Havas Luxhub presents - The luxury customer journey

2015-10-02 09:39

LuxHub, a strategic consulting practice of Havas, revealed its first global research, The Luxury Customer Journey (LCJ). The study was conducted in 8 markets with over 6,400 consumers and 25 brands, aiming to unveil and highlight the most significant differences in the behaviour and expectations of the modern luxury consumer in key European markets (Spain, France, Italy and Germany) and also in the US, Middle East and China.

tl_files/buyingluxury.png

The research revealed that the features most associated with the top well-known luxury fashion brands are high quality (47%) and being considered ‘fashionable’ (32%), however only 26% perceived recognisability as a key feature.
The main reason people buy a luxury good is self-reward (51%), followed by a special sales/convenience price (48%), proving that there is a strong rational approach towards purchase today that threatens many luxury brands’ founding conviction in emotional added value.

The study also highlighted that the online sales represents only 16% of total sales, meaning that the physical interaction with the brand still has high relevance considering the luxury fashion products. However, it is important that over 40% of traditional sales is strongly impacted by digital content, online advertising and web editorial.

Considering the journey to the purchase, consumers could be influenced by variety of interactions with different content and communication assets as well. Therefore, LCJ defined the top 6 touch-points with the highest impact on brand awareness and intention to buy: boutique experience (61,3%), boutique windows (60,8%), official brand websites (54,7%), face to face opinions of friends/family (52,1%), search engines (45,8%) and on-line fashion publications (43,5%).

tl_files/services_luxury.png

According to Isabelle Harvie-Watt, Global CEO Havas LuxHub, the key lessons learned from The Luxury Customer Journey is that the traditional luxury fashion brands need to shift their focus to their customers and on how to engage them. Understanding their data, their customers, becoming global yet increasingly local and personalized in their approach and becoming much more digital, but at the same time experiential will be essential in future.
Based on these insights, The Luxury Customer Journey could provide valuable assistance in reaching the mentioned goals and could become the base for the definition of any strategic marketing plan today.

Go back