How Tiffany & Co. conquered mobile
Traditional luxury companies, like the iconic Tiffany & Co., were amongst the slowest adopters of Ecommerce and mobile marketing. But if Tiffany was late to the party, it’s made the most of it since. The company’s vice president of North American marketing, Catherine Lacaze, recently sat down to discuss the process with adweek.com, an online marketing trade journal. And surprisingly, she said the company learnt a lot from its competitors.
Tiffany’s share price has appreciated by 22% so far this year
SOURCE: Yahoo Finance
Originally, Tiffany was concerned about putting its products on mobile due to the small size of the screen. The company felt that the quality might not come through with such a diminished image – but it had failed to understand just how much people trust their smartphones.
“We were scared of showing expensive products on a tiny screen,” Lacaze said. “But people will click. That’s one lesson we learned. People sleep with that little screen.” This was one of many insights that Tiffany gleaned form watching how other brands interacted with their customers. Lacaze said: “The disruptors, we need to watch them carefully. When we look at competitors, most are offering customization.”
Of course, Tiffany has long offered customization, but Lacaze feels that the brand “rested on our laurels too long and people forgot.” It was imperative that customers “know we can engrave, embroider, etch or emboss anything you buy from us. It makes us rethink how we communicate to the next generation.”
Dominion holds Tiffany & Co. in its Global Trends Luxury Fund.
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