25 Predictions for the Luxury Goods Industry in 2016. How will 2016 shape up for the global luxury goods industry?
Mounting instability in emerging market economies poses the biggest threat. Equally, the prospect of marginally stronger economic growth in Western Europe and North America could offer some respite for global brands. It is set to be another challenging year strategically, with nothing written in stone. Within that framework, here are our predictions of the brands, the markets and the battlegrounds that will grab the headlines as the year unfolds.
Uses - Online Market Research Software. Luxe Redux: Raising the Bar for the Selling of Luxuries. The Experience Seekers Barbara is a 34-year-old professional—an American living in Chicago on an income of more than $100,000 a year.
When Barbara (not her real name) was in her twenties, she filled her days with shopping, stocking her closet with the latest lines from Yves Saint Laurent, Valentino, and Gucci. She adored buying from boutique brands such as Rick Owens and admits to “wasting hours” poring over sites such as Net-a-Porter.com. CustomerBasedbrandEquityModel. 3 Customer Engagement Strategies That Marketers Can’t Ignore. We live in a world that’s interconnected on many fronts.
This has led to the proliferation of content as well as data giving customers accessibility to more products and services. You would think that all this interconnectivity and information would lead them straight to product sales with businesses laughing all the way to the bank, right? Unfortunately, it’s not that easy and it all starts with customer engagement. Brand activation and its role in driving consumer engagement and awareness. Many popular brands are using activations to build popularity and give the consumer an experience that will make them feel a real personal connection to the company.
What is brand activation? Have you ever noticed when you go to buy a popular brand's product, do you ever stop to ask yourself, how did they become so trustworthy and admired? 5 Brands Winning Consumer Engagement In The Premier League. Carlsberg, Puma, and Barclays are among some of the brands that have really impressed this season, with campaigns and content initiatives that nurture sustained fan engagement.
The 2014/2015 Premier League season has come to its inevitable conclusion, with Jose Mourinho’s Chelsea emerging victorious. While a FIFA corruption scandal that emerged at the close of the season may have put a mark on the sport’s reputation, for many fans, these will blend into mere headlines. Brand marketers will also be taking a well deserved end of season rest. For key sponsors, the Premier League has long been an important opportunity to communicate messages about their brand and products, to a hyper-engaged, and passionate group of consumers.
As seasons have progressed, marketing activity has become more sophisticated; certain publications have commented on how the Premier League has become a “data minefield” for brands. BarnRaisers10 best brand examples of social media engagement. Posted on March 29, 2015 by Rob Petersen inShare51 Americans spend more time on social networks than any other internet activity, including email (source: Business Insider).
This fact may be a key reason many brands pursue social media, but it’s an even better reason why they should have a social media engagement plan, first. Social media engagement is communicating in a distinctive way so your audience pays attention and has a relationship with your brand in a two-way conversation. Top 10 Customer Engagement Trends for 2015. BCG: Four trends driving the new age of luxury. Ralph Lauren on Saks.com NEW YORK – The managing director at Boston Consulting Group said during the Luxury Roundtable: State of Luxury 2013 conference that specific trends are driving changes in the way that marketers do business.
During the “Lux Redux: Reshaping the Luxury Sector” session, the presenter discussed the new approaches that marketers should take for their business and when approaching consumers. The luxury market will likely continue to grow at 7 percent in line with the last three years and brands can drive sales among eager consumers by being experiential and not just product-driven. In Depth: World's Most Desirable Luxury Brands. How to be a successful luxury brand. The spread of luxury is the story of the early 21st century.
Take this fact: Louis Vuitton, which started life as a trunk-making business in Paris in 1854, will soon open a swanky new store in Kazakhstan. This follows the opening of a massive new store in Shanghai, right at the heart of what was once a hardline Communist state. Luxury goods are the quintessentially modern products, charting the spread of wealth and aspiration to the most unlikely places.
Campden looks at five things that luxury brands have to do if they are to flourish in this strange new world. 1: IF YOU’VE GOT A STORY, TELL IT Human beings love stories, so brands that have good tales are wise to use them as much as possible. Luxury brands facing leaner times, Economy News. Luxuries such as glitzy watches, swanky cars and casino visits are proving harder to sell worldwide amid global economic uncertainty and weaker Chinese demand.
The S&P Global Luxury Index, which comprises 80 of the largest publicly traded luxury goods or services companies, is down 7.45 per cent in total returns as at Dec 23 from its highs two years ago. The index's top five constituents as at Nov 30 were Nike, Diageo, Daimler, LVMH and Richemont, which owns the Cartier brand and last month warned of a challenging second half after first-half net profits grew less than expected. Luxury goods companies, which for years had been banking on China to drive sales, have been hit amid slowing economic growth in the mainland, where the government is also clamping down on corruption and expensive gift-giving.
