Click here to close now.




















Welcome!

Microsoft Cloud Authors: Elizabeth White, Adine Deford, the Editor, Michael Krems, Xenia von Wedel

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
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
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.
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater.
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, 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. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
SYS-CON Events announced today that IceWarp 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. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of IoT applications and projects. Business operations, IT, and data scientists need advanced analytics t...
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
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...
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...