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Affluent Consumers, the Interet and Luxury Marketing

Isaac Mostovicz writes that that with luxury consumers embracing online shopping, there is a stronger need for brands to maintain an insightful online presence than ever before...

Unity Marketing have carried out a report on “Affluent Consumers and How They Use the Internet, Social Media and Mobile Devices“.

Their key finding was that luxury consumers passionately enjoy the online shopping experience, and that those affluent consumers shopping online were those spending the most in support of their lifestyles.

The report also reported that:

  • Virtually all affluents using the internet; 80 percent of which use social media
  • Affluents who shop online are luxury brands’ best customers and best prospects
  • Affluents value internet shopping for its convenience, ability to shop 24/7 and its time saving aspects
  • Only 11 percent of affluents surveyed liked shopping in store more than online
Luxury consumers value on-line shopping for its convenience and speed

Luxury consumers value online shopping for its convenience and speed

The report predicted that in the next year, we will see more of social media being used to connect with luxury brands. As it stands, social media is used socially, not commercially.

The report concluded by stressing that there is a need for luxury brands to invest in understanding the needs, desires and motivations of their target consumers.

Luxury Activist says of this article...

The funny thing is that for many years, Luxury Brands thought that Internet was a cheap communication channel. Then, they changed their minds because unfortunately it is the Distribution and Retail stores who became cheap. So hopefully Internet ables Brands to communicate on the right way. We can also see the tremendous efforts that Brands made in terms of content. They are really good now.

Isaac Mostovicz says of this article...

I have learned to communicate using “cheap” channels many years ago when I was looking to market some superior diamonds in Japan. The help I got from De beers was a list of glossy magazines where publication costs a fortune and I was not convinced at all. I found out that my target audience reads the gossip columns in three trash newspapers. It was easy to ask those three ladies writing the gossip columns to mention us. It was for free!
It is all about thinking on ourselves or on our customers…

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Marketing Luxury Through Digital Technologies

Isaac Mostovicz writes that that certain luxury brands are demonstrating the growing need for innovative marketing and embracing new technologies...

Luxury brands are embracing digital technologies in a bid to reach out to consumers, providing them with a virtual way of engaging with products before they purchase them.

Italian designer Ermenegildo Zegna has tackled one of the core problems of buying clothes online – inability to try them on – by creating a virtual fitting room where customers can input their measurements and see how the clothes will fit on their body shape using a virtual mannequin.

Zegna online fitting room

De Beers, the luxury jewelry makers, have also developed a digital tool. To aid the customers of their Forevermark diamond brand, they developed an augmented reality virtual try-on experience through users’ computer screens. This allows people to download an application which enables them to virtually try on different diamonds. The application also encourages sharing on different social media sites.

De Beers augmented reality application

Luxury commentary website Luxury Daily say of the application:

“Since buying expensive jewelry is usually an emotional purchase, consumers like to physically touch or hold pieces before buying. Therefore, ecommerce options are not typical in the luxury jewelry realm. Instead, quite a few upscale jewelry lines have been tapping augmented reality to bring an experience closer to consumers.”

Both of these luxury brands are demonstrating the growing need for innovation, digital technology and experience if they are to compete in an increasingly competitive space and in targeting consumers both in growing markets and established ones.

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