Luxury, like nearly all categories, is evolving. Our research reveals changes driven by:
- Major demographic shifts
- Long-term US and global socio-economic trends
- Technology – which has increased accessibility as well as redefined what is considered luxury to begin with
As a result, consumer expectations and perceptions are also changing. Understanding these complex new dimensions become vital in order to optimize potential marketing opportunities.
Defining the affluent understanding of and expectations around the idea of luxury is key for marketers looking to effectively target key affluent demographics. Understanding how these consumers define luxury, how it makes them feel, their purchase habits and how they’re changing are all key dimensions in painting a complete picture of the current luxury landscape.
Click below to listen to a recording of our luxury webinar: