Increased connectivity means enhanced communication for all, and for the first time ever, consumers have access to a whole new set of purchase drivers: What level of customization does the company offer? What kind of corporate citizen are they? How integrated are their online and brick-and-mortar experiences?
This Friday, October 28th marks Stern's 5th Annual Luxury & Retail Conference. The conference theme this year, "From Retail to Me-tail: Delivering to the Connected Consumer" will explore how evolving technological platforms have transformed consumer behavior, and more importantly, what retailers and luxury goods manufacturers are doing to keep up with the trend.
It's partially a factor of choice. Just think how agonizing picking classes can be as we all strive to assemble the perfectly balanced yet mildly challenging course load. Would we have this power without the ability to crowd-source our friends' suggestions via social platforms or spend hours perusing an online course catalog? Maybe, but technology certainly makes it easier.
The Luxury & Retail Club is seeking to broaden the conference's mission and appeal by delivering a diverse set of speakers from all walks of the retail and luxury goods industries. The conference kicks off with an opening keynote speech by Karen Katz, CEO of the Neiman Marcus Group. Ms. Katz oversees the strategic direction, operations, and expansion of The Neiman Marcus Group, a omni-channel retailer renowned for its specialty retail stores, including 41 Neiman Marcus stores, Bergdorf-Goodman in New York, the Last Call Off-Price division and CUSP; as well as Neiman Marcus Direct, the company's online and direct-to-consumer business. In fiscal 2011, company sales exceeded $4 billion.
Following Ms. Katz' opening speech will be the "C-Suite Spotlight" panel featuring CEOs and Presidents from Patron Spirits, Warby Parker, alice + olivia and Exhale Spa. During this panel, which will be moderated by Professor Herb Kleinberger, participants will discuss how they've adapted their businesses strategies to address the somewhat fickle Millennial customer.
"I want conference attendees to know that whatever their interest is in the retail industry – from entrepreneurship to marketing and even sustainability and finance, there is something there for them," said Kanan Bhatt, one of the Conference Chairs. The conference will also feature targeted breakout sessions, each highlighting a pressing topic facing retailers and luxury goods manufacturers. Topics include sustainability and sourcing initiatives, effectively leveraging digital media strategies and expansion into developing markets. Speakers form L'Oreal, Rue La La, Indego Africa, and Avon will be represented. Immediately following, conference attendees will have the opportunity to engage Stern alumni, recruiters and industry professionals in a conversational roundtable setting.
Carol Hamilton, President of the Luxury Products Division at L'Oréal, will close the conference. Ms. Hamilton has been with L'Oréal 27 years. In her three years at the helm of L'Oréal Luxe, she has focused on elevating the customer experience at retail with customer relationship management, plus advancing the division's digital expertise.
The conference will conclude with an Asti-sponsored cocktail reception allowing guests to mingle and taste a set of featured "Wines of Piemonte," courtesy of Consorzio dell'Asti D.O.C.G., Consorzio Tutela Brachetto d'Acqui D.O.C.G. and Consorzio Tutela del Gavi. On the way out, attendees will take home one of the conference's signature gift bags, featuring products from Georgio Armani, L'Oreal, AHAVA, Xela Aroma, Condé Nast, Tribal Societé and much more.
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