technology will become more extensively adopted by innovative brands,
which will be extended beyond the Internet and e-retail to include Mobile
Shopping and possibly iPod Shopping. There will also be advancement in
sophisticated consumer behaviour tracking techniques such as Neuro-market-
ing science, which utilizes the measurement of the reaction of brain waves to
track consumer response to marketing messages.
Consumers will also continue to be more demanding and assertive. They
will become more mature in their attitudes towards luxury, and satisfying
them will become more challenging. Their expectations from luxury brands
will include substance in addition to quality as a measurement of value. These
will be manifested in intangible qualities that are related to ethics and moral
consciousness. As a result, luxury brands will be expected to show more
socially responsible practices. Consumers will expect to have wholesome
experiences with every interaction with luxury brands. They will also expect
personal attention and the option of customized products and services.
The luxury consumer market will expand significantly and the influence of
new markets such as China, India and Russia will form the core direction of
several luxury brands. In addition, mass immigration in several parts of the
world will bring an exotic change to the luxury goods scene. At the same
time, consumers in the mature European luxury market and the growing
American and Japanese markets will have a different set of expectations.
Luxury brands will therefore be required to manage the cyclical position of
their consumers in different global regions.
The market environment will also evolve with additional new luxury brands
entering the market and mass fashion brands encroaching into the luxury
sphere. Other strategies like globalization and consolidation will also prevail.
These will intensify competition among luxury brands and reinforce the impor-
tance of carving a clear brand positioning strategy in the market. Innovative
brands will thrive, while brands with unclear messages will fizzle out.
Finally, the luxury services sub-sector will become a well-defined industry
that caters to the needs of luxury brands and consumers. These services will
include Brand Valuation, Luxury Intelligence, Market Research, Consumer
Research, Trend Tracking, Style News and Advisory, Lifestyle Branding and
Luxury Goods Exchanges. Most importantly, more books like this will be
written!The dolce vita style blast
Italy like France is a country known for fashion creativity and expertise. It has
been a major fashion force for centuries, from the period of the Roman
Empire until today. Italian fashion know-how and production expertise is
widely accepted as the best in the world. Brands like Gucci, Prada, Salvatore
Ferragamo and Bvlgari have contributed significantly to establishing an38
luxury fashion branding