Luxury Travel & Lifestyle Trends

While reports abound that aspirational ‘trading up’ is over, luxury marketers still need to consider them as opportunities for new revenue streams and new ideas. Why? read further…

I was recently involved in a LinkedIn group discussion on what constitutes “new” luxury. Here’s my “sound bite” on the subject – and feel free to chime in if you agree or disagree:

French born Dr. Clotaire Rapaille, author of the “The Culture Code: An Ingenious Way to Understand Why People Around the World Live and Buy as They Do” gave a thought provoking talk this week at Miami’s Luxury Marketing Council.

Luxury brands and social media are a combination that has not been a love affair. Some feared diluting their elite and exclusive community. Another concern is that luxury is not just a product, it’s an experience. Consumers need to see and feel luxury with their own eyes and hands. They want first-class service, personalized design and unique touches unavailable elsewhere. This need for a “touch point” is precisely why retail outlets have traditionally been so essential to a luxury brand. It’s not a “feeling” conveyable online.