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Luxury retail has undergone a significant transformation driven by digital technology and changing consumer expectations. Luxury brands have been forced to innovate quickly to meet changing consumer preferences due to the COVID-19 pandemic, which has accelerated the adoption of these technologies.
Such shifts in the market can be caused by a variety of factors, including consumer trends, technological advancements, or new government regulations. By making these adjustments, businesses can ensure they’re able to meet customer needs while optimizing inventory levels and supplychain efficiency.
If your product isn’t easily found by consumers, it might as well not exist. Share of search refers to the proportion of searches for your product or brand compared to the total searches for a given keyword on a retailer website. Studies show that the vast majority of consumers don’t look past the first page of search results.
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