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For older luxury markets in North America and Europe, the idea of status connects more directly with personal achievement. For younger buyers, status also equates to exclusivity.
The things that define a luxury experience in digital are not the things that people seem to think they are.
Without fail, we start to see back-to-school marketing campaigns begin to rollout mid-summer, holiday promotions at the beginning of fall and then Valentine’s Day emails start rolling in right after New Year’s – and the cycle continues each year for each and every holiday.
What today’s consumers demand is a fully connected experience, one where everything comes together to create a quick, painless and satisfying shopping experience.
The democratization of luxury brands and the rise of accessible luxury mean that loud signals are becoming increasingly visible and losing their luxury cachet.
The one thing that many brands have to differentiate themselves is their in-store experience.
The explosion of branded content on social media is a well-known phenomenon. However, its influence in the context of a purchase-decision driver has been less debated and quantified.
The worldwide luxury business spent $1.01 billion on digital advertising in 2016, an increase of 63 percent since 2013, per media services agency Zenith Media. Over the same period, spending on magazine ads dropped 8 percent to $2.6 billion, claimed Zenith.
What might appear as necessary for survival in the non-luxury retail world – in this case, data-driven marketing – might destroy what makes luxury so special.
Luxury brands have historically looked to a single target for sales growth in the United States: adults ages 40-plus with annual household incomes of more than $250,000. The problem is, this segment is spending less on top-tier products.
Customer entitlement reflects an individual customer’s sense of being special and deserving of immediate attention.
As Apple strives to improve the user experience, it is also pushing a more restrictive ad-tracking policy that will make it far more difficult for advertisers to target their desired audiences and for publishers to optimize their advertising revenues.
The challenge for brands and retailers is how to convert video views into product sales.
Though retailers and publishers may recognize the importance of personalization, they are still struggling to operationalize it beyond simple audience groups.
With partners and competitors leveraging instantly available information, quarterly and annual plans have been rendered obsolete.
Between promising campaign results, format versatility and general industry adoption, brands that opt for early adoption are better suited to pull ahead in the digital arms race.
Voice is the new interface to the world. From the Amazon Echo to the Apple HomePod and Google Essential Home, there is no question as to whether voice is applicable to the luxury world.
Chanel boasts the most social followers – more than 57 million globally – and is the leading luxury brand on all platforms, except Facebook, where it is a close second to Louis Vuitton, both at around 20 million.
From Alain Passard’s tomato confit with 12 flavors to Anne-Sophie Pic’s asparagus with Arabica coffee, creative and surprising combinations of tastes and textures have been essential to the success of the world’s most recognized chefs.
To entice a new generation of Judith Leiber aficionados, Authentic Brands Group relaunched the brand in 2013 complete with a social media program designed to create brand awareness and establish a presence among a younger audience.
A trademark is a more limited right than a copyright or design patent. It is merely the right to use a particular word or symbol to identify the source of goods.
