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Retailers With Relationships

Bergdorf Goodman and Barneys New York were lauded by high-net-worth consumers for being the most effective at maintaining salesperson-to-customer relationships in comparison to other high-end retailers, according to a new report by the Luxury Institute.
The 2012 Luxury Customer Relationship Index survey of U.S. consumers found that while salesperson-to-customer relationships are neglected in the luxury sector overall, the categories that came out on top in terms of participants’ perception of these relationships include watches, jewelry and men’s ready-to-wear. Furthermore, 70 percent of those surveyed who interact with a specific salesperson said that this relationship causes them to spend more both in-store and online.
“The customer conversion and customer retention rates are very low right now in the luxury sector, so there is a huge opportunity to not only convert but retain customers, especially now with the slow global economy,” said Milton Pedraza, CEO of the Luxury Institute, New York. “There is a huge opportunity to cultivate relationships even through the hard times.”
The latest Luxury Customer Relationship Index surveyed consumers with at least $5 million in assets and $200,000 in annual income.

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