Creating The Luxury Experience
||May 17, 2007
Seminar on the luxury market and the luxury consumer for Swarovski Managers in Chicago (IL).
From old luxury market – luxury from the point of view of some product arbiter, luxury as in conspicuous consumption, as in brands and luxury suffering from overexposure, loss of "can't-have" allure – to new luxury market – luxury from the consumer's perspective, how they themselves define it. Targeting the rich means understanding the concept of delusional "diffusionals". The true luxury fashion brands that want to retain their upscale status in the minds of wealthy consumers retreat from – or avoid all together – leveraging their prestigious names to launch second-tier or diffusional lines. In fact, it is delusional to think that luxury firms can pursue a move down-market without losing their standing among their best customers.
Plus, a review of the four types of luxury consumers: the X-Fluents (Extremely Affluent), the Butterflies, the Luxury Cocooners and the majority Aspirers and how to sell to them effectively.
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