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Sustainable Luxury: Retail Event Planning for Louis Vuitton Stores in Canada

2021-08-24 来源: 51Due教员组 类别: Essay范文

51Due教员组今天给各位留学生带来一篇纯原创代写商科范文。本报告旨在通过可持续的奢侈品方法,通过讨论奢侈品零售业面临的机遇以及日益全球化和快速发展的数字技术带来的威胁,为位于加拿大的路易威登商店提供独特的活动规划,以吸引更多的消费,从而为奢侈品零售管理者制定销售策略提供新的视角。

希望这篇可以帮助到各位留学生,同时需要代写也可以直接联系我们51Due客服vx(vx:Jenny_dynh)进行咨询。


Transmittal Letter

This report aims to provide a distinctive event planning via a sustainable luxury approach to attract more consumption for the Louis Vuitton stores located in Canada, by discussing the opportunities facing the luxury retail industry as well as the threats with increasing globalization and rapidly developing digital technologies, so as to suggest a new eagle of view for the luxury retail managers to develop their sales strategy.

Canada, with the booming tourism industry, advantageous Canadian dollars, and affordable rent, has become one of the most attractive places for luxury brands to enter. In this way, the competition for luxury brands stays fierce. Louis Vuitton Moët Hennessy Group that includes over 70 luxury brands has also maintained Canada as their must-win market share. Louis Vuitton, as the group’s most representative brand, recognized almost as the most creative and innovative luxury brands, has inevitably shouldered the responsibilities to expand the market while not to lose its exclusivity. Meanwhile the Millennials and Generation Z consumers drive the major growth of luxury retail, which requires brands to align with their values and beliefs. With an increasing sustainability concern among the young consumers, the luxury brands shall be reminded to provide events with a sustainable conscious.

1. Executive Summary

As one of the leading luxury brands, Louis Vuitton has witnessed an exceptional growth in sales as its new collection the Masters came to the air in 2017. While exploring the sources of revenue, it demonstrates that the 35% group revenue comes from the Asian market, 25% comes from the U. S. market, 29% from Europe and 11% from the other markets (LVMH, 2017). Among which, Canadian market as part of the other markets, requires Louis Vuitton to put more focus to seize sales opportunities inside.

Nowadays, luxury consumers have faced more abundant choices of buying approaches with the fast development of online and mobile shopping. Simply carrying the products home can no longer fulfill the consumers – they focus more on the interesting and memorable shopping experience that can pull their attention off their mobiles. Hence traditional luxury selling strategies may not work out in this occasion, forcing the brands to plan and organize more unforgettable and unusual events in physical stores, to impress the consumers from time to time. This report proposes a sustainable offline event solution for Louis Vuitton, with a customer target to mainly the Millennials and Generation Z. Sustainable event would refer to a series of marketing activities that are environmental friendly and social responsible. This report will examine the current retail environment for Louis Vuitton, with SWOT analysis, and further discuss how the brand could fulfill customers’ expectations of interesting and unique shopping experience with a series of sustainable offline events.   

2. The Customer Analysis

Today the customers are more technology savvy and digital addicted (Ghelani, 2018). The Millennials (born between 1981 and 1994) and Generation Z (born between 1995 to 2010) drive 85 percent of the luxury sales growth (Beauloye, 2018). It is estimated that digital shopping has completely changed the luxury consumption, as by 2025, 25% of the personal luxury goods sales will finish online, compared to the 8% in 2016 (D’Arpizio and Levato, 2016). Although as surveyed, digital shopping has increasing percentage in sales revenue, brick-and-mortar outposts still have the most effects on customers’ final purchase decisions, as consumers would prefer to see and touch the products in real life with basic human communication and interaction (McKinsey, 2015).

In addition, sustainability has become an important concern among Millennials. As Nelson reviewed that, around 73% of the Millennials are willing to buy products or brands that have sustainable or social conscious (Nelson, 2015). And 81% of the Millennials cares about if the brands they buy into have transparent marketing and other activities, in terms of their sustainability effects. In this way, it may bring Louis Vuitton a responsive market if sustainable event can be held.   

3. The SWOT analysis

The SWOT analysis mainly focuses on the opportunities and threats within current retail environment for Louis Vuitton to hold sustainable events, so as to lay the foundation for the philanthropic event planning philosophy.

 

Figure 3.1 The SWOT Analysis of Louis Vuitton

Strength:

Brand reputation

Creativity and innovation capability (LVMH, 2017)

Strong financial backup

Opportunities:

Increasing sustainability awareness

Booming tourism

Depreciated Canadian dollars

Affordable rent (Ghelani, 2018).

Weakness:

Lower presence in philanthropic luxury events compared to competitors eg. Valentine (Chang, n.d.).

It is hard to maintain fully transparent and sustainable during the marketing and in-store activities

Threats:

Consumers are harder to appeal with a more complex demand

The Canadians have lower luxury demand (Ghelani, 2018).

 

4. The Sustainable Event Planning Description

Louis Vuitton has collaborated with Jeff Koons to publish the Masters Collection, which recreate masterpiece by renowned paintings on bags and accessories (LVMH, 2017) (see Figure 4.1). Inspired by the auction process in buying master paintings, Louis Vuitton is suggested to launch a philanthropic auction in pop-up stores, while the items for auction would be the limited edition version of Louis Vuitton products, from leather goods, accessories, to shoes and jewelleries. With each deal proceeded, a certain percentage of auction price will be donated to help children and women in poor regions. After the auction, the pop-up store is opened for exhibition, with environmental-friendly material made products.

Site selection:

The first site can be selected as Toronto, which enables the event could obtain much attention and traffic. It could utilize the idea of pop-up stores (Figure 4.2), which is quite popular in the fashion industry among consumers. Louis Vuitton could decorate its pop-up stores to be social or environmental sustainable with the appearance as a fantastic auction house, where consumers can have enough space to talk and walk around as well. The space will be decorated as gallery inside with precious edition of Louis Vuitton past and new hands craftwork being exhibited.

Major activities:

During the first day of the event, the philanthropic auction is held inside the pop-up stores, with only invitation allowed to enter. The VIPs are invited and could enjoy an exclusive exhibition with limited products, a fabulous fashion show with environmental-friendly theme, and join for a special auction involved a series of Louis Vuitton limited edition products ranging from accessories to leather goods, and shoes to jewelleries. The guests could take a nice glass of wine, a dedicate meal, and enjoy the exhibition of past and new collections that are iconic or special for LV with soft classy music. The auction would last for 2 hours, with 50% of the donation amount for the children and women who suffer from hunger and unsecure water source in poor regions such as Africa and Asia.

VIP consumers are invited to participate in the limited auction, and on the other hand the auction house is also open for ordinary customers, especially the Millennials. After the day of auction, the pop-up house would exhibit a series of products made of abandoned materials, rather than normal leather skin or other ordinary materials. The exhibition would transmit the sustainability message to audience that the brand has strong willingness to be a social and environmental responsive company.  

 

Schedule:

The activities would last for two months, with detail arrangement as below:

Figure 4.1 The Planned Event Schedule

1 April 2018 Morning

Exclusive Exhibition starts

1 April 2018Afternoon

Environmental-friendly Theme Runway show

1 April 2018 Evening (8:00-10:00PM)

Limited Edition Auction

2 April, 2018 to 31 May, 2018

Exhibition open for ordinary customers with free fees


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