Analysis On The Characteristics Of Luxury Target Consumers

The luxury industry is the most famous industry that judges people by their appearance. But do the sales staff in the luxury industry really know their target customers? Luxury research and consulting institutions Epsilon and Luxury The answer given in a recent report of the Institute is no.

It is reported that most brands lose 80% - 90% of their customers every year, and only 10% - 15% of their customers can maintain good relations with sales staff. CEO of Luxury Institute Milton Pedraza said that the loss of about 50% of luxury customers every year was not due to product problems, but often the sales staff played a leading role.

Then the question arises: how to classify luxury target customers and what are their characteristics?

The report divides luxury target consumers into four groups:

Aspirational shopper (consumers who dream of owning luxury goods): Most of these groups want to own a luxury, but most of their consumption comes from discount stores or flash purchase luxury websites, and most of their consumption is not top luxury brands and expensive luxury goods. The cosmetics series of luxury brands are often their favorite.

　　Moments of Wealth (consumers who save money to buy luxury goods): These consumers are not loyal consumers of luxury goods, and their purchase frequency is small. They often prefer a luxury product and need to save money to buy it.

　　 Dressed for the Part (Consumers of fashion lovers): These consumers want to give people a fashionable and trendy image. They are more enthusiastic about everything than houses latest fashion , accessories, and the latest car models, on the other hand, because their/their consumption ability cannot afford luxury houses, but it is more than enough to consume thousands or tens of thousands of luxury goods.

True Luxe ("Tuhao" consumers): They don't have to worry about financial problems at all. Buying luxury goods is common.

In the above four categories Consumer group Among them, Aspirational Shopper is very easy to become Moments of Wealth and Dressed through age growth and job changes For the consumer of the Part type.

So, what are the characteristics and consumption modes of True Luxe? Epsilon A group of analysis is given through the consumption behavior of 30000 B2C luxury e-commerce website consumers. These consumers consume more than 30000 dollars of luxury goods annually, and each consumption exceeds 1200 dollars.

The main characteristics of True Luxe have overturned some people's or media's self righteous perception of the main consumers of luxury goods: 40-50 years old, women, fur enthusiasts, local tyrants... In fact, True Luxe Luxe's consumers are mainly male. According to the definition of Niches 3.0, most of these consumers are characterized by health, sports, travel, art and home products,

It is also worth mentioning that there is less than a quarter of True Luxe consumers will choose luxury e-commerce, and experience and interaction are what these people are eager to get when consuming, which indirectly proves the deep-seated demand reason why the popular concept of luxury e-commerce is bursting.