In recent years, the luxury goods market has grown both in terms of sales and opportunities. According to a McKinsey study, in 2018, its value was 330 billion euros and it is expected to reach 430 billion euros in 2025 . With numbers so high, it is understandable that more and more companies want to acquire the cachet of exclusive luxury to make their products ambitious and must-have items, while exploiting the new marketing tools and tactics that are resonating with consumers. .

Yet, according to Deloitte’s Global Powers of Luxury Goods 2019 , the ranking of the top 100 luxury brands is roughly the same from Morocco WhatsApp Number List year to year . The real challenges for these companies are changes in consumer behavior, as well as competition from high-end ready-to-wear brands that have adapted to the needs of new generations with amazing, personalized and digital experiences.Over the past decade, the luxury marketing landscape has been constantly changing and evolution continues at a rapid pace .

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Upper Middle Class Consumers View Luxury Shopping As An

The average age of luxury consumers is decreasing and their purchasing habits are changing. For the first time in decades, the brands they consider it necessary to reconsider their strategies to fit the expectations of cohorts of Generation Y and Generation Z . At Hapticmedia, with our blog, we keep you informed about innovations and trends. In this article, we have decided to approach luxury marketing from the relevant numbers. Regardless of the industry, marketing should always be based on quantified data.

The following 20 figures perfectly illustrate and summarize the trends in the luxury market . Luxury industry 1.3 trillion euros: this is the value that the global luxury market is expected to reach in 2025. In 2018, the luxury market was valued at € 920 billion, split between experiential luxury (i.e. i.e. catering, travel, drinks and food, designer furniture, cars, boats, smartphones and tablets – € 590bn) and personal luxury products (€ 330bn). Source: 2019 True – Luxury Global Consumer Insight 6th Edition . luxury products and services, but to get a share of their wallet, you have to stimulate and motivate them.

For The Elite, Luxury Is A Given, It Is The Constant Of A Certain Quality Of Life;

This is why luxury brands have invested heavily in new marketing tools and strategies with which consumers resonate : influencer marketing, online retail and conversational selling, AI, 3D and Big Data, collaboration with top brands. range and establishment of a more personal brand-consumer relationship. Some brands have even established long-term relationships with influencers. Balmain’s collaboration with Cara Delevingne , who has become a friend of the house, is a prime example.

This collaboration has extended to the design of the collections and the generation of Instagram content that captures consumers and makes fascinating the assets of the house: the glamor, the rebellious spirit, the dynamic style. Demographic analysis The luxury clientele will increase to reach 450 million by 2025, against 390 million in 2019 , mainly thanks to the growth of the middle class, particularly in Asia. Source: Bain & Co. 35% of luxury consumers are Chinese and their percentage is expected to reach 40% by 2025 . Source: McKinsey China Luxury Report 2019 .

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