Luxury really is different. Luxury and premium brands cater to the most affluent, educated, and sophisticated consumers. The luxury goods and services that affluent, wealthy, and uber-wealthy consumers buy are highly considered, high-value, high-investment, and high-emotion purchases such as fashion, watches, jewelry, vehicles, high-end appliances, homes, travel, private jet charters and financial services, etc...
True luxury brands need to highly differentiate by delivering unique and extraordinary experiences that make customers, and associates, feel special, develop deep trust, exchange fair value, and build long-term relationships. The customer lifetime value potential is far too high to leave to today’s blunt digital marketing practices. In Luxury Institute's latest white paper, we outline 8 recommendations for brands to test and optimize over time to build trust and find an intelligent path towards respectful, symmetrical customer data relationships.