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Your assignment is to prepare and submit a paper on fashion. The paper "fashion - customer service can help in build the loyalty of a brand" talks about how the customer service can help in build the
Your assignment is to prepare and submit a paper on fashion. The paper "fashion - customer service can help in build the loyalty of a brand" talks about how the customer service can help in build the loyalty of a brand. The luxury fashion retailing sector of Hong Kong is exceptionally well developed hence one of the fashion capitals of Asia. The fast growing expenditure from Chinese tourists has turned Hong Kong into a regional distribution hub for popular designer brands around the world, providing a great variety of high-end fashion brands and luxurious products in the market. With the Chinese tourists continuing to pour in, the product demand is high. Many high-end retailers try to provide extra services to retain their customers. Top brands try to find ways to capitalize on the buying interest of their customers and provide quality customer service due to the limited space. Besides globalization, many prestigious retailers are turning their focus to generating a greater profit from their existing customer base by developing brand loyalty. Such ideas are also backed by a number of researchers. Homburg, Koschate & Hoyer (2005) stated that brands were benefited from brand-loyal customers due to repeated patronage and their tendency to pay premium prices for additional services. The findings of Graner and Sterling (2003) further strengthened the incentive for retailers to develop brand loyalty as they found that retaining 5% more customers would boost profits by 25% to 125%. Quality customer services provided by the business are essential.