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Digital Luxury Experience 2013 
Keeping up with changing customers
The authors would like to thank Altagamma Foundation, and in particular Mr Andrea Illy, 
Altagamma President, Armando Branchini, Altagamma Executive Director, for their 
valuable contribution to the research. Altagamma Foundation, which convenes the 
leading Italian luxury goods companies, supports the yearly Digital Luxury Observatory in 
conjunction with McKinsey & Company. 
Special thanks also to all Digital Luxury Experience Advisory Board members for their 
participation in the research and significant contributions to the knowledge shared here. 
The authors are also grateful to Anna Sanfilippo, Gaetano Vallefuoco at McKinsey, who 
contributed to the development of this report.
Digital Luxury Experience 2013 
Keeping up with changing customers 
Linda Dauriz 
Ambrogio Michetti 
Nicola Sandri 
Andrea Zocchi 
For additional contents about the research please visit the Mobile Site 
www.digitalluxuryexperience.it 
DLE
Luxury shopping is changing fast. 
The winners will keep pace 
Digital is influencing almost 20% of total 
luxury sales. More than 70% of luxury 
shoppers own a mobile devices, more 
than 50% of them research through 
mobile. Digital is essential, Brands must 
1 go mobile 
The power of 
digital 
presence 
Effective digital 
strategies vary 
by brand and 
category 
2 
Three successful archetypes are arising 
on digital luxury markets. Brands need to 
understand what are their DNA, monitor 
performances along Customer Decision 
Journeys and then act consistently 
Digital tools can 
help connect 
people and 
information 
within the 
organization 
3 
Digital is affecting entire value chain, 
from digital marketing to enhanced 
in-store experience, from multi-channel 
CRM to product co-creation, from 
e-procurement to 3D prototyping. 
But its potential is still a very early stage 
across most functions
Digital Luxury Experience 2013 
Keeping up with changing customers 
Today, three out of four luxury shoppers carry digital devices so powerful that the word 
“phone” barely describes them. Millions of these shoppers now insist on interacting with 
brands digitally—using their computers, tablets and “phones”—before they decide what to 
buy, where to buy it or how much they’re willing to pay. 
Our research shows that shopping behaviors are changing almost as fast as technology. 
In 2013, digital interactions directly generated more than 13 percent of offline luxury sales 
and influenced another 28 percent of sales. Pure online sales doubled to four percent of 
the total market, growing twice as fast as the luxury market overall. If current growth rates 
continue for five years, annual online luxury sales could reach 20 billion euros. And since 
five years is an eternity in the digital universe, that number could be higher. 
The opportunities—and the risks—are huge. Brands that reach luxury shoppers with the 
right experiences and information at the right moment will win a larger share of growth and 
outperform competitors. Brands that don’t keep pace with their customers’ digital 
behavior and preferences will fall behind. And companies that provide frustrating or 
substandard online experiences may tarnish their brands and destroy value. 
Our new research shows, however, that maximizing digital impact is not as simple as 
building a better website or sending more messages into the Twittersphere. Companies 
that make digital investments wisely, based on their unique brand archetypes and 
categories, will see measurably better results and create more value. Knowing exactly 
what to measure and how to respond to rapidly changing shopping behaviors will help 
marketing teams deliver on the digital promise for years to come. Meanwhile, digital 
knowledge-sharing and data mining will help deliver impact within companies. 
The findings, insights and recommendations in this report are based on the ongoing work 
of the Altagamma-McKinsey Online Observatory. This year’s research encompassed more 
than 300 luxury brands in 12 categories, 700 websites, 13 million online comments, 300 
questionnaires and 3,000 interviews in six countries. In all, the Observatory tracks about 
70 indicators that illuminate how digital strategies and tactics affect brand perceptions and 
sales. The Observatory’s advisory board, which included leaders from some of the world’s 
most powerful luxury brands, help shape and guide the research to make sure it’s relevant, 
useful and timely.
Exhibit 1 
Online sales are still below 10 EUR billion in 2013 but are expected to 
double in 5 years 
Personal luxury goods online market, EUR billion 
18-22 
2018E 
9.0 
2013E 
7.5 
2012 
4% 4% 6-7% 
Exhibit 2 
Almost 20% of total sales are directly influenced by digital 
2013, EUR billion 
Pure online 
sales 
Offline sales 
generated by 
online 
experience 
Digital 
impact on 
sales 
Offline sales 
influenced by 
online 
experience 
Percent of total 
luxury market 
Percent of total 
luxury market 
Total digital 
impact 
9 
28 37 
~60 97 
4% 13% 17% 27% 44%
Digital Luxury Experience 2013 
Keeping up with changing customers 
The power of digital presence. 
