Luxury brand is a brand that is not owned by everyone. It’s derived from technical superiority and unique craftsmanship. A luxury brand projects wealth and has of course something to do with luxury social role playing.
So beware since luxury brand managers are creating desire for things no one really needs and charge a lot of money for them. :) The really value is actual becoming an emotional value. Consumer has to feel the exclusivity. Luxury brands are still tightly controlling quality and distribution and know how to create a buzz. Intangibles such as design, creativity, meanings, storytelling and entertainment play much bigger role than manufacturing.
But now the luxury long tail arrived. It means that many people live luxury in some proportion of their lives. For example: Common people are playing golf. Or buy Prada. But that doesn’t mean they flow to Ibiza with a private jet on weekends.
Talking of Prada. Some top clubs in Manchester have banned people wearing Prada shoes from entry. Local street gangs wear them.
The future society will not be interested in luxury objects but on sensory gratification (pleasure, sensation, comfort). We will become consumers of luxury experience, meanings and luxury illusions.
I really like this presentation!
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