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Gucci is trying to expand its target market as millennials under 35 now account for 62% of sales and Gen Z under 24 is the fastest growing segment. Gucci faces threats from luxury competitors like Dolce & Gabbana and Louis Vuitton. To stay innovative, Gucci finds a balance between creativity and technology which has improved the shopping experience through investments in areas like supply chain management and voice assistants for salespeople. Gucci is considered one of the most expensive brands worldwide due to the high quality of its clothing, shoes, handbags, perfume and jewelry which are promoted through stores, websites, magazines, celebrities and social media.

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71 views1 page

Written Assignment 2

Gucci is trying to expand its target market as millennials under 35 now account for 62% of sales and Gen Z under 24 is the fastest growing segment. Gucci faces threats from luxury competitors like Dolce & Gabbana and Louis Vuitton. To stay innovative, Gucci finds a balance between creativity and technology which has improved the shopping experience through investments in areas like supply chain management and voice assistants for salespeople. Gucci is considered one of the most expensive brands worldwide due to the high quality of its clothing, shoes, handbags, perfume and jewelry which are promoted through stores, websites, magazines, celebrities and social media.

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miled
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Written Assignment 2

Gucci

Customer, Usually generation above 40 who are looking for a luxurious


high-quality brand, but 2018 statistics shows that 62% of sales generates
from millennials who are under 35, and now the fastest-growing segment is
generation Z (people that are under 24). This shows us that Gucci is trying
to expend its target market.
Company, Gucci is an Italian luxury fashion brand of apparel and
accessories including handbags and shoes.
Competitors, are high quality brand makers including Dolce & Gabbana,
Armani, Louis Viton, Channel, Yves Saint Laurent, Versace, Balenciaga,
Burberry.
Context, Threat always comes from the competitors, that’s why Gucci is
trying to be more innovative by finding a delicate balance between creativity
and technology. This has helped to make the shopping experience smoother
and more effective. Gucci has also introduced technology into their supply-
chain, sales forecasting, merchandising and voice assistant for in-store
salespeople. All this has given the customer a new experience. Opening a
futuristic factory brought in artisans to create products by hand.
Price, Gucci is considered one of the most expensive and luxurious brands
worldwide because of the high quality of its items. Price is considered as
premium.
Product, Gucci supplies supplying qualitative products including Clothes,
Shoes, handbags, perfume, jewelry. Designs are considered innovative,
precise and sophisticated.
Place, Gucci stores and online website. Gucci has made massive
investments in state-of-the-art technology on the back end of the business,
including supply-chain management, sales forecasting, merchandising, and
voice assistants for in-store salespeople (Elizabeth Segran,2019).
Promotion, TV, Magazines, Billboards, Website, Social Media, Futuristic
stores. The company also uses stars names on their brand like the “JACKIE
O” handbag. They also have a list of affluent celebrities and international
clients associated with the brand.

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