For a growing segment of luxury shoppers, online experiences drive real-world decision-making. 
Our research shows that more than 45 percent of luxury purchases are 
influenced by what shoppers find in the digital universe. We expect that number to rise in 
step with smartphone penetration and segment demographics. 
The future of pure online transactions 
Pure online transactions still represent only about 4 percent of the total luxury goods 
market, but they’re growing twice as fast as the sector as a whole. 
We expect the share of pure online sales to keep rising, especially for perfumes, cosmetics 
and fashion accessories, which now represent about 68 percent of online luxury goods 
sales—about 6.2 billion euros. By 2017, pure online sales should account for about 6 
percent of the sector as a whole. 
The value of search 
Not surprisingly, people cite convenience and speed as key reasons to make purchases 
online. The farther they are from stores, for example, the more likely they are to buy 
online. The shoppers we surveyed also cited their ability to compare products and prices 
and find a wider selection online. 
Most shoppers may remain reluctant to purchase more expensive and custom products 
online, preferring to see them and touch them first, but many will compare product 
features and prices online before settling on one to buy and choosing a retailer. 
In other words, by the time many shoppers have reached a bricks-and-mortar luxury store, 
they’re likely to have a good understanding of all the products in the category, including 
features and prices. They’ll choose stores based on proximity, of course, but in the years 
ahead, online ratings and opinions may help drive more decisions about where to make 
purchases. 
3 
1
Exhibit 3 
Mobile is getting traction on luxury shoppers 
Based on customer survey across 6 countries 
Luxury shoppers own mobile 
devices … … using them for search 
% of luxury shoppers with mobile % of luxury shoppers searching via 
Exhibit 4 
Social media account for more than 55% of buzz volume, with higher 
sentiment than other sources 
Percent of total mentions on luxury brands 
Based on sample of 13 million comments 
mobile 
49% 
74% 
Smart-phones 
Tablets 
33% 
22% 
Always/ 
often 
Some-times 
11% 
Newsreaders 
7% 
8% 
26% 
48% 
Blogs 
Forums 
Twitter 
Facebook 
32% tweets, 
16% retweets
Digital Luxury Experience 2013 
Keeping up with changing customers 
Growth varies by store format and geography 
Mono-brand retailers grew almost twice as fast as other formats in the last year. More 
than 70 percent of pure online sales now take place in Europe and the Americas, but the 
mobile channel is growing strongly across geographies. Pure e-tailers are expanding in the 
Asia-Pacific region, for example, where players such as Kering and Yoox are consolidating 
and gaining market power, and new entrants are fueling competition and innovation. 
The luxury shopper is more mobile than ever 
Meanwhile, smartphone penetration is fueling luxury shoppers’ “digital passion.” Three out 
of four own a smartphone, and about half of them own a tablet, according to our 
interviews of more than 3,000 luxury customers. They tend to use their smartphones and 
tablets in certain situations and rely on computers in others. When they’re at work, for 
example, they search on computers. But while commuting, at meals and while shopping, 
they’re more likely to use smartphones—especially to look for products and find stores. 
The research therefore suggests that engaging, easy-to-navigate mobile sites are more 
likely to drive store traffic. Indeed, more than half of luxury shoppers’ searches are mobile, 
and more than one in five of the shoppers we spoke with said they often or always 
researched luxury products on a mobile device before making a purchase. The research 
also suggests that brands can’t expect to bring potential customers into the store simply 
by building better web or mobile sites. That’s because more luxury shoppers are looking 
for product-oriented sources of information, such as multibrand and department stores, 
where it’s easier to compare brands, products and prices. 
Some high-end retailers have invested in mobile applications to engage with their 
customers, but only about 4 percent of the shoppers we surveyed reported downloading a 
luxury brand app. Indeed, only about a quarter have downloaded any apps at all. 
Surprising news about buzz 
The impulse to post or tweet on the most minute topics does not seem to have infected 
luxury shoppers. Our research founds that fewer than one in three uses social media to 
post opinions about luxury products—and that only 3 percent of those comments are 
negative. More than half are not creating judgemental (e.g., most picture without 
comment). 
These shoppers do seem to care deeply about other people’s opinions online, however. 
More than half of “brand buzz” arises from social media, according to our research. 
Among mentions in social media of all luxury goods categories, cars rule. Analyzing 13 
million mentions from October 2012 to March 2013, we found that cars appeared 361,000 
times, or about 2,000 times per day. On the subject of fashion accessories, more than 
three-quarters of mentions were about products—not brands. Events and companies 
appear far down the list, at 11% and 4% of mentions, respectively. 
