ATTRIBUTES OF LUXURY BUYERS
By Sanjarbek KHODJAEV
Wealthy individuals are still buying, but their priorities have changed. The people with the real money still have the ability to purchase, they just need to be persuaded to do so.
Reaching luxury buyers these days means new strategies and a focus on the interests of the buyers, Even the wealthy are “more value driven,” and they are looking to “better understand the equation of price and value.
They are more interested in experience. More interested in telling a story about what constitutes the best of the best or a great or unique experience.
The Web and newsletters that are very customized to the person’s style, tastes or interests are becoming more and more successful.
The luxury consumers are heavy users of online services and applications, using the Internet to both engage with and talk about luxury brands. Luxury consumers rate the Internet highly as a source of inspiration and ideas for luxury brands.
http://advertising.microsoft.com/research/luxury-lovers
http://socialmediatoday.com/steve-olenski/297187/why-do-luxury-consumersengage-brands-social-media
WHAT STRATEGIES SHOULD BRANDS USE TO CAPTURE LUXURY BUYERS?
Luxury brands should have an online presence.
Engage luxury customers online Let them know more about your history Create mobile apps Highlight exclusive products online Personalize the service and the product Update information frequently Create a WOW factor, Innovate Communicate and share Not to forget younger luxury customers