luxury consumers shopping

luxury consumers shopping

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luxury consumers shopping
Click this link to get this post sent to U as PDFEnter your valid Email AddressWhat Luxury Consumers Want     Luxury Consumers Shopping Update 2017.  Luxury consumer shopping was based on an article written by Ariel Adams for Forbes.com Entitled; Luxury Consumers Value products, Not Buying  Experiences. The article caught my attention because I have an […]
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What Luxury Consumers Want

What luxury consumers value

Images of Luxury Shopping

 

 

Luxury Consumers Shopping Update 2017. 

Luxury consumer shopping was based on an article written by Ariel

Adams for Forbes.com

Entitled; Luxury Consumers Value products, Not Buying 

Experiences.


The article caught my attention because I have an E-Mall with…

the following concentration:

 

*** Fashion

*** Beauty

*** Health

 

My E-Mall is loaded with luxury designers products from a Canadian

luxury designer’s fashion house.

 

Usually when I share this with people many of them would say,

there is no real future in luxury goods, especially in this economy.

Some of the reasons they site is that how…  the economy is bad.

 

The business model I am with, will eventually saturate the

market. There is no repeat monthly buying.

 

 

What luxury consumer wants

FERI Luxe Sarah Purse – Coral Pink and Shields.

 

When I ask these people if they have ever, purchased something

Online, 8 out of ten says yes, with a passion.

Surprisingly many of them have some sort of auction or penny auction

site that’s on their smart phone. 

 

And now many of them have sites like Shopify and Etsy on their phones.

But I am still hearing, if your products are luxurious and of high quality…,

why not open a store front to sell? 

Intriguingly, these are the same folks who haven’t been to…

a high end department store in years. 

 

I have realized that these folks really don’t know what they are

talking about, even though they are participants in the new shift

to eCommerce. 

 

Back, when I first wrote this…

This article by Ariel Adams, does shed some light on whats was…

going on that most people weren’t aware of…

even though they were participating in it.

 

What luxury consumers wanti

Downtown shopping centers

 

What I got from Ms. Adams’s article is that the luxury shopping

experience that used to be out there, in your face has practically

disappeared.

 

Apparently  there used to be rules for luxury shopping.

Where the emphasis was on how you felt, while shopping…

and not really on what you bought.  Today it is vice versa.

 

Well Luxury Consumers Values Have Changed

 

According to Mr. Adams article more and more people were letting

go of the luxury shopping experience for the product experience

and choosing easy shopping, from home via the internet.

 

Easy, time saving shopping for products that “actually feels

luxurious,” is what’s valued by today’s luxury consumers.

Luxury brands are now fighting for space online, fighting to adapt

to consumers needs, wants and shopping habits.

 

What luxury consumers want

An assortments of FERI Luxe Stingray handbags

 

According to the article, “Today successful luxury brands have

taken responsibility over manufacturing, creating retail demand

, and finally fulfilling the demand by selling direct to consumers. 

The value of the middle-man third party retailer is quickly

evaporating.

 

Luxury brands with a desire to compete in today’s

market must form a close relationship with consumers that

involves impressing upon people the value of their brand, what

new products are available, and giving them an opportunity to

purchase them with ease.”

 

What the article is suggesting is exactly what Global Wealth

Trade Corp, lifestyle business consultants do.  It is exactly

what successful eCommerce entrepreneurs are doing.

 

 

Mr. Adams has a lot more to say about this shift in buying habits

and values of luxury consumer or trend which I encourage you to

read.

 

What luxury consumers want

Luxury consumer shopping online

For Luxury Industry, Ecommerce Is No Longer a Luxury

By 2025, online will represent 25% of luxury goods sales, study projects

Author: Andria Cheng

“In response, luxury companies are not only honing their

social media and digital marketing strategies and getting on sites…

like Snapchat to engage with the younger consumers.

More of them are also partnering with sites like Yoox Net-A Porter Group (YNAP),

which runs ecommerce sites for luxury labels from Valentino to Emporio Armani.

YNAP also sells luxury items on a variety of its own ecommerce sites.

YNAP’s results are another sign of ecommerce being the big bright spot for luxury.

While many brick-and-mortar luxury retailers and department stores…

are posting declining sales, YNAP posted a nearly 18% increase in net revenue in 2016.

 

What luxury consumers want

FERI MOSH Banners

How Millennials Will Reshape the Luxury Market

 

I am the editor of ForbesLife. 

According to the writings of Michael Solomon, editor of ForbesLife…

“The luxury market is expected to grow again in 2017.”

That’s based on a recent study by Bain & Co.  

They saw promising results in the first quarter of 2017.

According to the article, “Bain reported a 4% growth for the…

first quarter of this year, with a projected 2-4% growth for the…

year—or €254 billion to €259 billion ($284 billion to $289 billion).” 

They reported the trends and methodology Millennials use…

for online luxury shopping and what brands are doing or need…

to do to keep up with the millennials global free spirit shopping.

 

What luxury consumers want

FERI Luxe – Emily Purse – black & FERI – Nyx Watch – Gold Tone with Black Strap

The report stated that the brands that are well positioned to capture…

the Millennial market are “moving away from the old luxury habits:”

They are moving away “from celebrating their own heritage to…

celebrating consumers’ passions; from looking obsessively into…

their past to providing futuristic aesthetic visions; from ‘shouting their name’

to enabling consumers’ self-expression; from being fanatical of brand-purity…

to be open to collaborations and contamination.”

The article went on to say that,

“there is one other key factor to this Millennial mindset—the generation is more entrepreneurial than their parents. If existing brands don’t fit their values or self-image, they create their own. “Fashion/luxury has always been a very fertile soil for creativity and entrepreneurship. And here 1 + 1 definitively makes 3,” D’Arpizio says. “I believe we are potentially going through a transformation phase of the luxury industry as strong as the one seen over the ’70s and the ’80s when big luxury players established the rules of the game as we knew them up to now.”

This seem perfect for a company like GWT Corp soon to be known as Opulence.

 

What luxury consumers want

FERI Holiday Mega Sale Poster.

 

Their marketing and distribution model is exactly how the millennials are…

shopping except in part to the branding,

which with some education may fall in line with them.

 

Based on what you have read here can you see a bright future for 

those who embraces this, take time to fully understand it and 

learn how to profit from this shift in luxury consumers values?


Millions of people around the world are already embracing this

shift and profiting immensely from it.


Germey Baird is an independent luxury consultant with 
GWT 

Corp and writes about their luxury products.

 

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