5
Exhibit 5 
Companies could measure digital performances 
Online Marketing 
Excellence 
Exhibit 6 
Three main digital archetypes are arising 
Key characteristics 
▪ Diversified retail strategy - both 
mono- and multi-brand stores 
▪ 360o use of digital, from social 
media to full-fledged store 
▪ Tight retail control (mono-brand 
sites only) 
▪ Opportunistic use of digital as entry 
point for aspirational customers 
–Marketing channel 
–Store for entry-level products only 
▪ Small companies 
▪ Tight control of retail (mono-brand 
stores only) 
▪ Use of online as showroom only 
Criteria to identify 
archetypes 
Brand DNA: 
 Positioning 
 Customer fit with 
online 
 Size/ownership 
Channel strategy: 
Multichannel 
integration 
 Retail control 
“The plugged-in 
pro” 
“The selective 
e-tailer” 
“The hesitant 
holdout” 
DIGITAL 
SCORECARD 
Company economic perfor-mance/ 
digital enterprise self-assessment 
questionnaire 
▪Revenues – total and online 
▪EBITDA 
▪Use of digital 
Customer survey 
▪Customers’ online 
sales 
▪Customers’ offline 
sales, directly 
generated or 
influenced by online 
(ROPO effect) 
▪Customers’ preferred 
online sales channel 
▪Customers’ online 
searches 
Social media and online 
mentions 
▪Social media reach and 
activity 
▪Buzz volume and mix 
40 indicators, 
monitored along the 
Consumer Decision 
Journey steps, 
clustered by: 
▪Reach 
▪Search 
▪Site usability 
▪Brand interest 
▪Site usage 
▪Online success 
▪Customer experience
Digital Luxury Experience 2013 
Keeping up with changing customers 
Effective digital strategies vary by 
brand and category 
To allocate digital investments wisely, we must choose the right metrics to monitor and 
then determine which responses will deliver the most impact. Our research suggests that 
the most useful indicators come from four main sources: 
• OMEX1 online marketing metrics along the “consumer decision journey,” from 
awareness and consideration to purchase and loyalty 
• Social media and online mentions 
• Customer feedback from surveys and other sources 
• Economic performance, including revenues, earnings and digital traffic 
Gathering numbers is not enough, of course. Effective responses to what the metrics 
reveal vary according to each brand’s digital archetype and product category. 
Companies can be divided into three archetypes: “plugged-in pros,” “selective e-tailers” 
and “hesitant holdouts.” Plugged-in pros have a diversified retail strategies including mono 
and multi-brand stores, and they use every form of digital communication, from social 
media to e-tail and bricks-and-mortar stores. 
Selective e-tailers maintain tight control over mono-brand sites only, and use digital entry 
points for aspirational customers. For them, digital is mainly a marketing channel, and 
they sell only entry-level products online. 
Hesitant holdouts are smaller companies and retain tight control of all retail, selling from 
mono-brand stores only. For them, digital platforms are showrooms only. 
Each of these retailers should use a unique, sophisticated dashboard to track dozens of 
digital metrics, from awareness through loyalty, and compare them to industry-specific 
benchmarks. Companies in each category can then identify which indicators correlate 
most closely to digital impact at each step in the purchase journey. 
For certain brands, driving website traffic may improve awareness more than any other 
tactic, while average pages per website visit may be the best measure of consideration. 
Facebook mentions may say more about loyalty than any other easily available metric. 
7 
2 
1 Online Marketing Excellence, McKinsey-Google proprietary benchmark
Exhibit 7 
Example of impact of different digital KPI’s on sales increase 
Customer 
decision 
services steps 
Awareness 
Digital KPI’s Correlation with sales increase 
Traffic rank 
Total number of organic keywords 
Total number of paid keywords 
Google page rank 
Average Pages per Visit 
Average pages per usage day 
Average pages per visitor 
Customers trust of official website info 
Indirect e-commerce 
Searchmatics paid search visibility score 
Sum of referring domains 
Sum of backlinks 
Number of Facebook talking abouts 
Average usage days per visitor 
Total number of Twitter links 
Buzz volume 
0.2 
0.2 
0.1 
0.3 
0.3 
0.5 
0.8 
0.9 
0.2 
0.1 
0.3 
0.8 
0.2 
0.2 
0.1 
0.4 
Conside-ration 
Purchase 
Loyalty 
Exhibit 8 
Example of actions to improve priority indicators 
Area of impact 
Awareness 
Priority KPI Examples of specific actions 
 Traffic rank 
 Total number of 
organic keywords 
Conside-ration 
Purchase 
Loyalty 
 Improve search visibility: optimize SEO/SEM programs, 
mobile-specific search, etc. 
