SWIFTERM AI Hyper-personalisation Software
Guerlian, Louis Vuitton
Luxury marketing – getting it right
In 2018 the luxury market was assessed at €920 billion, of which €590 billion included experiential luxury – dining, travel, F&B, design furniture, cars, boats and smartphones and tablets, and €330 billion was in personal luxury goods. A significant increase is foreseen, as overall luxury is said to rise up to €1.3 trillion by 2025.
Nowadays Millennials account for 32% of total luxury spending; however, in the next 5 years, they are expected to represent 50% of the total market.
Generation Z, on the other hand, accounts for only 4% of sales, but the figures are ascending. They should not be underestimated though, as their patterns and interests in technology are influencing those around them and are contributing to the development of a new landscape for the luxury industry.
The luxury market is crying for new methodology and tools
Company details
- Incorporated:
- 08 August 2014
- Industry:
- Retail and luxury
We have been reviewing and running trials with Swift ERM for our customers and are very impressed with the results it achieves from the get-go. We are seeing 10% revenue increases, fully automated. SWIFT is a relatively young player on the market but I believe they have something highly innovative here, triggering the right impulse purchases from customers by predicting their needs based on their past buying and browsing habits. Together with their rock-solid results or no-payment - policy, it's a no-brainer. There isn't a product out there at this moment in time that I could more highly recommend for any e-commerce business.Roy Van Eijsselsteijn CEO Interactivated