Recently I presented a talk Marketing Luxury Beauty in a Brand New Style at the LuxePack New York show. It looks at how the oft-quoted “Lipstick Effect” is only half true in today’s new luxury consumer market, as the status and prestige motivation for buying luxury brands is giving way to new drives and desires to buy luxury goods, most especially beauty.
Luxury is a mindset, not a brand or a price point
Today’s affluent consumers are driven by new needs and desires to trade up to luxury brands, desires like:
- Luxury for Me (Anti-status): Luxury isn’t about you, and what you think, but about me and who I am
- Luxury of Discovery (Spread the word): Thrill of discovery anchors brand’s most powerful marketing tool — Word-of-mouth
- Luxury of Simplicity (Simple elegance): It’s the KISS principle — Keep It Simple Stupid! – is valued. Embrace the concept of simple elegance.
This white paper explores each of these new luxury drivers and profiles brands that are using each to connect with today’s most profitable customers — the affluent.
The message: Luxury is a mindset, not a brand or a price point.
And watch my presentation at LUXEPACK where these ideas are presented.Watch Video