Regardless of wealth, we all buckled down during the recent recession. But the economy has rebounded and there is endless opportunity for luxury marketers. There’s one caveat. Luxury marketers must be strategic in their approach and most of all, truly focus on the consumer. The era of the aspirational consumer is gone. Now, luxury consumers demand your full attention and welcome personalization and customization.

At yesterday’s Luxury Daily Luxury Insights Summit, we all walked away with a wealth of knowledge (no pun intended).  Cara David, managing partner of...Read more

There are currently almost 15 million millionaires in the United States. There’s an expected 10 million new luxury consumers each year. You do the math. There’s a vast audience of potential customers but not everyone has the same capacity and affinity to buy your products and services. That’s the hard part. Best of breed luxury marketers learn about their current customers and build a look-alike target audiences.Read more

In a recent TravelWeekly article, Emmanuel Perrin, CEO of Cartier North America, was the first to say it: "Client care is the final frontier...You can't go wrong investing in client experience... What is good for the client is good for the retailer and is good for us." Today's luxury buyer might not be so easily seduced, at least not by brands. Jim Taylor, vice chairman of the research firm YouGov, presented the findings of the Survey of Affluence and Wealth, conducted in partnership with Time Inc. And those findings were mixed at best for the audience of luxury CEOs and marketing executives from the fashion, automotive, jewelry, beverage, retailing and travel industries.Read more

The world of luxury continues to evolve. Luxury consumers have shifted their mindset …and their wallet. We experienced the shift from a community where Affluents wanted to be noticed to more of a sense of community where value and personal worth takes precedent. As noted in A Tale of Two Markets: A Global Perspective on Affluents and the Business Elite, the mid-2000s boom was marked by a shared sense of what luxury meant – the imagery of yachts, private jets, and classic (if sometimes ostentatious) brands was pervasive. Read more

In the education sector, a high performing organization is one that, on average, raises substantially more money per full-time student than its peers.  So, what is it about these high performing organizations that enables them to have such effective fundraising programs? It all starts with their investment in data, analytics and research.  High performing organizations (HPOs) tend have a higher number of prospect research staff (roughly twice as many) and spend more on data and analytics tools and services than do their peers (roughly twice as much).  In particular, high performing organizations use predictive modeling much more often than do their peers.Read more

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