luxury products

Shop for Success: Why You Need to Indulge Yourself

In difficult economic times, it’s tempting, even logical, to watch your purchases carefully. Most people recognize the need to keep up external appearances for, say, a job interview or an important sales call, they may cut back in areas less visible to others by buying generic products instead of brand names.

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Make Buying Difficult

Marketers expend a great deal of effort making it easy to buy their products. They expand distribution channels, offer financing alternatives, and when possible ensure the customer can leave with the product at time of purchase. After all, if you think of the sales process as a funnel (or perhaps a leaky funnel), every little barrier to purchasing is one more way to knock that potential buyer out of the funnel. The exceptions to this rule are some true luxury products.

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When Consumption Isn’t Conspicuous

Marketers know that a key element in many purchases is to signal something about the buyer. A Toyota Prius, for example, says that its owner is concerned about the environment. Expensive luxury brands let the world know the buyer has discriminating taste, and, more importantly, has plenty of money.

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An Impractical Perspective on the Wine Business

Guest Post by: Laszlo Kövari

As we go from south to north we come across wine nations, beer nations and of course spirit nations. Wine consumption however is growing globally, including in beer and spirit nations and as a result of this the wine selection is getting wider in all major super and hypermarkets.

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Luxury Experiences Not Luxury Stuff

Some new research has just been published by McKinsey about the decline in Japanese consumer’s seemingly insatiable appetite for luxury goods. Sorry, the article is subscription only.

Just look at the graphic showing the responses, by age, to the statement: “I prefer spending money on luxury experiences rather than buying luxury accessories, handbags, or apparel."

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Is It Enough to Personalize Products to Be Different vs. Competition? M&M's, BMW, Louis Vuitton, H&M, Nike

Guest post by Frédéric Baffou

“The end of this afternoon is warmful and sunny. I am cruising with my new BMW on the sea side. I can enjoy the multiple options that I have configured to get the car built according to my needs. It is now 5.00 pm on my beautiful Quai de l’Ile watch from Vacheron Constantin. I played the role of a watchmaker as I could choose from 400 different possibilities directly on a touch screen.

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The Next 24 Months for Luxury Brands...... Innovate or Die

by: Idris Mootee

In London this week for planning sessions. Did enjoy some quality time Sunday with my sister’s family including a quick visit to Portabello Road and then lunch at the Mandarin. This year Christmas’ decorations are done with a budget in mind and you can see it is not like other years. High Street retailers suddenly look main street.

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Luxury Schmuxury

by: Jonathan Salem Baskin

"Mass-affluent" brands like Burberry, Tiffany, and Coach are hurting in this dicey economy of ours, just like their lesser-branded competitors.

I guess I still don't understand the branding equation: expenditures on branding are an investment because they imbue products and services with attributes, associations, and a substantive equity that should somehow supercede competitive comparisons of function or price.

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When Did Luxury Became Excess?

by: Jonathan Salem Baskin

It turns out that the luxury consumer businesses are feeling the pinch of recession, and I think they only have themselves to blame for hurting their brands.

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How Luxury Brands Can Benefit from Online Communities

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