GLOBAL 2016: Feeling more entitled to indulge, consumers also seek substance
There is a sense of entitlement among luxury customers, a feeling that it is OK to reward yourself with an indulgence that you’ve coveted. At the same time, discerning consumers don’t want to buy luxury simply for the sake of showing off the badge. There needs to be substance or provenance. Luxury brands are increasingly engaging customers through bespoke experiences that money alone cannot buy. In the luxury car sector, this could mean gaining a comprehensive understanding of the craftsmanship and attention to detail that goes into the design, build and delivery of luxury automobiles. The experience could include not merely a private factory visit, but also meeting core personnel involved in the key stages of the design and build process, and peering into the future by viewing upcoming products and then being allowed to offer first-hand insights to luxury automotive designers and engineers.