Nizhny Novgorod Luxury Retail Specificity
Student: Komarov Evgenij
Supervisor: Elena V. Zinchak
Faculty: Faculty of Management (Nizhny Novgorod)
Educational Programme: Bachelor
Year of Graduation: 2014
<p>Theme: "Nizhny Novgorod Luxury Retail Specificity"</p><p>Keywords: luxury goods, luxury market, luxury segments, personalized approach</p><p>Owners of companies operating in the luxury market in Nizhny Novgorod create their business models according to the factors which determine consumer preferences and specificity of doing business.</p><p>This work is relevant to all businesses in Nizhny Novgorod segment class «luxury» because of growth occurs not only global, but also outpacing growth in the Russian luxury market by 15-20% annually. As a result, there is a situation of simultaneous entry of many brands into the Russian market because of the huge potential of the segment «luxury». To remain competitive not only Russian but also foreign trade class «luxury» business owners must determine the specificity of the luxury market , with account of companies build successful strategies and take into account all the requirements of the buyer and the boutique brand of class «luxury».</p><p>Problem is the lack of understanding on the part of the owners of the features of the luxury market and the factors that ensure the success of the shops class «luxury».</p><p>The hypothesis of this study is formulated as follows: based on Nizhny Novgorod luxury retail specificity, it is possible to identify the factors that ensure a successful shop class «luxury».</p><p>The object of study of this graduate qualification work is the main subjects of the Nizhny Novgorod interaction luxury market.</p><p>Subject of research - Nizhny Novgorod luxury retail specificity.</p><p>The purpose of the graduate qualification work is to determine the characteristics of the Nizhny Novgorod luxury market.</p><p>For this purpose, we used the following methods:</p><p>1. Analysis of the secondary data ;</p><p>2. Expert interview. Were interviewed five directors of companies operating in the segment of «luxury»;</p><p>3. Depth interviews with consumers of luxury goods, in order to determine the factors that determine preferences upscale boutiques ;</p><p>4. Mass survey of consumers of goods of class «luxury» with a view to determine the effect of attractiveness factors of shops class «luxury».</p><p>In this context following tasks were carried:</p><p style="margin-left:35.45pt;">1. Examine the theoretical bases of activity shops class «luxury»;</p><p style="margin-left:35.45pt;">2. Investigate features, problems and trends of activity shops class «luxury» in Nizhny Novgorod ;</p><p style="margin-left:35.45pt;">3. Identify the factors that influence the activity of boutiques in Nizhny Novgorod ;</p><p style="margin-left:35.45pt;">4. Examine specifics consumers the luxury market in Nizhny Novgorod.</p><p>The first chapter is devoted to the concept of product class «luxury» and the main store formats luxury. Based on theoretical data identified the main factors of success stores class «luxury».</p><p>The second chapter analyzes the luxury market in Russia and Nizhny Novgorod in particular.</p><p>The third chapter presents the factors of attractiveness shops class «luxury» for Nizhny Novgorod luxury consumers.</p><p>In conclusion, the results described of the work done and also provide some guidance on the conduct of business in the segment of «luxury».</p><p>From this study it can be concluded about the requirements that expose consumers to the luxury boutiques. Shops of class «luxury» will be successful if the following conditions are observed:</p><p style="margin-left:71.45pt;">1. Shall be provided a sufficiently wide range of luxury goods, the collection should be updated two times a year, when it comes to clothes. In addition, it is necessary to take into account the seasonality of sales.</p><p style="margin-left:71.45pt;">2. Boutique luxury goods should have enough comfortable interior design in accordance with the preferences of the target audience.</p><p style="margin-left:71.45pt;">3. Shop class «luxury» should be executed in accordance with the requirements that establish brand representatives.</p><p style="margin-left:71.45pt;">4. Most consumer goods of a class «luxury» prefer modern and creative design boutique.</p><p style="margin-left:71.45pt;">5. Stores in class «luxury» have low quality of service and lack of qualified personnel.</p>
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