 Average pages per 
visit 
 Average pages per 
usage day 
 Leverage e-mail marketing: follow up e-mails with 
promotional offers/events based on visitors 
segmentation, observed searches 
 Enhance website design: change page layout, 
placing/naming of links, colors, scaling of pictures, 
location of offers, etc. 
 Indirect e-commerce 
 Searchmetric paid 
search visibility score 
 Differentiate online presence on multi-brand e-stores 
 Number of Facebook 
talking abouts 
 Average usage days 
per visitor 
 Boost semantic/graphical attractiveness of social media 
activity: e.g. 
– Add image links to talks/posts/tweets (engagement 
rates 2x higher than without image links) 
– Talks/posts/tweets that contain less than 100 
characters generate 17% higher engagement than 
longer talks/posts/tweets
Digital Luxury Experience 2013 
Keeping up with changing customers 
None of the indicators works in isolation, of course; they all affect the others. Increasing 
the number of Twitter followers and Facebook friends tends to drive website traffic, for 
example. 
Once a company has identified the most important indicators of digital success, it can 
take action to move the needle in those areas. To increase consideration, for example, 
the marketing team may send more promotional offers by email. The web design team 
may improve the site design to make it more appealing, thus raising average pages per 
visit. Both metrics are easy to track weekly, allowing managers to test and fine-tune 
different approaches. 
Just as each luxury shopper is unique, each brand has its own DNA and style. What 
works well for one company may not work for the customers or employees or another. 
But knowing your organization’s brand archetype can help reveal which metrics to use 
and how to compete effectively in an increasingly competitive digital universe. 
Each archetype has its strengths and weaknesses, and each can benefit from different 
digital strategies. 
9
Exhibit 8 
Use of digital is still a very early stage across most functions 
Based on survey across more than 50 companies sample 
 Stable  Improving  Strongly improving 
Expected 
trend 
Functions Levers 
Business 
admini-stration 
Virtual training 
Internal employee collaboration 
Digital recruiting 
Wholesale 
Sales force automation 
Collaborative uplift forecasting 
Retail stores compliance 
Marketing/ 
category 
mana-gement 
Big data pricing, promo, and 
assortment 
E-category management 
New product/store launches 
Digital marketing strategy/ 
spending opt. 
Digital marketing execution 
Digital marketing consolidation 
Sales and 
channel 
mgmt 
Enhanced in-store customer 
experience 
Direct e-commerce (owned 
channel) 
Indirect e-commerce (third 
parties) 
Operations 
E-procurement and e-sourcing 
tools 
In-store labor optimization 
3D prototyping and printing 
Digital devices and analytics 
in prod. 
End-to-end traceability 
Data-driven demand planning 
Offering 
design 
Collaborative insights 
generation 
CLM/Omni-channel data 
management 
Digitally enabled new offering 
Performance heat map 
Not 
present Testing 
Deploy-ment 
Full 
scale 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1 2 3 4
Digital Luxury Experience 2013 
Keeping up with changing customers 
Digital tools can help connect people 
and information within the organization. 
To boost sales and earnings, each luxury retailer should invest in one tailored set of digital 
tools to reach shoppers—and another set to connect people and data within the 
organization. 
Digital communication can create value across a company’s full value chain. Access to 
big data can provide powerful new insights to marketing and category management, for 
example, improving pricing, promotion and assortment to drive revenues and earnings. 
Digital connections with wholesalers can allow sales force automation and collaborative 
forecasting. Digital tools like e-procurement, 3D prototyping and end-to-end traceability 
can improve operations functions. 
11 
3
Digital Luxury Experience 2012 
From customer experience to impact 
About the research 
Digital Luxury Experience 2013 is the second report produced by the Altagamma- 
McKinsey Online Observatory, a collaboration between the Altagamma Foundation 
and McKinsey  Company. 
This report synthesizes a wider research, covering in detail a complete spectrum of 
digital impact drivers and key success factors along three main elements: 
Personal luxury goods digital market. Digital market has been analyzed though a 
bottom-up approach, gauging current online sales of more than 300 companies, 
foreseeing future outlook with price segment, channel and geographical breakdown. 
Online luxury consumers behavior. To better understand the market and 
consumers, the 2013 report is the product of a broader research base than its 
predecessor: 3,000 consumers interviewed in 6 major luxury markets — Germany, 
France, Italy, the United Kingdom, the United States and Japan. 
