This week we talk about whether luxury is being re-defined with the modern perceptions of luxury changing, the rise in spending by luxury brands on digital and social marketing, and Richard Carter from Rolls Royce talks about how important personalisation is for acquiring and retaining customers.
Refinery29 – Luxury Re-defined?
Technologies and trends are always in a state of flux but could it be that luxury itself is in the process of being redefined? This piece argues that, at least when it comes to fashion, there’s a strong case to be made. Traditional attributes such as rarity and workmanship are simply too narrow to cover how the modern consumer perceives luxury. Values of individuality, an eye for progressive design, and even functionality are some new watchwords. Over at the ft.com there’s further discussion too over market terminology; do the terms ‘accessible’ or ‘contemporary luxury’ really have any value? Read more on Refinery29 and at ft.com
Marketwire- Luxury Brands Increase Digital & Social Spend in 2013
A new survey of over 100 luxury brand marketers has revealed two interesting figures; 85% declared they would be increasing their digital marketing spend in 2013 whilst 72% said their social media budget would also be getting a boost. As affluent, time-pressed consumers continue to seek out and purchase their favourite brands online, particularly via mobile devices, premium brands seem increasingly keen to create new ways to engage with their customers outside of their bricks and mortar stores.
PSFK – Technology + Innovation = Personalisation
Personalisation is the key marketing feature in customer acquisition and retention says Rolls Royce’s Director of Global Communications, Richard Carter. The era of personalisation in luxury cars equating to monogrammed leather seats is long gone. This time ‘artisanal luxury is adapting to consumer desire and need for technology integration’. The Ghost Six Senses concept is Rolls Royce’s answer to the changing demands of the affluent customer. Read more…