The follow blog post was inspired by a question from Marc Block CMKBD
As a luxury marketer for many years, one thing that I have started to question in recent years is the true definition of luxury. In the Kitchen & Bath Industry, luxury is often associated with brands such as Miele, Sub-Zero, and Wolf, but in my opinion, as brands continue to understand, connect and build brand loyalty with their customers, the definition will continue to evolve. I believe that Samsung is the new luxury for a subset of consumers because of the technology and how their products can make life easier.
Luxury has evolved over time, and its meaning now varies from person to person. It is crucial for businesses to understand what luxury means to their target audience as it is essential for creating effective campaigns and fostering brand loyalty.
For some consumers, luxury is defined as exclusivity and rarity. They seek out products and services that are unique and not easily accessible to the masses. Brands that can create a sense of exclusivity can appeal to these customers.
For others, luxury may be less about owning expensive items and more about indulging in unique experiences that make them feel special and catered to. This could involve personalized services, such as a private chef or personal shopper, or access to once-in-a-lifetime opportunities like a luxury cruise or private island getaway. Luxury experiences create memorable moments and feelings of exclusivity and indulgence.
For some consumers, luxury is exceptional quality and craftsmanship. They are looking for products that are made with the finest materials and are built to last. These consumers are less concerned with exclusivity and more focused on the value of their purchase.
In addition to exclusivity and quality, luxury can also mean convenience and personalized service. Consumers are willing to pay more for products and services that save them time and make their lives easier. Brands that can offer personalized shopping experiences, concierge services, and fast, reliable delivery can appeal to this segment of consumers.
It’s essential to note that luxury means different things to different people and can change depending on the context. Understanding what luxury means to your target audience is crucial for creating successful marketing campaigns.
To end, the definition of luxury has evolved beyond extravagant and costly products and services. Luxury now means different things to different people, and it’s important to understand what it means to your target audience. By creating campaigns that appeal to your audience’s definition of luxury, you can build brand loyalty and drive sales. Whether it’s exclusivity, quality, convenience, or personalized service, understanding and delivering on what luxury means to your customers is key to marketing success.
Kitchen & Bath Marketer – Pacific Sales/ Best Buy