In the past decade the face of retail has changed course significantly with the introduction of in-store digital touch points and the advances of ecommerce.
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China has been thought of as an emerging luxury market for many years, but those who are considered luxury consumers are no longer “emerging.” They have become among the most knowledgeable and the highest spending affluent group in the world.
Purchasing fragrances can be a daunting task for consumers due to the high number of options as the industry sector has become oversaturated with reinterpretations and new scents.
The luxury consumer is accustomed to high levels of service when shopping in a traditional bricks-and-mortar store, but it can be difficult to find that same quality of attention when buying online.
The Economist, one of the world’s preeminent business publications, has always stood out from the crowd. It is printed in a magazine format and yet styles itself a newspaper. There are no bylines. There are plenty of opinions – all firm. And it yields no ground on subscription fees, both to new subscribers and old. One more thing: it claims not to be advertising dependent, even while that revenue stream is important to the organization.
Luxury brands in all industries use celebrities to endorse their products, but the campaign is worthless unless the celebrity’s value matches that of the brand.
Luxury marketers are starting to target the technology-first millennial consumer, a challenge that requires brands to be innovative to see positive results.
L2’s recent report on the Japanese and South Korean luxury markets emphasized the need for brands to use digital strategies and local platforms to appeal to consumers.
Luxury can be found in unusual places, and for some an expensive and exclusive experience comes from the adventure found within physical activity.
Auberge Resorts will no longer only serve the short-term vacationer, but will now host permanent residents at its first ever real estate location in Fort Lauderdale.