In this exclusive interview, Geoffrey Riddle, a globally recognized luxury sales expert and speaker, shares his invaluable insights on the ever-evolving luxury market. With a wealth of experience, Geoffrey has witnessed firsthand the industry’s transformation—from an elite, invitation-only sphere to an aspirational, digital-driven marketplace. Known for his engaging training methods and deep understanding of high-net-worth clientele, Geoffrey emphasizes the importance of performance, storytelling, and continuous learning in luxury sales.

Leading this thought-provoking discussion is Alexander Chetchikov, President of the World Luxury Chamber of Commerce, who delves into Geoffrey’s expertise, exploring key trends, strategic approaches, and the art of making every luxury sales experience a memorable performance.

Alexander Chetchikov: Geoffrey, your career has spanned over three decades in luxury sales, and you’ve been acclaimed as one of the top luxury speakers in the world. How has the luxury market evolved over the years, and what key trends do you see influencing its future?

Geoffrey Riddle: Before social media and influencers, the luxury market was like a private club. You discovered what was going on almost exclusively through personal contacts. The level of your circle of influence, in most cases, was local.

When my father started his business in New Jersey, if we did take a vacation, it was for about a week in a motel at the Jersey shore. As his business grew, he became associated with a more successful group of people, and through their experiences, the level of our vacations went up every year, but eventually plateaued because his circle was still mostly local.

The luxury market at that time was dominated by high-net-worth individuals almost exclusively, and only big cities offered luxury goods and services. Luxury was still way out of reach for most people because of finances and logistics.

With the explosion of social media, everyone is aware of luxury, and aspirational buyers are everywhere. Luxury houses are no longer reliant on foot traffic through their stores, and ordering on the internet has increased sales exponentially. The taste for newfound profits and the excitement of widening their audience have led some brands to offer less than exclusive products and entertaining mass market strategies, which subsequently diluted the brand. Profits based on volume is a sure fire race to the bottom from which luxury cannot recover.

Several years ago, I predicted the fall of the Chinese market even though experts were still bullish. Now, India is in the crosshairs, and some brands have targeted it like storm chasers.

As a younger demographic enters the luxury world, brands are embracing artificial intelligence and changing the shopping experience. It is important, however, not to ostracize an older generation that still enjoys a store visit, champagne, and over-the-top personal attention. 

AC: Your seminars and talks are known for being both entertaining and educational, often incorporating video and role-playing. How do these interactive elements enhance the learning experience, and why do you believe they’re key to engaging luxury sales professionals?

GR: The first time I heard a recording of my voice, I was appalled and adamant it was not me. So I worked on my voice. One day, on a lark, I recorded my sales presentation. My voice was great, but my presentation was horrible. Even I wouldn’t buy from me. I continually made changes, and my sales increased.

At that time, other salespeople asked for my help, and I recorded them too and pointed out changes they could make. When a sales manager asked to video me in a live presentation for future training, I agreed.

You cannot believe how annoying and irritating some body language can be. In most cases, it’s subliminal but enough to lower your trust factor to nothing more than a pitchman. It is no longer enough to be an expert in your field, there are plenty of them. The sales process alone will not make you a superstar. Unless your presentation is worthy of an Academy Award-winning performance, you’re just another salesperson. Most people are eyesight dominant. What they see has the biggest impact on what they think, desire, and act upon.

As a golfer, I have found thousands of videos online that show you how to hit a golf ball. If all I did was watch them and go right to the golf course without practicing I would be a failure. But I have learned over the years that the time I spent practicing, especially with a camera, is in direct proportion to my level of performance. It’s no different in sales. 

AC: In your experience, what is the most critical aspect of training luxury salespeople, and how do you ensure that your approach is tailored to the unique needs of high-net-worth individuals?

GR: First, training is not a one-time thing. It needs to be an ongoing process, otherwise, salespeople will default to whatever is comfortable, and it is usually to their detriment. So I remain on-call for six months with scheduled visits to make sure what they learned becomes permanent.

Second, people are people. This is probably heretical, but the HNWI is not unique. They have the same desires, flaws, and triggers that move others, but with a bigger purse. When you understand this, you can move seamlessly and successfully within any group. “How to Win Friends and Influence People” by Dale Carnegie is a primer in this area. He is often quoted but not necessarily given the credit he deserves. 

AC: As a speaker and strategist, you often emphasize the importance of performance in the sales process. How can brands shift their mindset to view every interaction as a performance, and what role does storytelling play in creating memorable customer experiences?

GR: In training, it should be emphasized over and over that even a transactional purchase is an event worthy of a performance. I went into a store to purchase a watch. I had already decided on the luxury brand and model, so I figured this wouldn’t take much time and I would make a salesperson happy. The saleswoman made a big deal of polishing it before handling the watch. She also inspected it to make sure it was perfect. She commented on my obvious good taste and asked if she could put it on my wrist. Her hands were beautiful, and her nails were professionally manicured. I insisted on wearing it home, and she proceeded to wrap the box in a special paper and put it into an elegant bag as if the watch were in it to be unwrapped at home. She had turned a transactional sale into a performance, created an experience I talk about frequently, and earned a fistful of referrals.

Humans are hardwired to listen to stories. They’re compelling. It’s how we have learned for a thousand years. A customer will remember and repeat your story to others instead of a fact or benefit that they may or may not believe. Stories can be used in any step of the sales process to bring it to life and connect deeper with the customer. If I had to give anyone in sales a simple method to be more successful, it would be to ask questions and tell stories. 

Thank you, Geoffrey!

As our conversation with Geoffrey Riddle comes to a close, one thing is clear—luxury sales are more than just a transaction; it’s an art form. From the evolution of the market to the undeniable impact of performance and storytelling, Geoffrey’s insights offer invaluable lessons for both seasoned professionals and aspiring luxury sales experts.

With a deep understanding of human psychology and a passion for excellence, Geoffrey continues to shape the way luxury brands engage with their clientele. As the industry adapts to new technologies and shifting consumer behaviors, his message remains timeless: luxury is not just sold—it’s experienced.

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