Samenvatting

This research justification aims at explaining the importance of the local customers for Bvlgari, Place Vendôme and how to recruit and retain them. The luxury industry is very competitive and the business needs to face a stiff competition. Innovation and development are keys and therefore, the shop needs to address the question of the local customers. In order to highlight the reasons and the different possibilities to tackle this challenge a company and product analysis have been made. Furthermore, the research has been approached and each step of the process have been detailed. Several interviews have been conducted and the results will be explained in this report.
Disclaimer: due to a strict confidentiality policy at Bvlgari, detailed financial figures couldn’t be shared, therefore only percentages were used and the tables are not added to the appendices.

After working at the shop and observing the situation, we can firmly affirm that the people working at the Bvlgari shop located Place Vendôme in Paris want to know: How to recruit and retain local customers? This is the major challenge that needs to be addressed. The Return on investment is both short-term and long-term. In fact, by improving its strategy the shop will directly notice the results which will last over time and will help the business to prosper on a longer term.
To conduct this research and point out where is the problem and what are the solutions, we worked with the sales team, the manager of the shop and the people working at the head quarter. By running some desk and field research, we were able to highlight and analysed important data, crucial to deliver a professional and complete report.
Thus, the Research question is the following: How to recruit and retain local customers at the Bvlgari shop located Place Vendôme in Paris, France?
Some of the sub questions could be the following:
1. What is the impact of the local customers ‘buying behaviour on the turnover of the shop?
2. What actions could be taken to retain this target group?
3. How can we increase the number of local customers?