Company digital performance benchmark. More than 300 global luxury goods 
companies have been clustered in 12 product categories, in order to allow correct 
comparison among peer groups. Digital brand performances have measured some 
700 websites, with more than 70 indicators along the following dimensions: social 
media and buzz volume, Digital Customer Decision Journey steps, website usability, 
digital investments, organizations and capabilities. 
Methodology, analyses and findings have been developed and syndicated by the 
Digital Luxury Experience Advisory Board, composed by senior executives 
from 15 leading global luxury brands across a range of categories. The Board 
provided feedback and scrutiny, shared their views on market trends, and suggested 
new areas of analysis. 
13
Contacts 
Linda Dauriz 
linda_dauriz@mckinsey.com 
Ambrogio Michetti 
ambrogio_michetti@mckinsey.com 
Nicola Sandri 
nicola_sandri@mckinsey.com 
Andrea Zocchi 
andrea_zocchi@mckinsey.com 
February 2014 
Copyright © McKinsey  Company, Inc. Italy 
For additional contents about the research please visit the Mobile Site 
www.digitalluxuryexperience.it 
DLE

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Digital luxury experience_2013

  • 1. Digital Luxury Experience 2013 Keeping up with changing customers
  • 2. The authors would like to thank Altagamma Foundation, and in particular Mr Andrea Illy, Altagamma President, Armando Branchini, Altagamma Executive Director, for their valuable contribution to the research. Altagamma Foundation, which convenes the leading Italian luxury goods companies, supports the yearly Digital Luxury Observatory in conjunction with McKinsey & Company. Special thanks also to all Digital Luxury Experience Advisory Board members for their participation in the research and significant contributions to the knowledge shared here. The authors are also grateful to Anna Sanfilippo, Gaetano Vallefuoco at McKinsey, who contributed to the development of this report.
  • 3. Digital Luxury Experience 2013 Keeping up with changing customers Linda Dauriz Ambrogio Michetti Nicola Sandri Andrea Zocchi For additional contents about the research please visit the Mobile Site www.digitalluxuryexperience.it DLE
  • 4. Luxury shopping is changing fast. The winners will keep pace Digital is influencing almost 20% of total luxury sales. More than 70% of luxury shoppers own a mobile devices, more than 50% of them research through mobile. Digital is essential, Brands must 1 go mobile The power of digital presence Effective digital strategies vary by brand and category 2 Three successful archetypes are arising on digital luxury markets. Brands need to understand what are their DNA, monitor performances along Customer Decision Journeys and then act consistently Digital tools can help connect people and information within the organization 3 Digital is affecting entire value chain, from digital marketing to enhanced in-store experience, from multi-channel CRM to product co-creation, from e-procurement to 3D prototyping. But its potential is still a very early stage across most functions
  • 5. Digital Luxury Experience 2013 Keeping up with changing customers Today, three out of four luxury shoppers carry digital devices so powerful that the word “phone” barely describes them. Millions of these shoppers now insist on interacting with brands digitally—using their computers, tablets and “phones”—before they decide what to buy, where to buy it or how much they’re willing to pay. Our research shows that shopping behaviors are changing almost as fast as technology. In 2013, digital interactions directly generated more than 13 percent of offline luxury sales and influenced another 28 percent of sales. Pure online sales doubled to four percent of the total market, growing twice as fast as the luxury market overall. If current growth rates continue for five years, annual online luxury sales could reach 20 billion euros. And since five years is an eternity in the digital universe, that number could be higher. The opportunities—and the risks—are huge. Brands that reach luxury shoppers with the right experiences and information at the right moment will win a larger share of growth and outperform competitors. Brands that don’t keep pace with their customers’ digital behavior and preferences will fall behind. And companies that provide frustrating or substandard online experiences may tarnish their brands and destroy value. Our new research shows, however, that maximizing digital impact is not as simple as building a better website or sending more messages into the Twittersphere. Companies that make digital investments wisely, based on their unique brand archetypes and categories, will see measurably better results and create more value. Knowing exactly what to measure and how to respond to rapidly changing shopping behaviors will help marketing teams deliver on the digital promise for years to come. Meanwhile, digital knowledge-sharing and data mining will help deliver impact within companies. The findings, insights and recommendations in this report are based on the ongoing work of the Altagamma-McKinsey Online Observatory. This year’s research encompassed more than 300 luxury brands in 12 categories, 700 websites, 13 million online comments, 300 questionnaires and 3,000 interviews in six countries. In all, the Observatory tracks about 70 indicators that illuminate how digital strategies and tactics affect brand perceptions and sales. The Observatory’s advisory board, which included leaders from some of the world’s most powerful luxury brands, help shape and guide the research to make sure it’s relevant, useful and timely.
