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.
During a recent series of luxury masterclasses on ultra-high-net-worth individuals I was presenting in several locations throughout Asia, we took a closer look on one aspect.
When this attention wanes or is divided, the relationship immediately fractures. “I never give any brand a second chance,” is a typical comment I hear all the time from this top group of luxury clients.Waiting times are not acceptable for the ultra-wealthy. Time is their most precious commodity, forcing them to wait sends a clear message: They are not valued.
The urgency for comprehensive, transformative training cannot be overstated. Luxury brands must invest in programs that instill a deep understanding of the psychology of ultra-wealthy clients.
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