Absurde Preise und Warteschlangen: Haben die Luxusmarken den Bogen überspannt?
Louis Vuitton, Gucci, Chanel. Luxusfirmen erlebten einen beispiellosen Boom – doch der ist nun vorbei.
Die Schadenfreude war nicht zu überlesen. Im Oktober verlor LVMH, der grösste Luxuswarenkonzern der Welt, auf einen Schlag 8,5 Prozent seines Börsenwerts. Einen entsprechenden Bericht des Branchenmagazins «Business of Fashion» kommentierte eine Leserin lakonisch: «Die gierigen und unnötigen Preiserhöhungen mehrmals pro Jahr haben auch nicht geholfen.»
Published in December 2023
Source: NZZ
Kulinarische Erlebnisse verkaufen: Luxusmarken werden Gastgeber
Wer auf Designerschuhe lange warten muss, erhält als Trost ein Mittagessen vom Starkoch. Luxusmarken setzen immer mehr auf Gastronomie.
Frühstück bei Tiffany, Mittagessen bei Gucci, Abendessen bei Louis Vuitton. Was wie Fortsetzungen des berühmten Filmklassikers klingt, ist heute tatsäch-lich möglich. Im Stammhaus des Schmuckgiganten Tiffany & Co kann man seit 2017 tatsächlich frühstücken, Gucci hat seit 2018 in Zusammenarbeit mit Starkoch Massimo Bottura vier Filialen der Gucci Osteria eröffnet, Louis Vuitton lancierte im letzten Jahr eigene Restaurants in Frankreich und China.
Published in November 2023
Source: Hotellerie Gastronomie Zeitung
The luxury experience economy: luxury retailers and hospitality brands are converging
In the past, luxury goods have been associated with lavish products and services that cater to an elite clientele. The hospitality industry focused on providing customers with comfortable accommodations and attentive services. These lines have blurred with time.
Luxury goods and luxury hospitality are increasingly merging to create a new category of luxury customer experiences. In the past, luxury goods have been associated with lavish products and services that cater to an elite clientele. The hospitality industry focused on providing customers with comfortable accommodations and attentive services. These lines have blurred with time, giving birth to a new industry of luxury experiences.
Published in November 2023
Source: Economic Times
L’horlogerie continue de miser sur les boutiques
Passé l’effet covid, les amateurs de montres et d’autres biens de luxe, qui étaient contraints de commander sur internet, ont repris goût à se rendre dans leur point de vente habituel. Les grandes marques ont continué d’investir dans le multicanal.
Au sortir d’une pandémie marquée par une frénésie d’achats en ligne, la tendance avait déjà émergé et se confirme: les points de vente horlogers n’ont pas dit leur dernier mot, bien au contraire. Ce constat a été au cœur des discussions qui ont réuni des experts du secteur du luxe au Forum de la Fondation de haute horlogerie qui s’est tenu la semaine dernière à la Maison de la paix de Genève.
Published in November 2023
Source: Le Temps
Weiterhin die weltweite Nummer 1
Die EHL Hospitality Business School hat einen markanten Entwicklungsschub hinter sich. An einer Informationsveranstaltung im Zürcher Hotel Storchen präsentierten EHL-Führung und Dozierende ihre Visionen für die Zukunft.
Marco Zanolari, CEO der Gruppe The Living Circle, zu der unter anderem das Fünfsternehaus Storchen an der Limmat in Zürich gehört, hat einst die EHL absolviert. Schon unter dem ursprünglichen Namen Ecole hôtelière de Lausanne genoss die älteste, vor 130 Jahren gegründete Hospitality-Kaderschmiede ein weltweites Renommee.
Published in October 2023
Source: Travelnews
The Disappointment Tax: Profits Can Pivot on Social Reviews
In the world before the Internet, the ramifications of disappointing a guest were more contained than they are in modern times.
Failing to please a guest before the world was actively online might result in a letter to management and disgruntled conversations with family, friends and coworkers – consequences that are undesirable enough on their own.
Today the negative maelstrom disappointed guests can create is exponentially amplified as social media and online review sites serve as megaphones for opinions.
Published in September 2023
Source: Hospitalitynet
Creating memorable customer experiences: How to go the extra mile
In business, customer experience is often presented as a differentiator, something a company chooses to focus on in order to outperform its competitors. Yet, a company will inevitably interact with its customers at some point, and those customers' opinions about these touchpoints will affect their future behavior, including possible repeat purchases and word-of-mouth. Consequently, customer experience is not like an extra feature added to a product to make it more attractive, it is ‘built in’ and represents a compulsory aspect of doing business. So if creating customer experiences is unavoidable by default, what exactly does it mean, and what do businesses need to understand about it to successfully leverage it as a competitive advantage?
Published in May 2023
Source: EHL Insights
How and When to Communicate Sustainability
Many companies are wondering whether and how they should communicate their sustainability efforts. The challenge is usually to inform customers convincingly without appearing to be bragging or “greenwashing”. Nespresso has developed a clear strategic approach to this question. In this interview, Mélanie Brinbaum, Chief Brand Officer at Nespresso, explains how Nespresso’s heritage is rooted in sustainable thinking and practices, and describes the company’s ongoing efforts to do better – and speak about it.