  • 6. Exhibit 1 Online sales are still below 10 EUR billion in 2013 but are expected to double in 5 years Personal luxury goods online market, EUR billion 18-22 2018E 9.0 2013E 7.5 2012 4% 4% 6-7% Exhibit 2 Almost 20% of total sales are directly influenced by digital 2013, EUR billion Pure online sales Offline sales generated by online experience Digital impact on sales Offline sales influenced by online experience Percent of total luxury market Percent of total luxury market Total digital impact 9 28 37 ~60 97 4% 13% 17% 27% 44%
  • 7. Digital Luxury Experience 2013 Keeping up with changing customers The power of digital presence. For a growing segment of luxury shoppers, online experiences drive real-world decision-making. Our research shows that more than 45 percent of luxury purchases are influenced by what shoppers find in the digital universe. We expect that number to rise in step with smartphone penetration and segment demographics. The future of pure online transactions Pure online transactions still represent only about 4 percent of the total luxury goods market, but they’re growing twice as fast as the sector as a whole. We expect the share of pure online sales to keep rising, especially for perfumes, cosmetics and fashion accessories, which now represent about 68 percent of online luxury goods sales—about 6.2 billion euros. By 2017, pure online sales should account for about 6 percent of the sector as a whole. The value of search Not surprisingly, people cite convenience and speed as key reasons to make purchases online. The farther they are from stores, for example, the more likely they are to buy online. The shoppers we surveyed also cited their ability to compare products and prices and find a wider selection online. Most shoppers may remain reluctant to purchase more expensive and custom products online, preferring to see them and touch them first, but many will compare product features and prices online before settling on one to buy and choosing a retailer. In other words, by the time many shoppers have reached a bricks-and-mortar luxury store, they’re likely to have a good understanding of all the products in the category, including features and prices. They’ll choose stores based on proximity, of course, but in the years ahead, online ratings and opinions may help drive more decisions about where to make purchases. 3 1
  • 8. Exhibit 3 Mobile is getting traction on luxury shoppers Based on customer survey across 6 countries Luxury shoppers own mobile devices … … using them for search % of luxury shoppers with mobile % of luxury shoppers searching via Exhibit 4 Social media account for more than 55% of buzz volume, with higher sentiment than other sources Percent of total mentions on luxury brands Based on sample of 13 million comments mobile 49% 74% Smart-phones Tablets 33% 22% Always/ often Some-times 11% Newsreaders 7% 8% 26% 48% Blogs Forums Twitter Facebook 32% tweets, 16% retweets
  • 9. Digital Luxury Experience 2013 Keeping up with changing customers Growth varies by store format and geography Mono-brand retailers grew almost twice as fast as other formats in the last year. More than 70 percent of pure online sales now take place in Europe and the Americas, but the mobile channel is growing strongly across geographies. Pure e-tailers are expanding in the Asia-Pacific region, for example, where players such as Kering and Yoox are consolidating and gaining market power, and new entrants are fueling competition and innovation. The luxury shopper is more mobile than ever Meanwhile, smartphone penetration is fueling luxury shoppers’ “digital passion.” Three out of four own a smartphone, and about half of them own a tablet, according to our interviews of more than 3,000 luxury customers. They tend to use their smartphones and tablets in certain situations and rely on computers in others. When they’re at work, for example, they search on computers. But while commuting, at meals and while shopping, they’re more likely to use smartphones—especially to look for products and find stores. The research therefore suggests that engaging, easy-to-navigate mobile sites are more likely to drive store traffic. Indeed, more than half of luxury shoppers’ searches are mobile, and more than one in five of the shoppers we spoke with said they often or always researched luxury products on a mobile device before making a purchase. The research also suggests that brands can’t expect to bring potential customers into the store simply by building better web or mobile sites. That’s because more luxury shoppers are looking for product-oriented sources of information, such as multibrand and department stores, where it’s easier to compare brands, products and prices. Some high-end retailers have invested in mobile applications to engage with their customers, but only about 4 percent of the shoppers we surveyed reported downloading a luxury brand app. Indeed, only about a quarter have downloaded any apps at all. Surprising news about buzz The impulse to post or tweet on the most minute topics does not seem to have infected luxury shoppers. Our research founds that fewer than one in three uses social media to post opinions about luxury products—and that only 3 percent of those comments are negative. More than half are not creating judgemental (e.g., most picture without comment). These shoppers do seem to care deeply about other people’s opinions online, however. More than half of “brand buzz” arises from social media, according to our research. Among mentions in social media of all luxury goods categories, cars rule. Analyzing 13 million mentions from October 2012 to March 2013, we found that cars appeared 361,000 times, or about 2,000 times per day. On the subject of fashion accessories, more than three-quarters of mentions were about products—not brands. Events and companies appear far down the list, at 11% and 4% of mentions, respectively. 5
