Omni-channel strategy at Tiffany&Co

During the next session, we will be discussing the benefits and pitfalls of luxury brands embracing an omni-channel strategy. Read the case Tiffany; based on the case and your experience with brands successful in omni-channel marketing, identify the brand touch-points against different stages in the Customer journey. What could be the different actions that Tiffany can undertake to propose a luxury experience to its customers? What are the challenges regarding store operations and customer service?

You might find useful to go to Tiffany&Co channel on YouTube:

https://www.youtube.com/channel/UCfKBHHIxsR-MrgytQOS9tbw

and on the history of Tiffany:

McKinsey on Digital Luxury

In June, McKinsey presented its latest research on Digital Luxury at FT Business of Luxury Summit in Monte-Carlo (see June post). McKinsey analyzed the omnichannel journey of 7,000 luxury consumers. Results confirm past studies: luxury shoppers are highly digital, mobile and present on social networks. Thus, the question is not anymore if luxury brands should be present online; Rather, how could luxury brands propose an omnichannel experience which matches the expectations of their demanding customers?  In addition, McKinsey 2005 points to a very current concern discussed in class: On social media, does the luxury brand control its brand identity anymore? or is it co-created by the fans, with a risk of damaging the brand image? On average for each official luxury pic posted on Instagram, 10000 more containing the brand hashtag are generated by followers.

Be prepared. Read the report at http://www.mckinseyonmarketingandsales.com/digital-inside-get-wired-for-the-ultimate-luxury-experience