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How To Build A Luxury Brand — Amati and Associates
What is luxury?
Before touching on luxury branding, we must address the definition of luxury, which is no easy task. While many focus on the pricing side, the high ticket prices are more effective than a category driver. There are plenty of luxury wanna-be products and services that have higher than average tickets yet do not deliver on any dimension of a luxury experience.
So, which are the dimensions? According to experts:
1. Quality — higher-quality materials and craftsmanship, finest services
2. Selective — limited supply, not broadly available although with large retail networks3. Authenticity — unique design or manufacture
4. Personalization- personalize your product/ service and the experience
5. Innovation — new technology
6. Emotions- Experience-based value proposition
Trends likely to impact your Luxury Brand
Luxury trends are changing rapidly as the world changes. Macro shifts are fundamental forces that affect every aspect of our lives. Trends are what we see now. Macro shifts are what we expect to happen over time.
