We had to dish on this new and very interesting survey that has just come out, predicting which fashion-forward and luxury labels will prevail amidst the financial crises and actually come out on top at the end. New York-based company Abrams Research conducted this survey polling 100 luxury-industry experts including executives, designers, buyers, and editors asking them to predict future trends for the production and sales of high end labels. The brands that surfaced on top, Topshop and Chanel, could not be more different in the marketing, distribution, and overall demographic of targeting their goods. So what do they have in common? Smart selling techniques. “These brands represent two business strategies that can survive the
recession. You either stick with discount prices and strategically
market your products, or you stay true to your loyal fan base and don’t
compromise the quality of your goods, so as not to dilute your brand, " said Dan Abrams, chief executive officer of Abrams Research, and chief legal analyst for NBC and MSNBC.
Chanel's 2010 Cruise Collection
So what strategies can be used by other labels in order to lengthen their lifeline?
Abrams suggests two words: get online. Experts who took the survey recommended "innovative advertising" as the most effective tool of the internet, followed by fostering partnerships with fashion-luxury blogs and using the insanely popular social networking sites. Abram says it is possible to find a balance between using the web to advertise a luxe brand while maintaining it's lofty status. "Brands need to figure out a way to still be exclusive within the social
media platforms, because it’s an enormous marketing opportunity.”
Article and Photo Source: WWD
-Alia RajputSee the Top Ten Summer 2016 Trends for Women Over 40
Tags: Abrams Research, Alia Rajput, buyers, Chanel 2010 Cruise Collection, chief legal analys, Dan Abrams, designers, editors, executives, MSNBC. luxury-industry experts, NBC, recession, Topshop and Chanel, WWD