In one of our newest episodes of the EGN podcast, Maria von Scheel-Plessen, a Senior Marketing Executive, renowned for her expertise in luxury brands, talked to our host Efe von Thenen about the evolution of retail. Our guest highlighted the significant shift in consumer behavior. What trends are visible now? Read our sum up below to find out!
In the interview Maria von Scheel-Plessen shared with us that the traditional view of e-commerce as an extension of offline retail has flipped. Today, many retail stores function as extensions of online experiences. Consumers increasingly begin their shopping journeys online, where they research and engage with products, and then seek out physical stores to interact with high-priced items before making a purchase. This change underscores the importance of integrating online and offline channels to create seamless customer experiences.
Personalization on top
One of the key themes that our guest discussed is the rising demand for personalized, one-to-one experiences. She emphasized that brands should move away from seeing their customers as mere clients and instead focus on building communities. This community-centric approach helps foster strong brand loyalty and deeper engagement. Personalization, powered by AI, plays a crucial role here. By leveraging data, brands can offer tailored recommendations that resonate with individual preferences without overwhelming the customer.
Immersive world of luxury brands
During the talk we also discussed the topic of the evolving role of physical retail stores, especially in the luxury segment. While traditional stores were primarily transactional, luxury brands now use their retail spaces to create immersive brand experiences. These stores are often located in prime areas and serve as event spaces or showcase unique elements like artwork, enhancing the overall brand narrative. For example, some luxury stores have exclusive apartments for top clients, providing a 360-degree brand experience.
There is no one recipe for every country
When discussing social commerce, Maria von Scheel-Plessen pointed out the regional differences in adoption rates. While live shopping events are popular in Asia, European consumers are more conservative. She believes that for social commerce to succeed, brands need to create unique and compelling reasons for consumers to engage, such as exclusive collaborations or limited-time offers.
Maria’s extensive experience across different markets has shown her that consumer behavior varies significantly by region. For example, European consumers may require more touchpoints and longer decision-making times compared to the faster-paced purchasing habits of Asian consumers, who often rely heavily on mobile interactions.
Want to learn more from our guest? Watch the full talk below:
Can’t watch? No problem. It is also available on Spotify and Apple Podcast.
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