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What is a Luxury Brand?
A luxury brand is considered a brand if it is of high quality, exclusive and has a higher price range. It is as simple as that. Luxury items are not a necessity, but are very desirable within a certain culture or society. Hence luxury items from brands are considered to be a part of conspicuous consumption i.e., the purchase of goods to show off one’s wealth.
Characteristics of a Luxury Brand
Luxury brands stand out from other forms of retail such as the mass market. A few reasons why luxury brands remain superior are
The price range of luxury brands are always on the higher side, and luxury sales are only made with products which belong to the most expensive products of that category.
Since luxury brands are expensive, they do not cater to a majority of buyers. Their main targets are the rich and affluent, or those who would be interested or fascinated with buying from them. This exclusivity often makes them appear more desirable, thus increasing their sales.
You can expect top notch quality from luxury goods and products. Their products are not only efficient when bought, but are durable and maintain their newness in the long run. A lot of luxury goods are often considered iconic pieces or classics, hence their value grows over time and are never disposed of.
4. Brand Image
Besides being exclusive, luxury brands portray themselves in a very lavish and luxurious manner, conveying to the public eye that it is the best way of living and nothing less will be accepted. It creates an aura of extravagance, one which is eye-catching for many.
Luxury Sales Strategies
In today’s times, with the boom of technology virtually everything has shifted to online platforms. Marketing strategies too have online presence, and here are a few ways by which luxury sales reps keep their businesses flourishing.
1. Visual Marketing
This includes making use of graphic design and photography. Whether you are selling automobiles, designer clothing or any form of luxury goods, the visual aesthetic of them is what draws people to it. Apps that make this possible are Pinterest, Instagram and official websites of luxury brands.
2. Using Brand Heritage
Everyone likes a story, especially if they are buying something that costs a lot and they want to do background research on why they should invest. Explaining the fundamentals and values which define a luxury brand is crucial.
3. Online Advertising
A lot of luxury brands use social media to advertise their brands through pop up ads on sites like facebook or instagram. This ensures that even while scrolling through your socials, you may be interested and click on their advertisement leading you to their website.
4. Online vs Offline
Bringing the in store experience online and the online experience in the store also creates more sales opportunities.
Luxury Sales Recruitment Agencies
Luxury sales recruitment agencies target the consumer sector and luxury goods industries by building relationships with world class clients to develop their management and senior executive tiers. They work both in the UK and international market, and recruit the best leadership talent and have worked with big brands like Dior, LVMH and Chopard.
M.M Enterprises are a luxury sales recruitment agency based in India that has been in business since the past 21 years. They provide recruitment services in many industries and offer services to many multi brand luxury retail showrooms in Singapore, Dubai, Cape Town, London and more.