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The retail landscape is in constant flux, and Tapestry—home to iconic brands like Coach, Kate Spade New York, and Stuart Weitzman—is at the forefront of its evolution. When Noam Paransky stepped into the role of Chief Digital Officer in 2019, the industry was on the brink of a seismic shift. The pandemic accelerated this change, prompting his expanded role as Chief Omni and Innovation Officer to mirror the interconnected world consumers now inhabit. Today’s shoppers seamlessly blend online and offline experiences. For them, it’s a single, continuous journey. Tapestry has grasped that the digital realm, especially social media and influencer partnerships, is where most brand interactions happen. Yet, the allure of luxury items like handbags continues to draw customers into physical stores, highlighting the essential interplay between digital and brick-and-mortar. At the heart of Tapestry's strategy is the AI-powered "Tell Rexy" system, a brilliant tool that harnesses the knowledge of sales associates. By transforming their real-time feedback from spoken words into actionable insights, the system offers a clear view of the sales floor. This intelligence is then shared with leadership, ensuring decisions are firmly rooted in frontline experiences. Moreover, "Tell Rexy" functions like a specialized ChatGPT, providing in-depth answers tailored to Tapestry’s specific data and needs. With luxury sales facing headwinds, digital innovation presents a golden opportunity to reignite consumer passion. The key lies in crafting emotional connections, delivering exceptional products, and creating seamless journeys across all touchpoints. Tapestry's approach—marrying data-driven insights with the artistry of luxury—showcases the power of truly understanding and responding to customer desires. In a marketplace with ever-rising expectations, innovation is the lifeblood of success. How is your business leveraging technology to meet the evolving demands of your customers? Let us know in the comments. https://lnkd.in/dbvHdxvw #DigitalInnovation #OmniChannel #LuxuryRetail #CustomerExperience #AIinRetail #BrandStrategy #RetailTech #Tapestry #B2B #DigitalTransformation #BuyerEnablement

CMOs Are Showing The Strain Of A Tough 2024

CMOs Are Showing The Strain Of A Tough 2024

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