BMW organized an event to celebrate the opening of the company’s first Brand Store in Paris. Located in a fancy neighborhood, in the Avenue George V, and signed by Eric Carlson, a world renowned architect that specializes in luxury brand architecture, the store speaks nothing but prestige.
The store is just the starting point of a new business strategy that BMW Group refers to as the future of retail, which is in the process of implementation. According to Ian Robertson, Member of the Board of Management of BMW AG, sales and marketing BMW, the nature of retail has changed, and that implies a rethinking of sales strategies by the company:
“… Customer behaviour, needs and expectations have changed, as well as communication technology. As part of our corporate Strategy Number ONE, we critically reviewed our processes and customer feedback. We will now build upon our strengths and implement a comprehensive programme named Future Retail. This will entail a whole range of initiatives and tools designed to enhance the customer experience and to set new standards for retail in the automotive industry and beyond,” Mr. Robertson said.
BMW’s Future Retail consists of three objectives – increment of contact points between BMW and customers, increase of services and benefits available at retail stores, and enhancement of the overall retail experience for the customers. The completion of the objectives will result with new BMW and MINI retail formats, various initiatives that include social media activities, a refreshed presence on the Internet and more appealing showrooms. Interactive platforms such as virtual product presentations are already rolling out in BMW showrooms in London, Munich and Zurich.
As a part of the strategy, BMW is also introducing so called “Product Geniuses” – roles assigned to dealers that will enhance customer support. Product Geniuses will have to be mobile and equipped with a sophisticated Information Management System installed on a tablet device. Thanks to the System, dealers will be able to explain features of BMW products to customers more easily using visuals and films.
Opening of the Brand Store in Paris was clearly an indication of a big rethinking going on in BMW’s marketing department. Let’s see what else will they come up with in the near future.