Analysis of Characteristics of Luxury Consumer Target Consumers

The luxury goods industry is the most famous and attractive industry, but is it true that salespeople in the luxury goods industry truly understand their target customers? A recent report from the luxury research consultancy epsilon and luxury institute gave no answers.

According to reports, most brands lose 80%-90% of customers each year, and only 10%-15% of customers can maintain a good relationship with sales personnel. Luxury institute CEO milton pedraza said that the loss of luxury goods about 50% of customers every year is not due to product issues, often the salesperson has played a leading role.

Then the question arises. How do the luxury target customers divide? How are their characteristics?

The report classifies luxury target consumers into four groups:

Aspirational shopper: Most people in this group want to have a luxury item, but most of their consumption comes from discount stores or flash purchases of luxury websites. Their consumption is also mostly non-luxury. And expensive luxury goods, luxury brand cosmetics series is often their / their favorite.

Moments of wealth: This part of the consumer is not a loyal consumer of luxury goods, its purchase frequency is relatively small, often a fancy luxury goods need to pay to buy, so repeated.

Dressed for the part: This part of the consumer wants to give people a stylish look that follows the trend. Compared to the house, they are more passionate about fashion, accessories, and the latest car models. On the one hand, it is because their/and their spending power can't afford luxury houses, but spending thousands of dollars and tens of thousands of luxury goods is more than enough.

True luxe ("local tycoon" consumers): They don't have to worry about financial issues at all and buying luxury goods is a common practice.

Among the above four types of consumer groups, aspirational shopper can easily become a consumers of wealth and dressed for the part through age and job changes.

Then, all the issues that luxury goods are most concerned about, what are the characteristics and consumption patterns of true luxe? epsilon has given a group of analysis through the consumption behavior of 30,000 b2c luxury e-commerce website consumers. Luxury goods more than 30,000 US dollars, and each spending more than 1,200 US dollars.

The main characteristics of true luxe subvert some popular or media self-perceived perceptions of the major consumers of luxury goods: 40-50-year-old women, passionate fur, local tyrants... In fact, true luxe consumers are dominated by men, and According to the definition of niches 3.0, most of these consumers have characteristics such as health, sports, love of travel, love of art, and love of home products.

It is also worth mentioning that less than a quarter of true luxe consumers will choose luxury e-commerce, experience, interaction is the group desire to get at the time of consumption, which indirectly proves that these years of hot luxury goods The reason why the e-commerce concept is bursting in the bubble is the deep demand.