{"id":5359,"date":"2019-09-06T15:23:34","date_gmt":"2019-09-06T14:23:34","guid":{"rendered":"https:\/\/www.argonandco.com\/luxury-goods\/"},"modified":"2025-02-11T12:53:02","modified_gmt":"2025-02-11T12:53:02","slug":"luxury-goods","status":"publish","type":"page","link":"https:\/\/www.argonandco.com\/us\/industries\/luxury-goods\/","title":{"rendered":"Luxury goods"},"content":{"rendered":"

Luxury goods<\/h2>\n

While the luxury goods industry is benefiting from increasing global demand, it is also having to adapt to clients\u2019 changing expectations: consumers have a growing taste for novelty, customization and a fluid, customer-oriented omnichannel experience, as well as increasing expectations that companies take responsibility for social and environmental issues in relation to their business.<\/p>\n

Challenges in the luxury goods industry<\/h2>\n

These market evolutions are driving the traditional luxury goods industry towards business transformations in order to stay competitive. There are particular challenges including a need to improve attractiveness through faster product launches and total customization. This requires reinventing product development processes including 3D conception and \u201clean\u201d cycles. Luxury goods companies also need to transform effectively to omnichannel retailing, offering custom-fit services guaranteeing a perfect fluidity between channels.<\/p>\n

Other challenges include optimizing collection management (control of breadth and depth) through a location-based assortment approach, relying in particular on merchandise planning and data science tools. There is an urgent requirement to be more socially and environmentally responsible through transparency in production processes (especially in low-cost countries) and the reduction of greenhouse gas emissions (IOT traceability, low carbon transportation technologies etc). There is also a need to counter demand volatility and consumer versatility and to avoid soon-to-be forbidden product destruction, driving them to develop predictive technology and supply chain agility.<\/p>\n

How we can help the luxury goods industry<\/h2>\n

We collaborate with our luxury clients worldwide, along the entire value chain, to guide them in their transformations. For example:<\/p>\n

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Process re-engineering<\/h4>\n
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