5 Fascinating Jobs in the Luxury Goods Industry
The 100 largest companies in the luxury goods industry achieved a staggering turnover of $217 billion in 2016. The luxury goods industry is a highly dynamic market, especially the cosmetics and perfume sector. Moreover, it offers a wide variety of rewarding jobs. Find out more about the most fascinating jobs in the luxury industry below.
Brand Manager
The brand is the cornerstone of the luxury goods industry. Customers purchase brands before buying products. The brand equity determines the success of luxury areas such as fashion, jewelry, perfume.
The role of a brand manager or brand marketing manager is to set up the brand strategy. His goal is to increase the brand’s visibility and reputation and consolidate brand equity.
The brand manager also analyses customers’ uses and needs, defines objectives and targets, and implements the brand strategy. He often manages communication or marketing teams.
Qualities: Management skills, creativity/innovativeness, fluency in English, communication skills
Retail business analyst
The role of the retail business analyst is to recognize, identify, and analyze customer habits and business data, recommend new processes and business approaches, and improve marketing plans. A retail business analyst uses quantitative data, collects information, and proposes solutions to boost the retail business.
The retail business analyst directly interfaces with marketing, retail operations, and IT teams. He deals with detailed analysis, process management, and communication with partners throughout the organization.
Qualities: Strong ability to analyze quantitative and qualitative data; listening, diplomacy, and communication skills
Digital marketing manager
The increased digital presence of luxury brands in marketplaces, social media, and advertising and via search engine optimization has accordingly intensified the need for a digital marketing manager. This role involves coordinating the key activities related to the progression of different product ranges within the framework of a company’s commercial policy. The digital marketing manager deftly applies the digital marketing techniques of acquisition, development, and customer loyalty enhancement.
The digital marketing manager is required to articulate customer needs and brand strategy. He closely works with many departments in luxury goods companies, including the brand and communication, sales, and R&D departments. He has solid knowledge of digital tools and stays well-informed about new technologies and digital trends.
Qualities: Creativity, organizational and management skills
CRM executive
Customer relationship management (CRM) is a vital component of a large company’s marketing strategy. The role of a CRM manager is therefore essential for managing the firm’s relationships and interactions with its current and potential customers.
The CRM manager develops the tools and strategies for improving the services and boosting the customer retention rate of a company, and ultimately enhancing customer satisfaction.
The CRM manager must deploy key actions: positioning and planning the CRM project; identifying and assessing the needs of customers; guaranteeing the satisfaction of customers; proposing tools adapted to the project, ensuring that they capitalize on the customer database and track customer information; customer service management and training that follows the operations set by the management; and measuring and analyzing the performance of the undertaken actions.
Qualities: Creativity, organizational skills, marketing and digital competencies
Merchandising executive
The merchandising manager is responsible for making decisions related to stocking, pricing, and presenting goods in retail stores. He evaluates the layout of the products in stores and corners to identify the best display and the best value. He also analyzes sales and inventory data to verify consumer preferences that help to determine the specific items to put on sale or the quantity of a particular product that the company should purchase for stocking purposes. Merchandising managers have a certain amount of creative freedom, as they often plan product displays that will attract the attention of the customers and entice them to purchase.
Qualities: Creativity, thoroughness, communication and artistic skills
If you’re interested in building a career as a brand manager, retail business analyst, digital marketing manager, CRM or merchandising executive, the MSc in Luxury Management & Marketing is the right program for you to acquire the necessary specialist knowledge to succeed in the luxury industry.
