based more than 3,500 responses from visitors to luxury brands websites with the highest revenue. Survey responses were collected via research panel during November and December of 2012. ForeSee's technology is based on a methodology that has been shown to have a direct link with stock prices and other measures of financial performance.

About ForeSee
As a pioneer in customer experience analytics, ForeSee continuously measures satisfaction across customer touch points and delivers critical insights on where to prioritize improvements for maximum impact. Because ForeSee's superior technology and proven methodology connect the customer experience to the bottom line, executives and managers are able to drive future success by confidently optimizing the efforts that will achieve business and brand objectives. The result is better business for companies and a better experience for consumers. Visit www.foresee.com for customer experience solutions and original research.

FOR MORE INFORMATION
Chaat Butsunturn, [email protected]
415-391-7900 x114
Or Amanda Piasecki, [email protected]
202-535-7800 x114

SOURCE ForeSee

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Yahoo! Inc. (Nasdaq: YHOO) have entered into a definitive agreement under which Verizon will acquire Yahoo's operating business for approximately $4.83 billion in cash, subject to customary closing adjustments. Yahoo informs, connects and entertains a global audience of more than 1 billion monthly active users** -- including 600 million monthly active mobile users*** through its search, communications and digital content products. Yahoo also co...
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...