Published on February 2023
Source: Marketing Review St.Gallen
The Future of VR and AR
The hype around Virtual Reality (VR) and Augmented Reality (AR) has recently decreased. Thia is mainly due to other technologies - like, for example, cryptocurrency and artificial intelligence (AI) - taking the spot.
Published on March 2023
Source: The Economic Times
Customer feedback on hospitality experiences: 5 best practices
Why is asking for customer feedback so important and how can it be done to enhance the customer journey? The findings of a recent research project answer these questions that are vital to the success of any business, especially one based on hedonic experiences like the hospitality sector. This article summarizes five best practices grounded in consumer psychology research that businesses should consider when inviting customers to leave feedback on hospitality experiences.
Published in 2022
Source: EHL Insights
Cognitive Biases as Boosters: Using Cognitive Biases to Improve Communication Recall for Emmi Jogurtpur
Only one in three Swiss brands strategically uses insights from consumer psychology research when developing new marketing communication. However, if done in a structured and strategic way, applying these insights can boost a brand’s marketing performance. We present the successful application of insights from consumer psychology research to Emmi Jogurtpur. We show how it can be done and how successful it can be for brands.
Published on June 2022
Source: Marketing Review St. Gallen
The New Consumer: A Typology of Consumer Reactions to the COVID-19 Crisis
The COVID-19 crisis is disrupting and changing the lives of consumers in dramatic ways. Research and businesses face the challenge of responding to an unprecedented situation. Drawing on a three-step empirical study design, this study identifies how consumers in Germany and Switzerland reacted to financial and non-financial constraints imposed by the COVID-19 crisis. Building on these findings, we typologize consumer reactions to the COVID-19 crisis. Based on this in-depth analysis of consumer reactions, this study provides guidance to researchers and businesses during volatile times of the COVID-19 crisis.
Published on April 2022
Source: Consumption, Production, and Entrepreneurship in the Time of Coronavirus
The Reviewer Effect: How Writing Reviews Affects Enjoyment and Connections
Consumers produce more reviews than ever before. From a companys perspective, the appeal of a constant stream of incoming information about how consumers experience its products or services seems clear. By better understanding consumers thoughts and reactions, firms can swiftly make changes to increase consumer satisfaction. However, how does expressing their views about products and experiences affect consumers?
Published on September 2021
Paying twice to have it your way? The backfiring effect of mass customization on a product’s resale value
Across industries, mass customization has been hailed a winning strategy because customers are willing to pay substantially more for being able to purchase a unique product that is customized to their individual preferences. In this research, we highlight a so-far hidden downside of this strategy.
Published on October 2020
Source: Journal of Marketing Research
The Review-Writing Effect: Writing a Review Amplifies Evaluations and Connections More Than Rating Does
The era of ubiquitous consumer feedback solicitations is upon us: When buying products online, consuming meals in a canteen, or going through airport security, one would be hard-pressed not to be asked to constantly rate and review. For managers, the appeal of constantly measuring consumers’ satisfaction with their offerings seems clear. By better understanding what consumers think, they can react and improve their products and experiences. But is the same true for the consumer? Are quick and easy feedback requests advisable from a consumer perspective? In particular, how does writing reviews impact consumers’ mental states when compared to rating the same product?
Published in 2020
Source: Association for Consumer Research
EHL’s Customer Experience Management Institute: prioritizing customer-centricity
In September 2020, EHL launched a new research institute called the Institute of Customer Experience Management. The launch of the institute, along with its ambitious research program, is part of the strategic vision of the school which, through the creation of business/research institutes in different disciplines, is trying to advance academic knowledge serving the needs of the industry.
Published in 2020
Source: EHL Insights
Seven technological developments that will shape the future of marketing
This is a pivotal moment for marketers. New technologies are reshaping markets, the way we interact with our consumers, and their behaviors. Across industries, incumbents have to re-think their marketing strategies and their relationship with consumers, whereas start-ups often seem to understand today’s consumer better. At the same time, consumers want more, they want it faster, they want it to be easier, and they want to pay less for it. How do you make sure to stay on top of these developments and changes? And which of the changes are relevant?
Published in 2019
Source: Bio Marketing Technology Lab
The moderating role of context in determining unethical managerial behavior: A case survey
We examine the moderating role of the situational and organizational contexts in determining unethical managerial behavior, applying the case-survey methodology. On the basis of a holistic, multiple-antecedent perspective, we hypothesize that two key constructs, moral intensity and situational strength, help explain contextual moderating effects on relationships between managers’ individual characteristics and unethical behavior. Based on a quantitative analysis of 52 case studies describing occurrences of real-life unethical conduct, we find empirical support for the hypothesized contextual moderating effects of moral intensity and situational strength. By examining these complex contextual moderators, we aim to contribute to organizational ethics research as we shed light on the critical role that context may play in influencing unethical managerial behavior.
Published on December 2018
Source: Journal of Business Ethics
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