Laura Marell’s Post

🌟 The power of personalization in Luxury 🌟 In today's fast-paced world, personalization has become the cornerstone of true luxury. More than ever, consumers seek brands that not only understand their desires but anticipate them. The essence of luxury lies in those personalized touches whether it's a bespoke product, a tailored experience, or a brand that speaks directly to the heart of its customers. In an age where technology drives so much of our interaction, the challenge for luxury brands is to maintain that human touch, that sense of exclusivity and individual care. It's more than offering a high-quality product; it's about creating an experience that feels uniquely crafted for each person. As we navigate this blend of tradition and innovation, it’s clear that the future of luxury will continue to evolve around the art of personalization. ✨Brands that master this will not just survive they’ll thrive.✨ #Luxury #Personalization #BrandExperience #LuxuryMarketing #CustomerExperience

Cross-industry collaborations present a dynamic avenue for luxury brands to infuse innovation into their offerings, reaching beyond traditional boundaries to create unique products and experiences. These partnerships, ranging from technology and automotive to art and hospitality, allow luxury brands to leverage diverse expertise and perspectives, driving creativity and innovation. Such collaborations can lead to the development of cutting-edge technologies in materials, sustainable practices, or exclusive, experiential services that elevate the brand's appeal. By merging the best of different sectors, luxury brands not only expand their audience but also set new standards in exclusivity and innovation. This approach not only enriches the brand's portfolio but also reinforces its position as a leader in setting trends and exploring new horizons. As consumer expectations evolve, embracing cross-industry collaborations becomes a strategic necessity, enabling luxury brands to remain at the forefront of innovation and consumer engagement. Learn the psychology behind selling to luxury consumers at https://lnkd.in/gVnzg6pU. #LuxuryInnovation #CrossIndustryCollaboration #BrandStrategy #InnovationInLuxury #Trendsetting #ConsumerEngagement

Elevate. Emotion. Experience. These are the keys to captivating the elite 2% of luxury customers, according to Bain. As the market slows down, brands must focus on engaging and retaining these highly valuable clients, also known as VICs, to thrive. But competition for their attention is fierce! To succeed, brands must craft meticulously curated strategies that create an atmosphere of luxury and evoke powerful emotions. By doing so, they can cultivate loyalty among this exclusive consumer group. This will lead to sustained and increased spending from these valuable clients in the long run. #LuxuryBrands #LuxuryExperience #Luxury

Cross-industry collaborations present a dynamic avenue for luxury brands to infuse innovation into their offerings, reaching beyond traditional boundaries to create unique products and experiences. These partnerships, ranging from technology and automotive to art and hospitality, allow luxury brands to leverage diverse expertise and perspectives, driving creativity and innovation. Such collaborations can lead to the development of cutting-edge technologies in materials, sustainable practices, or exclusive, experiential services that elevate the brand's appeal. By merging the best of different sectors, luxury brands not only expand their audience but also set new standards in exclusivity and innovation. This approach not only enriches the brand's portfolio but also reinforces its position as a leader in setting trends and exploring new horizons. As consumer expectations evolve, embracing cross-industry collaborations becomes a strategic necessity, enabling luxury brands to remain at the forefront of innovation and consumer engagement. Learn the psychology behind selling to luxury consumers at https://lnkd.in/gT5V36qR. #LuxuryInnovation #CrossIndustryCollaboration #BrandStrategy #InnovationInLuxury #Trendsetting #ConsumerEngagement

💎 I'm excited to unveil my latest endeavor 💎 : a book that ventures into the uncharted future of #luxuryexperiences. This work transcends current trends, focusing on the timeless allure of #arts, #culture and the profound, #personalconnections that define #luxury. A specific section is dedicated to understanding the critical role of #authenticity, exploring how genuine connections, transparency and adherence to core values are pivotal for garnering customer loyalty and trust. This discussion aims to provide readers with deep insights into the dimensions of authenticity, illustrating its significance in establishing a lasting bond with consumers in luxury. With a backdrop of significant transformations in luxury retail, where physical stores evolve into experiential hubs and #digitalstrategies embrace platforms for expansive reach and #clienteling strategies for one-to-one communication, this book explores the intricate dance of #technology and #tradition. Drawing from extensive research and dialogues with industry pioneers, it offers a deep dive into the strategies that will shape the future of luxury. Read it to explore the fusion of human touch with technological advancement, aiming to redefine luxury in an era of inclusivity and digital integration! The empirical foundation is also drawn from 48 in depth interviews across Europe, the US and Asia and an #ExperienceLedStrategy assessment tested and refined in ten years of research that includes 560 field analyses, each assessing at least 3 brands. The longitudinal approach provides a deep dive into the evolving dynamics of luxury brand experience showcasing a rich expertise in the luxury world. Grateful especially to Cyrille Vigneron, Cartier; Jacopo Venturini, Valentino; Bartolomeo Rongone, Bottega Veneta; Serena De Marte, Tiffany & Co.; Catherine Alix-Renier, JLC; Maria Carla Liuni, Ferrari; Francesco Cefalú Mandarin, Mandarin Oriental Hotel Group; and many others that are properly mentioned in the publication that is already on pre-order and will be out soon. The book also delves into the transformative role of #digitalinnovation, #socialresponsibility and #advancedanalytics. Esteemed contributors, experts in their fields, offer specialized chapters that illuminate the path ahead. From digital transformation's reshaping of consumer engagement to the ethical imperatives driving brands towards greater social responsibility and the cutting-edge analytics forecasting tomorrow's trends, this book is a collaborative exploration of luxury's new frontier. Their insights provide a multifaceted view of how luxury brands can navigate and thrive in an evolving landscape. Stefania Carraro, Laura Pan, Guido Tirone.

Preserve > expand. Luxury is more than a product—it’s an experience, a feeling of exclusivity, and a deep emotional connection between a brand and its customer. But here’s the challenge: How do you scale that without diluting the very essence of what makes it special? As brands grow, the temptation is often to reach more customers, but luxury thrives on the opposite—fewer, but more connected and loyal clients. So how can brands balance growth with the high-touch, personalized service that luxury demands? Scaling luxury is a delicate art... It’s easy to lose the essence of what makes it special. To scale without diluting, focus on: → Preserving exclusivity: Expand carefully, keeping a sense of rarity. → Maintaining quality: Every interaction must reflect high standards. → Enhancing personalization: Use technology to create intimate experiences at scale. Remember: Luxury is about deep emotional connections. Keep the essence alive as you grow. #Luxury #scale #revenue #brandrecognition

😀 In the ever-evolving landscape of luxury retail, collaborations and cross-brand partnerships have emerged as powerful tools for innovation, creativity, and market differentiation. 😍 Increasingly, luxury brands are joining forces with artists, designers, and even entities from unrelated sectors such as technology or automotive to co-create unique products and experiences that captivate consumers and drive business growth. 👉🏼 This article explores the rising trend of collaborations in luxury retail and their impact on the industry. #topretailexpert #luxurybrands #luxurycollaborations #retailexperience #customerexperience #retailenvironment #retailconsultant

LuxuryLab 2018, an event that brought together key figures and brands in global and regional luxury, addressed topics such as new consumer profiles, artificial intelligence, communication and social media, sustainability, new technologies, and fashion trends. Held on May 21, 2018, at the St. Regis Mexico City, the forum featured international experts, including Fflur Roberts, Director of Luxury Goods Research at Euromonitor International, George Mitchell, Co-founder of Circos Brand Karma, Laura Chias from The Boston Consulting Group, among others. Attendees had the opportunity to explore the latest trends in the luxury market and understand their impact on the industry. The Future of Luxury was a resounding success, emphasizing that luxury is a sector in constant evolution. . . #LuxuryLabGlobal #luxurymarket #statistics #data #luxurygoodsmarket

Weekend Trend Snapshot: Factors Influencing the Economic Downturn on Luxury Brands ✨ The luxury market is dealing with a distinct set of difficulties in 2024. Here's a brief summary of the main causes of the fall in the luxury market for luxury brands: ✅ Global Economic Uncertainty ✅ Shifts in Consumer Behavior ✅ Supply Chain Disruptions ✅ Rising Inflation ✅ Digital Transformation ✅ Market Saturation 📉 Adapting to the New Landscape Luxury brands need to change with the times and innovate. Providing distinctive, value-driven experiences, improving digital presence, and embracing sustainability are essential tactics to get through these trying times. Stay tuned as we keep an eye on and study trends affecting the luxury industry. #luxurymarket #economictrends #consumerbehavior #luxurybrands #marketresearchcompany

Despite recent macroeconomics and geopolitical events, the luxury goods industry remains strong. The global revenue of the top 100 luxury companies grew by 8.4% CAGR between 2019 and 2022, reaching $347 billion, a new record for the sector. #Luxury tends to be more resistant than any other #retail segments in times of crisis, however it is now experiencing fast changing consumer needs and preferences. For a new generation of customers, luxury has a new definition. It now means craftmanship, excellence and storytelling but also #authenticity, #sustainability & #trust as new core values. This is pushing luxury brands to find new ways to reinforce their existing values while demonstrating to customers their commitment to such emerging priorities. Recently, the concept of a Digital Product Passport has quickly emerged as a strong solution for #Brands to address these new challenges.