Luxury Brands Don’t Really Understand Their Customers

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Businesses need to understand their customers in order to succeed. They need to know who their customers are, what kinds of products they appreciate, what they appreciate in a shopping experience, and more. But according to a recent study, there’s one type of business that isn’t really doing this effectively.

A study conducted by Epsilon concluded that luxury brands lose up to 50 percent of their top clientele annually due to misidentified demographic and economic information, as well as failure to create a personalized shopping experience.

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from Blogger