The democratization of luxury

The democratization of luxury

The democratization of luxury can be defined as middle-income consumers selectively trading up to higher levels of quality, taste, and aspiration. And it has formed a new market which luxury brands need to pay attention to.

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Accessories of big brand

For those middle-income consumers, it is more important in “symbol” and “value.” They expect better luxury experiences or let others perceive their taste. The significance of a luxury brand’s logo is far greater than the significance of products and that spawned small accessories and objects market for some luxury brands.

 

Fast fashion brand

檢視原始圖片Typical brands such as ZARA, H&M, these fast fashion brand images are not lost to the luxury brands image, but they can collect the fashion elements from luxury brands at a fast pace.

 

Vice-line brand out of the line

Some wise old luxury brands introduced vice-line brand (second line) to target the main mass consumer groups. For example, Armani launched a vice-line brand A/X, which was widely popular among young people, and thus expand the brand’s market share.

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Source:

http://www.emarketing.net.cn/magazine/article.jsp?aid=1530

 

Ya-Ting Chung

Ya-Ting Chung

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2015-12-13T01:55:49+00:00