Ashley Krauss - A Little Something White Bridal Couture
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Ashley Krauss, CEO of A Little Something White Bridal Couture Presentation from The Luxury Marketing Council of Connecticut-Hudson Valley's event at Tiffany & Co. at The Westchester from June 9, 2015.
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Ashley Krauss - A Little Something White Bridal Couture
- 2. • What is bridal fashion? Bridal gowns Bridal party dresses Accessories (veil, jewelry, shoes, etc.) Alterations • How do we define luxury? Those who spend more than $2,000 on a bridal gown Luxury Segment
- 3. • The average cost of a bridal gown purchase (nationally) has increased by 16% from 2011-2014 Spending has bounced back since the financial crisis but people are more value conscious • Education is required in helping brides to set their budget, which are often arbitrary • The value conundrum • Bridesmaids dress spending is flat • Brides will splurge on accessories
- 4. • Brides visit several stores before purchasing • Expectations have risen, appreciation has risen • “Not selling a bridal gown, selling an experience” • Experience is Friendliness Knowledge Flexibility The Little Things Commitment Going above and beyond Never ending • Does Experience Win? 65% 70% 75% 80% 85% 90% 95% Shopping Atmosphere Salesperson's knowledge Special offers Bridal magazines available Special events Special treatments Important Factors to a Bride When Shopping
- 5. 0% 10% 20% 30% 40% 50% 60% National Bridal Chain Independent Local Bridal Salon Department Store RTW store/website Online at e-retailer Other Finding the Gown Shopping Buying Takeaways 1. Independent stores dominate (30%) 2. Brick and mortar dominates 3. Internet used more for shopping than buying
- 6. Illusion neckline It must have some sort of strap! Nothing too full, but nothing too fitted! Lace Fit and flare or Trumpet, definitely Definitely no lace! A-line Definitely no bling! Beading Sheath Strapless Ballgown No Strapless Any fabric but satin Anything but strapless!!!! Something Unique Something Simple Something Comfortable Beautiful Back Low Back
- 7. • Strapless • Sweetheart Neckline • Lace still dominates, but seeing brides start to expand beyond this • Lighter-weight gowns • Beautiful backs • Customization
- 8. 1. What Brides Come To You For 2. Ability to customize is critical What Brides Actually Purchase Marketing Focus Here!
- 9. Before • Research: Magazines, Wedding Websites, Word of Mouth • Social media: Non-existent • Websites primitive • Purchasing done in-store Connecting with your brides done predominantly in person After • Research: Smartphones, Wedding Website, Word of Mouth • Social media: Overpowering • Websites complex, online presence reflects in-store experience • High communication expectations • Purchasing done in-store Connecting with your brides much more complex
- 10. • #1: Word of mouth / reputation • Power and Peril of Social Media • Online presence Mobile-Optimized Website The Knot Social Media Wedding Wire Blog • Quality of communication important • Collaboration with other professionals but not exclusivity • Reviews critical! • Connect with the person paying…and the guests