On August 22, 2024, LVMH Watch & Jewelry and NESTBOWL hosted the third edition of "Discover LVMH Watch & Jewelry," aimed at individuals interested in luxury business and career development. This online event featured three guest speakers from renowned brands, discussing significant changes in consumer purchasing behavior influenced by the pandemic and evolving societal values.
Speakers highlighted a marked shift from brand-centric purchasing to experience-oriented consumption. For instance, BVLGARI's Deputy Store Manager noted that customers now prioritize personal relevance over brand reputation, often opting for high-value items they genuinely desire, regardless of price. Similarly, HUBLOT's Sales Expert observed an increase in customers arriving with specific models in mind, reflecting a more informed and intentional shopping approach.
The event also addressed the growing importance of personalized customer interactions. ZENITH's Boutique Manager emphasized that building trust and understanding individual customer preferences is crucial in today’s market. The discussion revealed that while overall customer numbers have decreased, those who do shop are willing to invest in items that resonate with their personal values.
Furthermore, the influence of international buyers was underscored, with many purchasing high-end watches in Japan, driven by the perception of quality and authenticity. The speakers concluded that adapting to these evolving consumer trends is essential for success in the luxury fashion industry.