You would think that in the current global environment luxury is a difficult sell. Value, as a sort of virtuous characteristic, has crept back into the conversation.
Yet, income levels are polarized, and the demographic top-tier wealth, here and abroad, supports the ultra-brands that command big dollars.
This miniscule percentage of global pop is nevertheless a huge reservoir that is mined for purchase.
Is that branded watch worth $10-20K or more?
I have to wear my…I have to drive my….Maybe the more revealing term is authentic. And that merges into ‘prestige.
If the narrative is radical premium we can presume that it’s the best available, the highest quality, and, not too subtly, ‘the predominant must-have.”
Naturally this is supported with properly placed ads, amped up social media, billboarding on internationally televised sporting events and influencer-advocates often referred to as ambassadors.”
The story is the thing. The thing becomes the story.
Taking some time to reflect on this interesting conversation from Luxury Society which you can find here: https://www.luxurysociety.com/en/articles/2019/06/agility-luxury-how-brands-can-confidently-face-tensions-todays-industry/
Norman Kay is the CEO and Chief Creative Officer and inspiration behind IBC Shell’s creative intuition and market influence. He has directed award-winning packaging and branded consumer identity products for established global brands including Grey Goose Vodka, Estee Lauder, Chivas Regal, Swiss Army, Victoria’s Secret and Bombay Sapphire Gin. Norman’s work has received The Global Design & Advertising Award, The American Graphic Design Award, The International Award of Excellence for Visual Arts, and The American Packaging Design Award. He has lectured and authored articles on design, packaging technology, the magnetic forces of packaging, and amplifying the brand experience.