The definition of luxury is changing. So why do so many luxury brands still position themselves using functional aspects like price, scarcity, and prestige?…
The definition of luxury is changing. So why do so many luxury brands still position themselves using functional aspects like price, scarcity, and prestige? Our Senior Strategist, Emma Marie Lea, offers an alternative to the standard luxury pyramid model.
As the definition of luxury moves away from traditional ideals of status, wealth and ownership brands need to understand there is a new consumer mindset emerging. Void of loyalty, price, and sometimes even ownership (but certainly exacerbated by their values), it impacts the way people are connecting to and consuming luxury brands, products, and experiences.
In our latest report, “Spectrum Thinking: A new lens on luxury” we challenge conventional thinking around traditional pyramid-based positioning in the luxury category and introduce an alternative model for brands to meet today’s fluid luxury mindset.
two illustrations. One on the left of the traditional luxury pyramid. The second on the right of the new luxury spectrumWhether your brand sticks within the confines of the luxury power pyramid, or if you are already starting to play to the spectrum, the insights and examples in this report will help you navigate the ever-evolving luxury landscape.
Read the report here.
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