{"id":22133,"date":"2023-03-15T07:09:40","date_gmt":"2023-03-15T07:09:40","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=22133"},"modified":"2023-03-15T07:15:30","modified_gmt":"2023-03-15T07:15:30","slug":"curated-products-have-helped-us-retain-customers-mytheresa-ceo","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2023\/03\/15\/curated-products-have-helped-us-retain-customers-mytheresa-ceo\/","title":{"rendered":"\u2018Curated products have helped us retain customers\u2019: Mytheresa CEO"},"content":{"rendered":"
The event is taking place at The Atlantis, The Palm, until March 15.<\/p>\n The company sells luxury clothing and accessories on its online platform.<\/p>\n It posted \u20ac689.8 million as revenue in 2021.<\/p>\n It has also seen 100 per cent growth since last year, and was not impacted much by the pandemic either, Mr Kliger said.<\/p>\n \u201cInflation, or the perceived idea that inflation might hit the market, is not important for luxury spenders.\u201d<\/p>\n The typical Mytheresa customers are those who are high-earners, and those who are in professional careers.<\/p>\n \u201cThey represent companies, have a packed social calendar and go on vacation often. This is a customer who constantly updates their wardrobe.\u201d<\/p>\n This means that Mytheresa needs to cater to customers in a much more personalised way.<\/p>\n The company provides personal shoppers who not only advise customers on how to dress for occasions, but also attend events with them.<\/p>\n The company collects data on understanding consumer behaviour and focuses on customers who have a high repeat rate.<\/p>\n \u201cThree per cent of our customers account for 35 per cent of our revenue,\u201d Mr Kliger said.<\/p>\n \u201cOur top customers have a lifetime spend of $1 billion.\u201d<\/p>\n Such customers \u201cappreciate if you take time out for them. That\u2019s more valuable than their money.\u201d<\/p>\n How quickly a customer\u2019s call is picked up is the main KPI for Mytheresa employees, Mr Kliger said.<\/p>\n It is important to measure the emotional impact a consumer has towards a brand, he said.<\/p>\n \u201cFour weeks after an event, we sent our customers a personalised handwritten note, with a gift reminding them about the event. When they reply to us, it helps us measure their happiness and it acts as customer feedback.\u201d<\/p>\n \u201cThat is more important than financial KPIs.\u201d<\/p>\n
\nLuxury e-commerce platform Mytheresa<\/a> has been able to retain most of its customer base, even after inflation hit the global market, the company\u2019s CEO Michael Kliger said on Wednesday at The Retail Summit<\/a> held in Dubai.<\/p>\n