  • 10. Exhibit 5 Companies could measure digital performances Online Marketing Excellence Exhibit 6 Three main digital archetypes are arising Key characteristics ▪ Diversified retail strategy - both mono- and multi-brand stores ▪ 360o use of digital, from social media to full-fledged store ▪ Tight retail control (mono-brand sites only) ▪ Opportunistic use of digital as entry point for aspirational customers –Marketing channel –Store for entry-level products only ▪ Small companies ▪ Tight control of retail (mono-brand stores only) ▪ Use of online as showroom only Criteria to identify archetypes Brand DNA: Positioning Customer fit with online Size/ownership Channel strategy: Multichannel integration Retail control “The plugged-in pro” “The selective e-tailer” “The hesitant holdout” DIGITAL SCORECARD Company economic perfor-mance/ digital enterprise self-assessment questionnaire ▪Revenues – total and online ▪EBITDA ▪Use of digital Customer survey ▪Customers’ online sales ▪Customers’ offline sales, directly generated or influenced by online (ROPO effect) ▪Customers’ preferred online sales channel ▪Customers’ online searches Social media and online mentions ▪Social media reach and activity ▪Buzz volume and mix 40 indicators, monitored along the Consumer Decision Journey steps, clustered by: ▪Reach ▪Search ▪Site usability ▪Brand interest ▪Site usage ▪Online success ▪Customer experience
  • 11. Digital Luxury Experience 2013 Keeping up with changing customers Effective digital strategies vary by brand and category To allocate digital investments wisely, we must choose the right metrics to monitor and then determine which responses will deliver the most impact. Our research suggests that the most useful indicators come from four main sources: • OMEX1 online marketing metrics along the “consumer decision journey,” from awareness and consideration to purchase and loyalty • Social media and online mentions • Customer feedback from surveys and other sources • Economic performance, including revenues, earnings and digital traffic Gathering numbers is not enough, of course. Effective responses to what the metrics reveal vary according to each brand’s digital archetype and product category. Companies can be divided into three archetypes: “plugged-in pros,” “selective e-tailers” and “hesitant holdouts.” Plugged-in pros have a diversified retail strategies including mono and multi-brand stores, and they use every form of digital communication, from social media to e-tail and bricks-and-mortar stores. Selective e-tailers maintain tight control over mono-brand sites only, and use digital entry points for aspirational customers. For them, digital is mainly a marketing channel, and they sell only entry-level products online. Hesitant holdouts are smaller companies and retain tight control of all retail, selling from mono-brand stores only. For them, digital platforms are showrooms only. Each of these retailers should use a unique, sophisticated dashboard to track dozens of digital metrics, from awareness through loyalty, and compare them to industry-specific benchmarks. Companies in each category can then identify which indicators correlate most closely to digital impact at each step in the purchase journey. For certain brands, driving website traffic may improve awareness more than any other tactic, while average pages per website visit may be the best measure of consideration. Facebook mentions may say more about loyalty than any other easily available metric. 7 2 1 Online Marketing Excellence, McKinsey-Google proprietary benchmark
  • 12. Exhibit 7 Example of impact of different digital KPI’s on sales increase Customer decision services steps Awareness Digital KPI’s Correlation with sales increase Traffic rank Total number of organic keywords Total number of paid keywords Google page rank Average Pages per Visit Average pages per usage day Average pages per visitor Customers trust of official website info Indirect e-commerce Searchmatics paid search visibility score Sum of referring domains Sum of backlinks Number of Facebook talking abouts Average usage days per visitor Total number of Twitter links Buzz volume 0.2 0.2 0.1 0.3 0.3 0.5 0.8 0.9 0.2 0.1 0.3 0.8 0.2 0.2 0.1 0.4 Conside-ration Purchase Loyalty Exhibit 8 Example of actions to improve priority indicators Area of impact Awareness Priority KPI Examples of specific actions Traffic rank Total number of organic keywords Conside-ration Purchase Loyalty Improve search visibility: optimize SEO/SEM programs, mobile-specific search, etc. Average pages per visit Average pages per usage day Leverage e-mail marketing: follow up e-mails with promotional offers/events based on visitors segmentation, observed searches Enhance website design: change page layout, placing/naming of links, colors, scaling of pictures, location of offers, etc. Indirect e-commerce Searchmetric paid search visibility score Differentiate online presence on multi-brand e-stores Number of Facebook talking abouts Average usage days per visitor Boost semantic/graphical attractiveness of social media activity: e.g. – Add image links to talks/posts/tweets (engagement rates 2x higher than without image links) – Talks/posts/tweets that contain less than 100 characters generate 17% higher engagement than longer talks/posts/tweets
