Tuesday, April 04, 2006

Unlocking the DNA of luxury

Only ten of the world's top 70 luxury brands produce 80 per cent of the profit. To better understand this elusive world, UK luxury goods consortium, Walpole commissioned Added Value to undertake a major research study across three continents. The study cracks 'the DNA Code' of luxury brands, categorises luxury consumers and compares their motivations in different markets, revealing that what drives consumers towards luxury brands is the most primal of triggers: the need to feel more desirable.

A major research study across three continents into what drives consumers towards luxury brands reveals it to be the most primal of triggers: the need to feel more desirable.

Commissioned by Walpole and undertaken by Added Value, the research cracks 'the DNA Code' of luxury brands, categorises luxury consumers and compares their motivations in different markets.

"One hundred years ago luxury businesses knew their customers. Often by sight. Today, too often, luxury brands don't really understand the fast-changing, varied and complex set of attitudes of the people who buy their products," says Guy Salter, deputy chairman of Walpole. "This is partly because there is surprisingly little good data compared to other consumer sectors. We commissioned this unique research to help to change that. We were particularly interested in comparing motivations of customers from different markets - and understanding what resonates with them and what doesn't."

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