Click here to close now.




















Welcome!

Microsoft Cloud Authors: Eric Aarrestad, Greg O'Connor, Liz McMillan, Aleksei Gavrilenko, 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
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect their organization.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Akana has released Envision, an enhanced API analytics platform that helps enterprises mine critical insights across their digital eco-systems, understand their customers and partners and offer value-added personalized services. “In today’s digital economy, data-driven insights are proving to be a key differentiator for businesses. Understanding the data that is being tunneled through their APIs and how it can be used to optimize their business and operations is of paramount importance,” said Alistair Farquharson, CTO of Akana.
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Payment...
"Optimal Design is a technology integration and product development firm that specializes in connecting devices to the cloud," stated Joe Wascow, Co-Founder & CMO of Optimal Design, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unp...
Electric Cloud and Arynga have announced a product integration partnership that will bring Continuous Delivery solutions to the automotive Internet-of-Things (IoT) market. The joint solution will help automotive manufacturers, OEMs and system integrators adopt DevOps automation and Continuous Delivery practices that reduce software build and release cycle times within the complex and specific parameters of embedded and IoT software systems.
"ciqada is a combined platform of hardware modules and server products that lets people take their existing devices or new devices and lets them be accessible over the Internet for their users," noted Geoff Engelstein of ciqada, a division of Mars International, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.