Luxury. Luxury Dollars: The Check is in the Mail. Second City Style Fashion Blog

Fountain of 30

April 13, 2007 • Fashion

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Which appeals to you more: Net-a-porter or Newport News? Creating a catalog these days takes more than just a price and a picture, but apparently the old-school medium is still going strong. According to Brandweek‘s Sandra O’Loughlin, among other things " the study revealed that e-mail is the least able vehicle for presenting a luxury brand image. More effective methods, Neal said, include direct mail, catalogs, telephone calls and special events that involve the consumers." Why? Apparently, if people are going to give away their cash they want to talk to the employee making minimum wage (plus commission?). You know, it gives the whole transaction a personal touch… For the full scoop go to Brandweek Luxury Survey Reveals Marketing Gaps By Sandra O’Loughlin NEW YORK — A recent study by Echelon Marketing Group, McLean, Va., reveals luxury marketers need a better economic understanding of their target, the most affluent consumers in the U.S., and more effective means of reaching them. “Marketers rely primarily on four categories of data—demographic, geographic, behavioral and attitudinal—however, luxury marketers not so much,” said Echelon president Don Neal. “To understand who can afford expensive products and the impact of money on their attitudes and behaviors, they also need to consider a fifth category based on economic insights.” Neal calls that fifth category “econographic” data. Most luxury marketers operate more on intuition than this data, he said. The study also revealed 85% of luxury goods marketers want to engage in more one-on-one marketing; however, only half of them actually do so. The study also showed consumers assume luxury brands have large marketing departments, which Neal said is not true. “Most are good at brand imagery, but not so much at data-driven marketing or focused consumer messaging,” he said. Finally, the study revealed that e-mail is the least able vehicle for presenting a luxury brand image. More effective methods, Neal said, include direct mail, catalogs, telephone calls and special events that involve the consumers. “When invitations are sent to a select group to test drive cars during a special event, research shows six out of 10 of them wind up buying a car,” he said.

–Joanne Molina for Second City Style

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