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Excerpt : One of the fastest growing industries in the United States today is the pet industry. The industry as a whole has increased 20% over the past 5 years and is projected continued growth in the upcoming
Pet owners are now professional couples who are opting for pets versus children, retired couples and empty nesters. All with disposable income to spend on their furry little friend.
The fastest growing category with the most opportunity for growth is luxury
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For pet retailers, it is important to understand what the expectations are of the luxury client. Who is the luxury client and what is it that they have come to expect?
The luxury client shops at Chanel, Gucci, Luis Vuitton, Prada and Neiman Marcus to name a few. She stays in 4 and 5 star hotels. She eats at the finest restaurants. She wears designer and she shops designer boutiques because of the
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1. Know her name when she enters the store. Make sure that you and your staff know and understand her lifestyle. She expects service and expects to be waited on. 2. The luxury client expects to work with knowledgable fashion oriented sales associates that understand how to sell a luxury product and are knowledgable in features, advantages and benefits. These sales associates also have an appreciation for luxury items and often purchase for themselves. Associates such as these are seen as credible sources to these clients.
3. Luxury is about an experience. The experience takes them away from their everyday
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4. Merchandising a luxury product involves a clean presentation of the merchandise that is dust free and featured beautifully in the boutique. Lighting that highlights the product is critical to enhancing the shopping experience.
5. Follow through and communication with the client is paramount. This would include a thank you note after she purchases or stops by the store. Calling her when new product arrives. Calling her on her birthday, knowing important events in her life such as her
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Most importantly, understand what designer products mean in the pet world. A handbag pet carrier for example should have an average price point of $600.00+. www.designerpaws.com features carriers made of 100% Italian leather and are handmade. In pet clothing, an average price point of over $150.00, and pet beds should be at an average price point of over $400.00. Too many vendors are promoting designer products which in reality are poor in quality and construction and are priced well below a designer price point. Be cautious of
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Hedy Woodrow is the CEO of Designer Paws International. Prior to starting her own business. Hedy spent 20 years in the luxury fashion business as a Senior Vice President of Retail for a major luxury brand. Her insights come from personal experience both as a leader in the fashion industry and as a client. Her website at www.designerpaws.com features luxury products that are unique to the pet industry.
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