Liberty of London Case Solution
The strong brand proposition of Liberty is aligned with its strategy of refreshing the website and logo, as a mean of appeal to the national as well as the international customers alike. The new identity tends to embody refinement, archaeology and craft and provides the shop with a renewed confidence.The change in the customers’ behaviour is requesting the firms to embrace the virtual customer service, live streaming, & social shopping and presenting several challenges to fashion players, such as: digital re-calibration, high customer expectations scrutinize newness, price, convenience and quality.
In the wake of the current pandemic; the fashion players are seeking to couple the enhancement in productivity with the required innovation efforts, such as: analytics-driven decision making, the automation of production, reorganization for greater agility as well as a review of the Omani channel footprint.The factors which are influencing the positioning of the fashion players include: price premium,rarity/ quality of raw material, product exclusivity, personalization and service and exclusivity and quality of point of sale.
Summary of the current Liberty brand proposition and identification of key consumer trading challenges in the ‘new normal’
Liberty is the example of the company with strong brand identity and value driven from the top to bottom. Liberty is the synonym of sophistication and luxury. Driving the meaning ful experience & benefits to discerning customers is what drives the uniqueness and innovation-across the company. In the wake of the global pandemic; the Liberty sails ahead with refurbishment and rebranding. The core brand proportion of the company is that it has authentically and sensitively redrawn more streamlined or new logo and has begun restoring the flagship with 1550 antique stained glass window.(Conti, 2020)The company has accelerated its efforts on rebranding and re-launching the e-commerce site. With refreshing the website and logo; the company aims to appeal to the national as well as the international customers, alike. The new identity tends to embody refinement, archaeology and craft and provides the shop with a renewed confidence. By announcing a new brand identity and website; Liberty has attempted to promote the overall goals of the business, build trust and customer recognition and lead in the market characterized by the intense competition, which is further intensified by the global pandemic.(Clark, 2020)
Naturally, the immediate responses of customers to Covid-19 crises saw digital platforms becoming the point of sale choice of majority of the customers. As a consequence of the quick transition to home-working & a locked-down high street; the mind-sets of customers have changed, along with their shopping behaviours. Given the new normal, the customers are increasingly seeking for brands that better aligned with their morals and beliefs with a focus on conscious-product. The video consumption has skyrocketed during the global pandemic and a significant increase in media consumption is witnessed. Thus, the brands-could exploit the unique opportunity with younger generation, with little distractions through video content focusing authentically over high production values. Furthermore, the new outlook on economic asset tends to cause many shoppers to focus on deal seeking, i.e. looking for offers and promotions and cheaper brands. Also, the customers are seeking to buy from brands that are addressing the Covid-19 concerns and are focusing on their needs during the difficult times. The digital adoption soared amid the crises, with brands that are embracing the virtual customer service, live streaming, & social shopping. Hence, the shift in the consumer behaviour represents-several challenges to the fashion players, such as: digital re-calibration, high customer expectations scrutinize newness, price, convenience and quality.
Identification of macro consumer behaviours & exploit opportunity to lead the market
The macro consumer behaviour is created by social concerns and a shift in consumer behaviour is followed within the social dimensions. The changes in the spending pattern of customers and the greater use of the touch points of e-commerce for shopping vs several digital platforms, namely: social media, official site of products and mobile platforms have been extensively used by the customers during the pandemic crises, which in turn has led to the digitization in purchasing & such digitization of the shopping journey of customer tends to increase the weaker presence of the shopping malls and outdoor advertisement due to the physical distancing rules. Such technology platforms driven by the social factors are predicted to play an inevitable part in terms of creating awareness, transaction & customer retention post-Covid-19 (Deloitte, 2020). The consumer behaviour could be better understood by using digital data-gathering and monitoring the techniques, such as:artificial-intelligence-driven message boards, social media listening and mobile diaries to understand the contextual cues and emerging behaviours. The consumers have become less predictable, more discerning and more demanding in their purchase decision, which tends to be radically shaped by the new and advanced technologies.
The change in the customer buying pattern driven by the digitization in buying, rise of social media, digital acceleration calls for the meaningful and convenient online shopping experience have provided an opportunity for the fashion players to communicate and interact with customers digitally and to offer them seamless shopping experience. The market players in the fashion industry could seamlessly turn inspiration into the customer’s Omni channel journey with smart in-store solutions, personalized recommendation engines and AI-powered visual search and investment in hybrid spaces &deployment of technologies, including: body-scans and apps in order to create a satisfying and compelling experience. Furthermore, the wider industry players could data analytics and automation to produce on demand in order to react rapidly to the changing trends. By doing so, Liberty would be able to interact and communicate with its customers and fulfil their needs as a part of the long term sustainable strategic opportunity.
Identification of innovative practice that can address the consumer need
Amid the global crises; the fashion players including Liberty, could exploit and capture the opportunity of using the Augmented Reality (AR) that would overlay information as well as virtual objects in real-world scenes. It is one of the growing trends among firms involved in business application and mobile computing, in particular.
Furthermore, the usage of augmented reality technology would help the customer sin virtually trying on the clothes. Being the fast-evolving immersive and most accessible technology; the company would effectively engage with customers, because this technology tends to engage the customers by 66%. Also, this technology gives a greater confidence to the e-commerce customers regarding product & its quality before clicking “buy” which in turn makes them more confident to pay the premium…………………..
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