Selfridges is 2014 Luxury Retailer of the Year
Great news for our client Selfridges! Luxury Daily, the news leader in luxury marketing in the US, has awarded Selfridges the honor of 2014 Luxury Retailer of the Year for its use of entertainment to make itself a shopping destination. Selfridges won over first runner's-up Saks and second runner's-up Net-A-Porter for its creative multichannel campaigns to draw consumers in-store and get them talking online.
The Luxury Retailer of the Year Award was decided based on luxury marketing efforts with impeccable strategy, tactics, creative, executive and results. All candidates selected by the Luxury Daily editorial team and from reader nominations had to have appeared in Luxury Daily coverage this year and judging was based purely on merit.
Below I've highlighted some of the key facts from the Luxury Daily article:
- Selfridges are continually inventing creative in-store events and engaging with consumers outside of the store to make shopping an enjoyable experience.
- They continue to invest in their multichannel shopping experience, and were an early adopter of Click and Collect, with luxury brands like Chopard, Bulgari and Cartier now taking advantage of Selfridges' unique multichannel distribution.
- Selfridges relaunched their website in October 2013 and continue to be committed to delivering a leading multichannel shopping experience with a plan to invest $64 million over the next five years. (Note: Salmon, a Wunderman Commerce Company, played a big part in the relaunch of the site, more here.)
- With 1 million visits a week online, 30 percent higher than their closest competitor, sales through Selfridges online channel have more than doubled each year since 2010.
- Selfridges gross sales in 2013 rose 10.4 percent y-over-y to $1.9 billion and operating profit was a record approximate $240 million, an increase of 12.3 percent. Its great to hear that the department store credits its international expansion and investment in multichannel for its record year.
- They aim to become the largest and most comprehensive destination for accessories, investing $465 million in this department. Selfridges claim this to be the largest investment in a single project by any department store globally.
You can find out more about why Selfridges was chosen for this award here.