New luxury purchase triggers

New luxury purchase triggers

When I started searching the information about what triggers consumers to buy luxury goods or services, some information caught my attention. According to a study from Farfetch the shift from retail stores to digital will be more than 20% for the next years. So the triggers to purchase will be completely different from now. So what do we have to consider for future buyers?

Social Media, even if some luxury brands are now creating a strategy, they have to reach this tool, not as a selling point but as a place to show and describe the brand personality. Some times brands forget to approach their costumers in a friendly way and they start being invasive. Social media drives their costumers to engage to a brand. Identification and interaction are the principal drivers for the consumers in this tool and you can create it by having relevant content.

Brands´ website, some luxury brands think that they don’t need this tool because their costumers are not used to buy from an Internet spot. We can clearly say that that’s not true. 15% of the people (according to Deloitte) use this, even if is only for research, and they are expecting a premium experience. Novelty makes the brain feel like there is a possibility for reward waiting for us just around the corner. That potential for pleasure motivates us to seek it out and you as a brand can monopolize this feeling trough a website.

So the new drivers that we need to consider as a luxury brand are: Identification, interaction and novelty. If the digital world is meant to help you with this, why not use it more efficiently.