Luxury Unfiltered is a weekly column by Daniel Langer, an expert in luxury branding, hospitality and activations who was named a “Global Top 5 Luxury Key Opinion Leader” by Netbase Quid.
They are seeking deeper emotional connections, more personalized experiences and, importantly, exceptional value. I often define luxury as the ability to create extreme value for clients, and far too many luxury brands focus on “operations,” but then forget that they need to inspire clients.
While this of course includes exceptional products, I recommend to brands to shift to a more holistic view and do a profound shift to the 4E of luxury: emotion, experience, exclusivity and engagement. In a recent study we could show that it only takes 1.6 underwhelming interactions to lose a client forever. I urge brands not to compromise on any interaction point.Luxury clients and especially ultra-luxury clients view craftsmanship and quality as a given. Remember, the role of brands is to create extreme value, and this includes quality.
As a result, client satisfaction was low. It’s a reminder that simply offering quality service isn’t enough. Luxury brands have the obligation to inspire and create meaningful emotional connections with their clients.Luxury brands must move away from what I often call the old “we we we” model of storytelling .
Consequently, luxury clients now expect be part of an exclusive community. Brands must provide platforms for interaction, fostering an inspiring and engaging two-way dialogue with their clients, and this is independent of being in a store or on a digital platform. Offering just another high-profile event or a limited edition product won’t cut it anymore. Experiences need to be immersive and transformative.
When we feel recognized, prioritized, understood and valued it evokes the strongest feelings of exclusivity. The country of origin concept can be a limitation if it’s not translated in something relevant for other countries and cultures. Just to say that a brand is from Paris, London or Rome means nothing if the ethos of the brand does not link up to the target audience.Today’s luxury clients, especially Gen Z and younger millennials, place a dramatically higher value on sustainability than ever before.
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