Shares of Prada dropped more than 6 per cent to a record low last week, after the firm reported a 38 per cent plunge in its third-quarter profits on slumping sales in Greater China. Fashion industry happenings have direct impact on luxury consignment market. Instagram image from The RealReal Consignment marketplace The RealReal saw a 60 percent growth in revenue for Gucci products after Alessandro Michele joined the Italian brand as creative director.
While brands such as Chanel, Hermès and Cartier remained as best-sellers for 2015, The RealReal notes in its end of year findings, “State of Luxury Resale 2015,” that industry events affected the resale market. For example, Alexander Wang’s departure from Balenciaga (see story) raised the value of the designer’s namesake line by 15 percent on The RealReal. Fashion industry happenings have direct impact on luxury consignment market.
The Best of BoF 2015. The Future of Retail is the End of Wholesale E-commerce will rapidly reshape the entire economic model of retail, spelling the end of wholesale, argues Doug Stephens, founder of Retail Prophet. The ‘Made In’ Dilemma: To Label, or Not to Label Consumers care about the origin of their products, but luxury brands are all over the place when it comes to 'Made in' disclosures, says Luca Solca of Exane BNP Paribas. LVMH vs Kering: Which Player is Best Positioned for Growth? Which of the two french giants that dominate luxury fashion is best positioned for growth? Luca Solca, head of luxury goods at Exane BNP Paribas, does the analysis. In Net-a-Porter and Yoox Merger, a Fight Behind the Scenes.
The dispute will not derail the merger, which closed in October. But it highlights a peculiar battle between Ms. Busquets, who has sold her shares in Net-a-Porter, and Richemont, which is best known for its luxury watch brands like Montblanc and Piaget. A Fast and Flat Fashion World. This is an article from Turning Points, a magazine that explores what critical moments from this year might mean for the year ahead. Turning Point: Social media platforms introduce buy buttons and social shopping. Before I got out of bed on a recent morning, or even opened my mouth, I visited 14 cities, found out what 64 friends were up to the previous night, checked out what several movie stars were wearing to a party in Los Angeles and bought a camel coat by Bottega Veneta, which was delivered that afternoon. And then my day began. Currency fluctuations and luxury globe-trotters boost global personal luxury goods to over a quarter trillion. According to Bain & Company's 2015 worldwide luxury report, luxury brands will need the right pricing model to win against hard-to-predict currency volatility Milan – October 29, 2015 – The overall luxury industry – which as tracked by Bain & Company comprises 10 segments, led by luxury cars, luxury hospitality and personal luxury goods accounting for 80 percent of the total market – surpassed €1 trillion in retail sales value in 2015.
The market delivered healthy growth of 5 percent year-over-year (at constant exchange rates), driven primarily by luxury cars (8 percent), luxury hospitality (7 percent) and fine arts (6 percent). BAIN REPORT Global Luxury 2015. Luxury Goods Worldwide Market Study Winter 2015. The 14th edition of the Bain Luxury Study, published by Bain & Company for Fondazione Altagamma, the trade association of Italian luxury-goods manufacturers, analyzed recent developments in the global luxury- goods industry. The overall luxury industry tracked by Bain & Company comprises 10 segments, led by luxury cars, luxury hospitality and personal luxury goods, which together account for 80% of the total market. The industry surpassed €1 trillion in retail sales value in 2015 and delivered healthy growth of 5% year over year (at constant exchange rates), driven primarily by luxury cars (8%), luxury hospitality (7%) and fine arts (6%). Aided by global currency fluctuations and continued purchases by “borderless consumers,” the personal luxury goods market—the “core of the core” of luxury and the focus of the Bain Luxury Study—ballooned to more than €250 billion in 2015.
Currency swings affect regional performance. Leather fashion – A changing landscape. Luxury in instalments. Apple Watch 2 Features, Price And Launch Date Updates: A Combination Of Luxury And Fashion - The Bitbag. SchwartzUngar AAPSS%20Annals%205 15. Infographic: Co-Creation in the Fashion Industry. Trends come and go, craftsmanship is always in fashion. Marketing to millennials: the rise of content co-creation. 14 dfi co creation design as a way of value creation en. Burberry World: Co-Creation in the Fashion Industry. Luxury Marketing: Fashion Versus Luxury Brands. Luxury Branding: The Difference Between Premium and Luxury. Luxury vs Premium - Luxury Detectives by Added Value. Unconventional Business Wisdom for the refined entrepreneurial mindset - by James D. Roumeliotis. The Key Elements of Chanel's Luxury Marketing.
Can Haute Couture Be Engaging? The Case of Elie Saab versus Bouchra Jarrar. Smaller cities shopping more on online luxury platforms. Vintage Versace, Advertising Campaign and Advertising. Haute Couture Shows: January 2014. 10 Most Powerful Luxury Fashion Brands In The World. 14 Most Expensive Luxury Fashion Brands. Luxury Brands on Social Media February 2015. Welcome.