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In many consumer markets, companies that once relied on developing new product features and improving customer service increasingly see competitive advantage rooted in the entire experience that’s wrapped around the product. For a mortgage for example, many customers care not just about the interest rate and amortization, but also the ease and speed of the approval process, the quality of the online payment system, and the bank’s service when answering questions or resolving problems that arise over the life of the mortgage.
Europe’s food shoppers are favoring smaller stores, everyday value concepts and online shopping.
Global luxury goods sales are defying initial concerns over Eurozone turmoil and fears of a cool-down in emerging markets.
The global market for luxury products reports constant growth. Bain & Company anticipates that the international luxury goods industry will increase by total of 8 percent in 2011 to reach EUR 185 billion.
The global crisis of the luxury goods industry ended in the fourth quarter of 2009 – a year in which the sector was forced to report its first downturn in overall sales in its history.
Sales in the internationally luxury goods segment will increase by 4 percent to prospectively EUR 158 billion in 2010.
What more than 5,000 women told Bain and Vogue magazine about their buying behaviors.
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