Luxury goods mostly favor consumers with high financial streams, though anyone can afford the luxury to a certain extent. According to a Vogue Business report, consumers’ interests are slowly drifting towards the products, with the market, as of 2019, having a revenue of $308 billion worldwide. Research also shows that only the top 100 brands boost wealth in the industry with over half the revenue ($281 billion). With many luxury brands worldwide, one could wonder how these leading brands are tremendously dominating the market. Other brands could utilize some of these acts to get rid of consumers’ ghost treatment and establish a positioning too.
Research shows that emotions mainly drive customers to purchase a luxury product. It could be either on how they feel about themselves or how they feel about a particular brand. How brands establish themselves triggers emotions like love, content, trust, fear, and confidence, among others. There is a French Way of Marketing Luxury Goods with incredible strategies to spur buyers to a brand emotionally. Surprisingly, it was brought to light by a now 30-year-old Parisian, Tony Lux, who offers marketing and consultancy services. Just as his method has built large brands in France, so is his brand in a short duration. These are what the French Way does to trigger the emotions of buyers.
- Authenticity is key
It’s not enough for buyers with a profound connection with luxury products that a product is well designed or is of the best material. To these consumers, they seek truth in brands and the value they put in their work. It gives a deep understanding of a brand’s essence. It also relates to factors like trust, reliability, and quality. It triggers emotions like content, trust, confidence, and security. These emotions play a decisive role in driving you to make purchases.
Tony Lux insists on striving to make your brand stand out, ignoring your income at first. He urges companies to avoid reducing prices to lure consumers, as this is a short term strategy. Your finances are likely to fail in the long run. A brand like Louis Vuitton that has implemented the French Way of Marketing Luxury Goods, and one of the leading brands worldwide, amassed a wealth of $15 billion, making a 30% profit margin, despite a pandemic in 2020. This achievement was all because of its authenticity.
In 1764, King Louis XV of France gave permission to found glassworks in the town of Baccarat. It created the original and authentic story still used nowadays by a French manufacturer of fine crystal glassware. A competitor which would want to start the exact same product could, but without the city attached to their production they won’t go far explains Tony Lux. Authenticity is key.
- Value is relative and can be manufactured
People judge what to buy based on value; on the worth of a business. One would prefer having one bottle of wine at a bar other than several drinks in the house due to the bar’s environment. Value brings about comfort and sophistication that lure people to your brand. People discern value on judgments, personal perceptions, motives, and actions.
It is hard to beat the story of a brand when done properly explains the founder. Your own story, your own background, your own unique skills are all making you absolutely unique in a way. My daily work is to find this hidden value and communicate it to the public.
According to research by Vogue Business, the top 10 brands in the luxury market contribute over half the amount of the 100 brands’ revenue. These brands tremendously dominate the market due to the value they put on their products and services. Other statistics by Statista show French is among the top 10 countries in the market. It is all about the worth of their products and brand.
- Reliability should be proven in advance
Reliability is a process of being timely and building trust with clients. When a firm can prove its trustworthiness, it triggers emotions like love, trust, and comfort. It’s undeniable how a passion for a brands’ processes makes us visit a company repeatedly as we refer it to others. Brands could achieve reliability by moving their business online to ease the processes involved in purchase and delivery.
A simple way to prove your claims is to offer an incredible guarantee.
This strategy has worked pretty awesomely with Tony Lux, which company is offering a 100% money back guarantee on all of his offers, in a consulting market quite often against this philosophy. It seems to work, having earned £1 million in 40 minutes, generating over 6 million sales in a webinar, for one of his recent clients. According to him, there is a thrill in easing online sales processes and proving, demonstrating how unique you are in advance.
Compared to the mainstream products, which cannot be foregone, luxury goods are purchased when one feels secure with the money they are holding. However, striving to create these emotional impacts is sure to lure consumers into your brand anytime. When you invest in what you do, customers love your work and products. With the French market amassing $17,102 million in 2021according to research, their marketing methods are certainly useful. To contact Tony Lux or to access his services, follow any of these accounts: