Luxury consumers around the world.

Luxury consumers around the world.

In the last years the notion of luxury is changing, the accessibility of information and a person’s cultural background influence in how they perceive this term. This is now a challenge for brands trying to address a global market. Some countries can be more experienced in the industry and the other can be growing within it. Considering the different functionalities for luxury goods, we can divide the consumers in four groups.

The first group of consumers is defined as the ones that luxury is part of their DNA, they were born knowing this concept and the brands are part of their history and character. One of the most important characteristics for these consumers is that the manufacture is developed all in the same country and they care about all the process in witch they demand excessive details.

 

The second group of consumers cares more about functionality. Some studies have suggested that these consumers normally live in cold weather and because of the harsh conditions, the importance of luxury is perceived in whether they perform and accomplish the function that they were supposed to satisfy. These kinds of costumers seek perfection in materials and new technologies.

Another type of consumers consider luxury as a feeling, they don’t care about functionality or the history, they decide to buy luxury goods from the status that they can gain by using or having them. Is a way of romanticizing material acquisitions. These types of consumers tend to be creative and elegant. They care about the manners and social status and luxury is a way of showing who they are.

The newest and growing group of consumers are focused more now than ever in the experience. They are more likely to be authentic. Travel to remote parts of the world, and memorable interactions with genuine people represent a kind of rarity that is irreproducible. Human elements are the cornerstone of an authentic experience

The four types of Luxury consumers are getting even more mixed as the time passes and is now important for the brands to have a strategy that involves and attract all of them. Considering that the key to be successful you have first to be sure of the personality of the brand.

2018-11-14T09:40:19+00:00