chapter 3 67the luxury fashion consumer- The luxury consumer is highly demanding. The luxury consumer has
grown from novice to smart. Smart people are less accepting of anything
sub-standard and when people become knowledgeable, they also become
demanding. Today’s consumer wants individual attention and instant satis-
faction. They also want a personal shopper, style adviser and shopping
assistant at their disposal. They crave customized products and services
both offline and online. They expect luxury brands to understand their
needs in advance and to satisfy them. They are also interested in the ethi-
cal practices of the brands they endorse and the sources of the labour and
materials of the products they buy. - The luxury consumer has high expectations. Luxury brands already
offer alluring products and high-standard services, but consumers are
asking for more. Consumers want originality and authenticity in luxury
products. They want to understand their source, material components and
how they were made. They want genuineness in a brand’s promise and its
delivery. Consumers also want to be shown respect, to be greeted by their
names in the stores, to be given privileged information through one-to-one
marketing, to be invited for limited-edition product previews and for
private shopping. More importantly, they want to be constantly delighted
and surprised. - The luxury consumer has a disposable attitude. The disposable attitude
of luxury consumers is fuelled by multiple product launches; the pressure
to be current and trendy; the speed of evolution of the global market; and
the increasing pace of technological advancement. As a point of compari-
son, in the electronics goods category, home entertainment media has
moved from VHS to VCD to DVD and now to iPod and iPod Video, in a
space of ten years. This rapid development fuels disposability of goods
beyond electronics. Luxury fashion consumers, who also use electronic
products, have transferred this behavioural trait to luxury fashion. Also, as
indicated earlier, the introduction of fast fashion has also fuelled the
disposable nature of luxury consumers. Luxury consumers are no longer
content to use a single luxury item for five years, without acquiring more.
In the same way, they are no longer loyal to a single brand and have
become brand hoppers. - The luxury consumer has strong values and principles. The high level
of moral ethics seen in the wealthy consumer segment is as the result of a
different source of wealth. Most of the world’s new wealthy consumers
accumulated their riches through genuine discipline, persistence and hard
work. It is uncommon for consumers with these personality attributes to be
frivolous in their spending. Also, luxury consumers are no longer content
with being outsiders. They want to be in the know of the ethical manage-
ment practices of luxury brands. While these consumers appreciate and
frequently purchase luxury goods, they are more likely to be associated
with the luxury brands that share their moral values. These are the brands