Should luxury brands be digitising? Should they be championing sustainability? What do customers expect in-store? As part of our Expert Outlook 2016 series, we speak to three experts about the value of experience, customisation and increasingly time-poor luxury consumers.
The luxury goods market is worth €224 billion, so it’s no surprise that when it comes to change, many top-tier brands see no point in fixing something that doesn’t seem broken. But has a conservative approach to brand messaging grown stale? And how does luxury fit into a world of tweets and likes?
Ever wanted an elephant at your party? Or maybe a private Jessie Ware gig? It’s never too big an ask of the Ten Group – the global leader in lifestyle concierge services. But why has demand for these services grown so rapidly? And how’s this changing relationships between businesses and UHNWIs?
HNWIs can take their pick of the finest luxury brands, defined by having a net worth of at least $2 million. There are 13.7 million of these consumers globally, but with so much to spend, how do they choose where to splash the cash first? And as their ranks grow, how will luxury shopping change?
What is luxury? How does strategy in the luxury sector work? And what can it teach other brands? Marco Bevolo, one of the authors of Premium by Design: how to understand, design and market high end products, provides a vision of the business of prestige, desire and seduction.
Flying by private jet to your own island, joining a ‘circuit’ of celebrity-filled events and chartering a superyacht – the life of an Ultra High Net Worth Individual is the stuff of dreams. But how do they actually spend their time and wealth? And how can brands engage these big spenders?
Over 90% of luxury purchases still take place in-store, yet HNWI often spend over 48 hours a week online. Can Crest & Co., which brings ‘the best of the best’ in luxury goods online, get super-rich customers and exclusive brands alike to re-evaluate how luxury goods are sold?
Britishness is a huge selling point for HNWIs across the globe, from Rolls Royce and Burberry in China to British butlers in Dubai. Can Beyond Bespoke’s ‘The Little Black Book’ of Britain’s most exclusive specialists become the passport to a secret world of UK luxury?
As luxury brands adapt to online, maintaining exclusivity is difficult. On UK online outlet Not Just a Label, people trade big names for one-off garments, buying into a subtler form of luxury. But how does it convince people to spend so much on labels they've never heard of?