Customer Experience to Support Miu Miu’s Unprecedented Success
Amidst industry-wide slowdown, Miu Miu’s 2024 sales jumped 93%. Following four consecutive years of double-digit growth, the brand now makes up a quarter of Prada Group’s business, up from 15% just a year prior.
As much as I’d like to pontificate about the value of long-term thinking, a clear vision and the power of conviction (here’s a lengthy piece on that), today’s focus is on what could be an interesting avenue to build on that extraordinary success.
How it would work
Available by subscription, integrated into Miu Miu’s digital ecosystem, an AI product advisor would build а digital twin of the client’s wardrobe by automatically logging purchases and allowing manual adding of existing pieces.
It would then be in the position to not only recommend looks based on Miu Miu star stylist principles, but also keep track of client’s preferences – learn what they choose to wear on big-meeting-days versus casual Fridays, their color choices when it rains etc., building a profile that would be of no value to a third party (and therefore safe to store), but would allow highly relevant, personalised recommendations.
Styling tips aside, the advisor would help customers maximise the versatility of their Miu Miu investments, possibly – helping them sell rarely worn items through premium second-hand etailers or trade them with fellow service users.
Potential benefits for brand
- Valuable service translates into increased customer loyalty
- Opportunity for deep customer insights & engagement
- Wardrobe optimisation promotes sustainability
- Revenue diversification & cross-selling opportunities
- AI model would empower additional services (e.g. Predictive Customer Care)
For Consumers
- Expert styling access
- Making the most of existing wardrobe
- Access to subscriber-only limited editions
- Sustainability support
- Possibly – participation in trusted second-hand market
Why it could work specifically for Miu Miu
- Miu Miu is famous for its stylists, considered part of the brand’s success story. A model offering some of that talent would have clear value to its customers.
- Miu Miu has a very distinct style that allows easy mixing of items across seasons.
- Due to that distinct aesthetic, Miu Miu has a loyal following invested in the brand’s vision that may appreciate a channel for daily interactions with its avatar.
- That interest may make some customers open to community and trading initiatives.
Second degree consequences
Digital communities
Knowing individual preferences would allow curation of private digital communities – exclusive online spaces for small groups of like-minded high-value clients with personalizing content based on shared interests. This could evolve into social match-making, which is also something I wrote about here.
Brand and product communications could get much more personal with AI producing content that resonates with individual customers, highlighting social narratives and aspects of craftsmanship, heritage, or innovation most relevant to them.
Predictive Customer Care
Finally, keeping track of client wardrobes would allow Predictive Customer Care – leveraging AI to anticipate potential issues before they arise and proactively offer solutions, preventing disappointments in the customer journey.
Predictive Customer Care is worthy of a separate post, but, in short it could include (but not be limited to):
- Product maintenance alerts (e.g. invitations to service your watch / refresh your bag)
- Product care emergency kits (e.g. cleaning emergency support)
- Product reservations
- Travel support (e.g. care packages delivered to hotel rooms)
Coda
The advisor would provide tangible benefits to Miu Miu customers in a uniquely on-brand manner. It would create a channel for a continuous conversation highly beneficial to everyone involved. It would allow Miu Miu clients to make the most of their purchases and possibly buy more. It would gather insights into what people actually wear and how, promote sustainability, and open doors to new services and revenue streams. Above all, it would help build deeper relationships and loyalty at the time of great uncertainty.
KOTOMIN 