  • 13. Digital Luxury Experience 2013 Keeping up with changing customers None of the indicators works in isolation, of course; they all affect the others. Increasing the number of Twitter followers and Facebook friends tends to drive website traffic, for example. Once a company has identified the most important indicators of digital success, it can take action to move the needle in those areas. To increase consideration, for example, the marketing team may send more promotional offers by email. The web design team may improve the site design to make it more appealing, thus raising average pages per visit. Both metrics are easy to track weekly, allowing managers to test and fine-tune different approaches. Just as each luxury shopper is unique, each brand has its own DNA and style. What works well for one company may not work for the customers or employees or another. But knowing your organization’s brand archetype can help reveal which metrics to use and how to compete effectively in an increasingly competitive digital universe. Each archetype has its strengths and weaknesses, and each can benefit from different digital strategies. 9
  • 14. Exhibit 8 Use of digital is still a very early stage across most functions Based on survey across more than 50 companies sample Stable Improving Strongly improving Expected trend Functions Levers Business admini-stration Virtual training Internal employee collaboration Digital recruiting Wholesale Sales force automation Collaborative uplift forecasting Retail stores compliance Marketing/ category mana-gement Big data pricing, promo, and assortment E-category management New product/store launches Digital marketing strategy/ spending opt. Digital marketing execution Digital marketing consolidation Sales and channel mgmt Enhanced in-store customer experience Direct e-commerce (owned channel) Indirect e-commerce (third parties) Operations E-procurement and e-sourcing tools In-store labor optimization 3D prototyping and printing Digital devices and analytics in prod. End-to-end traceability Data-driven demand planning Offering design Collaborative insights generation CLM/Omni-channel data management Digitally enabled new offering Performance heat map Not present Testing Deploy-ment Full scale 1 2 3 4
  • 15. Digital Luxury Experience 2013 Keeping up with changing customers Digital tools can help connect people and information within the organization. To boost sales and earnings, each luxury retailer should invest in one tailored set of digital tools to reach shoppers—and another set to connect people and data within the organization. Digital communication can create value across a company’s full value chain. Access to big data can provide powerful new insights to marketing and category management, for example, improving pricing, promotion and assortment to drive revenues and earnings. Digital connections with wholesalers can allow sales force automation and collaborative forecasting. Digital tools like e-procurement, 3D prototyping and end-to-end traceability can improve operations functions. 11 3
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  • 17. Digital Luxury Experience 2012 From customer experience to impact About the research Digital Luxury Experience 2013 is the second report produced by the Altagamma- McKinsey Online Observatory, a collaboration between the Altagamma Foundation and McKinsey Company. This report synthesizes a wider research, covering in detail a complete spectrum of digital impact drivers and key success factors along three main elements: Personal luxury goods digital market. Digital market has been analyzed though a bottom-up approach, gauging current online sales of more than 300 companies, foreseeing future outlook with price segment, channel and geographical breakdown. Online luxury consumers behavior. To better understand the market and consumers, the 2013 report is the product of a broader research base than its predecessor: 3,000 consumers interviewed in 6 major luxury markets — Germany, France, Italy, the United Kingdom, the United States and Japan. Company digital performance benchmark. More than 300 global luxury goods companies have been clustered in 12 product categories, in order to allow correct comparison among peer groups. Digital brand performances have measured some 700 websites, with more than 70 indicators along the following dimensions: social media and buzz volume, Digital Customer Decision Journey steps, website usability, digital investments, organizations and capabilities. Methodology, analyses and findings have been developed and syndicated by the Digital Luxury Experience Advisory Board, composed by senior executives from 15 leading global luxury brands across a range of categories. The Board provided feedback and scrutiny, shared their views on market trends, and suggested new areas of analysis. 13
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  • 19. Contacts Linda Dauriz linda_dauriz@mckinsey.com Ambrogio Michetti ambrogio_michetti@mckinsey.com Nicola Sandri nicola_sandri@mckinsey.com Andrea Zocchi andrea_zocchi@mckinsey.com February 2014 Copyright © McKinsey Company, Inc. Italy For additional contents about the research please visit the Mobile Site www.digitalluxuryexperience.it DLE