How Luxury Brands Can Prepare for Affluent Millennials. Duke Greenhill is the founder and CEO of Greenhill+Partners, the premiere agency for bespoke luxury brand marketing. Duke is also available as an independent consultant and speaker at Duke@Greenhill-Partners.com. Echo Boomers. Generation Y. Millennials. SEE ALSO: 3 Twitter Rumors and What They Could Mean for Brands Not surprisingly, by 2015, Millennials are expected to be the largest consumer demographic and nearly a third of the U.S. population.
Know the Difference in Value Baby Boomers: For Boomers, it is enough to say that a product is expensive because it’s luxurious and exclusive; and it’s luxurious and exclusive because it’s expensive. Millennials: Millennials scrutinize brands and offer allegiance only to those whose premium price-points are justified. It is no surprise, then, that superior quality, craftsmanship, and design were the top three attributes that defined luxury in a 2011 report by the Luxury Institute. Go from Icon to “I Can" Understand Inclusive Exclusivity.
4 Rules for Luxury Brand Mobile Marketing. Scott Forshay is a luxury and premium brand marketing consultant and mobile strategist who's been featured in PSFK, Luxury Daily, Fashion's Collective, Business of Fashion and The Wall Street Journal. He is the creator and editor of mobi.luxe. Follow him @mobiluxe. The essence of any coveted brand is the story it conveys. The elements of heritage, craftsmanship, and creative innovation combine with a vision of an aspirational lifestyle that inspires the desire to associate with that brand. SEE ALSO: How Luxury Brands Can Prepare for Affluent Millennials Historically, this vision was realized on a print canvas, but the rise of digital has created new opportunities. Through video and other forms of brand content, luxury brands have become media companies and content marketers selling a vision of an exclusive lifestyle attainable only by a select few. 1. Resist the temptation to unveil the entire story in a single instance. 2. 3.
Take the consumer on a journey with the narrative. 4. BMW Tate Live: Performance Room - Jérôme Bel. Chris Dercon introduces BMW Tate Live Performance Room. BMW Tate Live: Pablo Bronstein on Perfoming.