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For Luxury Brands Innovation Is No Luxury, But Necessity

In the 2017 State of the Luxury Industry Study, luxury industry insiders told us that “Innovation Strategies” were a key priority for their companies in the coming year. Because of the rapidly changing consumer marketplace, innovating with new products, new services, new marketing strategies and new ways to engage with the affluent customers is key.

In order to successfully innovate, people need new ideas that give them new ways of looking at old problems. One of the ways to gather new ideas is through a survey like this one: the State of the Luxury Industry Study 2018, sponsored jointly by Luxury Daily and Unity Marketing.

Now it is time to update that first study to track trends and developments in the luxury market and how the industry is responding to the changes.

Below is a link to share your ideas and opinions about the direction of the luxury industry overall and your company’s and your role in it.  We’ve included many of the same questions we asked last year in order to track trends, plus some new questions about advertising and marketing strategies and innovation opportunities.

Our goal for this study is to provide new information about the luxury industry that will:

  • INSPIRE you
  • INFORM you,
  • CHALLENGE you, and most importantly
  • GIVE you ideas to power your marketing, branding and retail strategies.

As a thank you for taking a few minutes to share your perspectives, we will provide you with a copy of the executive summary of the survey, including all answers to each question.

Plus you will also receive a copy of my next book, Meet the HENRYs: Where to Find White Space in the Disrupted Luxury Market, which delves more deeply into the next generation of luxury customers, the high-earners-not-rich-yet consumers, including their demographics, purchase behavior and unique mindset. This book will help you kickstart your marketing efforts to the next most influential customer base for luxury brands: the millennials on the road to affluence.
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