How’s business in the fashion world these days? I don’t know much about fashion but clearly the fashion brand tyrant Burberry isn’t doing very well lately. Due to the economic slowdown in China, which is one of Burberry’s biggest revenue sources, and the decreasing number of investors, Burberry is making far less profits last year.
In order to lure back its customers and increase its revenue, Burberry starts to find new aspects of its product and high-quality service that will promote their sales. Not only does Burberry start to use “digital” concept in its latest design by using bright colors to create the feeling of future, but it also uses a system called “Customer 360” that can record every customer’s product preference for Burberry’s improvement. Also, when customers are fitting outfits, they can add accessories on a large screen to see how it matches with their outfit without actually trying it.
Will this strategy work out for Burberry? Can digital improvements win back its customers? Some say the high price of Burberry drives its customers away swiftly and Burberry should try to adjust its price to attract more buyers. However, Burberry has no intention to do so and remain targeting its consumer as rich luxury-lovers.
News source: High Tech Fashion: Burberry goes digital
Video: Burberry womenswear spring/summer 2013 show (we can feel the difference in Burberry designs in this show)
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