Data & Analytics in the luxury space: a hate/love relationship by Professor David Dubois
Many boutiques are investing much more on e-commerce in the time of COVID and closing down some physical stores – more data is going to be available for Luxury brands in the near future. What do you think are going to be the next big challenges vs. opportunities for companies handling this data?Luxury shoppers love the entire experience rather than just buying the product – how can data be used to cater to consumer experiential preferences?Since 2018, since the entry in force of GDPR, people argue that in Europe protecting the data of the consumers are excessively strict vs. in the US the data protection isn’t as enforced. How can luxury European brands adapt to new laws and leverage their cross-border relation/collaboration with the US.In the time of COVID, where travel has become more much restricted, how can data be used to entice the Global Shopper (Chinese) to keep purchasing as many goods and services.