Do affluent consumers prefer brands that seem out of reach to the general public? Luxury Daily asked Pilot PMR’s own David Doze this week for his thoughts on the power and mystique of the untouchable luxury brand. It turns out that its days may be numbered.
“Increasingly, affluent consumers are seeking out humanized brands,” says David. “In a hyper-social world, consumers want to be able to share the values held by the brands they wear and consume. Brands can humanize their image by taking a point of view and getting involved in issues and ideas that are meaningful to their audiences. Great brands have a story to tell – one that consumers are anxious to share.”
Luxury Daily notes the coming sea change in marketing for prestigious brands. In fashion, for example, social and digital media have diminished the power of runway presentations, product showcases and trunk shows, giving an edge to more accessible offerings.
This is in stark, sometimes comical, contrast to the ethos of earlier brand ambassadors. The quotable Karl Lagerfeld, Chanel head fashion designer and creative director, once said “The middle has not enough class that I think about the middle class.” The man is relentless to turn a phrase. But his notoriety underscores at least one enduring lesson: Successful brands demand attention.
Read more about it in Luxury Daily’s article on marketing exclusive brands.