Neiman Marcus Group’s Post

While the image of a luxury brand undeniably plays an important role, it is the alignment of the brand’s values with the buyer’s self-perception that seals the deal. Much more on the importance of self-perception in this week’s Diamond Edge LinkedIn newsletter. Check it out! The link is in the comments. #luxurysales #luxurymarketing #keynotespeaker #selltotherich

One of the first lessons I learned a about luxury: true luxury never discounts its prices, especially for its highest-priced products. Discounting can diminish the desirability and perceived value of a product. Instead, if you want to show appreciation to your clients, consider gifting them something that money cannot buy—unique experiences, personalized services, or exclusive access. This approach not only maintains the prestige of your brand but also strengthens the emotional connection with your clients. #LuxuryMarketing #CustomerExperience #BrandValue #ExclusiveGifts

We specialise in helping luxury brands stay at the forefront by creating products and experiences that go beyond fleeting trends. With over a decade of experience working with high-end consumers, we know that the key to maintaining your place at the top of the global want list is understanding the deeper values and aspirations that drive luxury purchases. As highlighted in Jing Daily, today’s luxury buyers are not just looking for products - they’re seeking symbols of identity and status that align with their personal values. This insight is crucial for brands aiming to create lasting connections with their audience. We work with our clients to decode these emotional drivers, ensuring that every product, message, and experience speaks directly to what matters most to their consumers. Interested in learning how we can help elevate your brand’s strategy? Let’s start a conversation. #LuxuryBrands #ConsumerInsights #BrandStrategy #LuxuryMarketing #LacunaAgency #MRX #MarketResearch

We specialise in helping luxury brands stay at the forefront by creating products and experiences that go beyond fleeting trends. With over a decade of experience working with high-end consumers, we know that the key to maintaining your place at the top of the global want list is understanding the deeper values and aspirations that drive luxury purchases. As highlighted in Jing Daily, today’s luxury buyers are not just looking for products - they’re seeking symbols of identity and status that align with their personal values. This insight is crucial for brands aiming to create lasting connections with their audience. We work with our clients to decode these emotional drivers, ensuring that every product, message, and experience speaks directly to what matters most to their consumers. Interested in learning how we can help elevate your brand’s strategy? Let’s start a conversation. #LuxuryBrands #ConsumerInsights #BrandStrategy #LuxuryMarketing #LacunaAgency #MRX #MarketResearch

From Rick Owens to Blackpink's Lisa, luxury brands faced greater scrutiny in 2024, with customer clashes, celebrity controversies, and cultural insensitivity underscoring the need for adaptability. What lessons can they carry forward into 2025? Read more here: https://lnkd.in/ez4DebuK

THE FUTURE OF LUXURY With luxury consumers tightening their wallets and younger generations showing declining advocacy for luxury brands, the personal luxury goods market faces a potential -2% erosion in 2024. In our annual Luxury Goods Worldwide Market Study, experts Claudia D'Arpizio and Federica Levato from our Fashion & Luxury practice discuss why leading with creativity, prioritizing top customers and focusing on personalization should be key strategies. Learn more here: https://atbain.co/3O7Lzsb

Quiet Luxury: A New Meaning There was a great deal of talk about quiet luxury in 2024. The discussion was about fashion, products, and services where brand names and logos were not visible. This understated approach to the finer things in life was and is reminiscent of what I learned growing up. Someone would educate me that the watch, shoes, or other item was really high-end. But not only was the item, “quiet,” the buyer was too. That is what happened in 2024. Many noisey brands folded or had to retreat. And many noisey buyers had to do the same. We are now in a market where luxury is a bit more quiet on the buy-side, which means if you’re on the sell-side, more refined skills are required. It is time to get your mind around the idea of representing your products, services, and experiences in ways that better align with more serious clients. Can you do it? You certainly can! https://lnkd.in/euVGUmvz

Luxury brands use Scarcity to make their products seem special. They carefully control how many items they sell and where they sell them, making people feel like they're getting something rare. This makes customers want them even more. When things seem hard to get, people think they're more valuable. This makes them eager to buy. By doing this, luxury brands stay exclusive and keep people excited about their products. It's all about making things feel special and important, so people keep coming back for more. #louisvuitton #luxurybrands #scarcity #psychology

"The term "dupe" stems from duplication, but it also speaks to consumer sentiment around pricing today - they do feel duped as luxury brands have exponentially and continually raised their prices, essentially locking out middle-class consumers". But when it comes to dupe brands we have to ask: what is their differentiator beyond offering good prices? What's their storytelling? While dupe brands may offer competitive prices, they often fall short in delivering the rich heritage and narrative that the legendary luxury houses embody. Conversely, a hard truth that the market trends seem to uphold is that established luxury brands struggle to justify their continuously increasing and exclusive price points. To navigate this dichotomy Irene Buffa - The House of Preloved Luxury advocates for a paradigm shift in luxury consumption by providing an accessible and sustainable platform for buying, selling, and trading luxury goods. This model aims to maintain the curated selectio, quality and legacy associated with luxury fashion while offering affordability and environmental consciousness.

Ever walk into a luxury boutique, get the warm welcome, spot something you adore, and then hear those magic words: ‘This is the last piece in stock’? That moment right there is when the power of scarcity kicks into high gear. You’re suddenly weighing your options—grab it now or risk missing out forever. There’s no denying the pull of the ‘last piece’ effect on our human nature, and knowing how to wield it without overdoing it is a game-changer. Key Principle: Emphasize rarity, limited availability, or exclusivity. Why It Works Scarcity is part of Cialdini’s six principles of influence. When items feel rare or risk selling out, desire and urgency shoot through the roof. It’s the fear of missing out that makes us want to claim our spot among the lucky few. Tip Be transparent. Savvy luxury buyers can sense inflated hype a mile away. Align scarcity messaging with actual supply constraints, and customers will appreciate the honesty. You see, the right hint of scarcity can turn a consumer’s casual interest into a decisive “Where do I sign up?” The key, of course, is authenticity: offer a genuine reason for customers to feel part of something truly exclusive, and they’ll reward you with their enduring loyalty. Your Turn How have you used—or encountered—scarcity in a way that really sealed the deal? Share your stories in the comments! #luxury #sales