September 14, 2016
The business of luxury is changing. The growing numbers of affluent consumers who readily indulge in a luxury lifestyle presents welcome opportunities for luxury brands.
Yet, the challenges of globalization, changing consumer patterns of shopping and media consumption, and the generational shift in the prime target market for luxury brands from mature baby boomers, to young Gen-Xers and even the younger Gen-Y better known as millennials, is upsetting the traditional ways that luxury brands market and grow their businesses.
As a result, new brands with new marketing messages are disrupting the traditions of marketing luxury, as Ana Andjelic, senior vice president and global strategy director of Havas LuxHub, pointed out in a recent Luxury Daily article: “The most successful modern luxury companies did not come from the traditional luxury industry – think Tesla, Apple, Nespresso, Yoox Net-A-Porter, Farfetch or Warby Parker.”
To assess the current state of the luxury business from an insider’s point of view, Luxury Daily and Unity Marketing have partnered to create the first-of-its-kind State of the Luxury Industry study. Our goals are three-fold:
We need your help to achieve these goals.
If you believe as we do that a State of the Luxury Industry study will help you measurably improve your understanding of the changing marketplace that we face today in the luxury market, we kindly request you to complete this 10-minute survey by clicking here.
As a thank-you for participating in the survey, we will share with you the results of the study in an executive summary as soon as it is complete.
In addition, you will also receive an electronic copy of Pam Danziger’s new mini-book – What Do HENRYs Want? – that profiles the young high-earners-not-rich-yet consumers who represent the next generation customers for luxury brands.
We would most definitely appreciate the time you invest in sharing your ideas about the prospects for the luxury business. Please join us in this survey.
Mickey Alam Khan
Editor in Chief, Luxury Daily
President, Unity Marketing