How Swarovski Uses Its Digital Platform – Successful brands must do more than just promise quality products, because today’s customers expect more. Products must be personally relevant, immediately available and delivered quickly, all while being easy to travel with. In other words, marketers must match promise with delivery.
How Swarovski Uses Its Digital Platform
swarovskijewelry – One company that excels at building these relationships is Swarovski, the world’s leading jewelry and accessories brand.
Leader in omnichannel and digital retail
“Our goal is to provide a quality experience that capitalizes on our long heritage in luxury,” said Dr. Lea Sonderegger, chief digital and information officer at Swarovski. “This is an important part of our LUXignite strategy to strengthen Swarovski’s position in the luxury segment and expand its presence in the jewelery industry.”
Swarovski selected RISE with SAP and SAP Commerce Cloud solutions to bring a digital and e-commerce backbone based on SAP software to the cloud to save costs and increase efficiency.
“The foundation of the modern sales process is a 360-degree view of the customer,” Sonderegger said. “For example, our customer solutions are based on that.”
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Customer acquisition is about building meaningful relationships between retailers and customers, which is a key factor in the luxury goods industry. This is achieved by providing sales staff with real-time information based on customer profiles, including previous purchases.
“I’m excited to see how employees will use this technology in stores to enhance the customer experience,” Sonderegger said after visiting the United States, where the company is opening a new flagship store on Fifth Avenue. in New York. “This has also delivered good business results – for example, the value of tickets in our stores is now 25% higher than the VPT average.”
Sonderegger believes that it is time for IT to stop thinking about software modules and solutions and instead think about creating value. In this era of digital Darwinism, technology and society are developing faster than companies can adapt. It is important to respond to innovation quickly and strategically.
“IT is no longer just an enabler,” he said. “It must generate value by supporting the core processes of creation, production and sales. This is how digitalization becomes a competitive advantage.”
Innovation since 1895
The company has a long tradition of using innovation to remain competitive. Its founder, Daniel Swarovski, is an example of a visionary entrepreneur from the 19th century. He first learned the art of glass cutting in his father’s factory, later patenting an electric cutting machine, to speed up the production of precisely cut crystals used in jewelry, accessories, and Swarovski’s sophisticated state-of-the-art machines distinguished their crystals by their ability to make small, even cuts. emit more light and create a greater light effect. His machine, which was the most advanced at the time, allowed him to cut crystals more precisely and faster than his competitors.
Celebrities have long rocked timeless Swarovski crystals on the big screen and on the red carpet. However, Swarovski is mostly worn by women who love the allure of crystal jewelry created with incredible craftsmanship in endless cuts, colors and patterns – what Swarovski calls beautiful complications.
In addition to linking promises and fulfillment, companies can also link customer expectations to their value proposition.
Sustainability Milestones
Long before the concept of sustainability, Swarovski’s pioneering factory used renewable hydropower in its milling process. In 1907, the company built its first large hydroelectric power plant. Three turbines produce clean electricity for the factory’s cutting machines and lighting for the local community.
In 1970, when everyone started using fossil fuels, Swarovski installed its first hybrid gas and electric oven to reduce dependence on them. By 1990, Swarovski had reduced carbon dioxide emissions by 30 percent by using natural gas instead of oil to heat and melt crystals. In 2015, the company drastically reduced the lead content in its crystals to 0.004 percent.
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The way forward
Sonderegger is confident about his future. While other companies struggle with digital challenges such as not using third-party cookies, essential online advertising tools, and tracking customer behavior, Swarovski is ready to meet the challenge.
“Regulatory changes and privacy concerns are forcing businesses to find new ways to manage customer interactions and collect data without relying on third-party cookies,” Sonderegger said. “Thanks to our platform, we are ready to meet this challenge and consider it critical to our omnichannel strategy.”
Sonderegger clearly understands the threats and opportunities in his business sector. For example, artificial intelligence (AI) will undoubtedly help retailers by increasing personalization. With advanced algorithms, Swarovski is able to understand its customers better than ever, anticipate their needs and provide interactions that are conversational and human. However, artificial intelligence is increasingly being used in decision making and could eventually replace humans in many tasks.
“This raises questions about the ethical use of artificial intelligence,” Sonderegger said. These and other questions arise from possible evaluation biases in society and companies, such as banks providing loans only to certain groups of customers, to the ability to distinguish between true and false information.
Sonderegger believes that the responsibility for implementing technology lies in the hands of each company. Swarovski has three rules governing the use of artificial intelligence. First, it must support, not replace, individual creativity. Second, AI must be used to generate insights to support the decision-making process, but humans are the ones making the decisions. And ultimately, it should accompany customers on their retail journey, not burden them.
Swarovski’s long-term collaboration with SAP dates back 40 years. The company still has the old SAP Real-time Financial Accounting purchase agreement signed by SAP founder Hasso Plattner. Together, the two partners will continue to overcome current and future challenges.