The global luxury market has displayed a stable growth with increasing diversity. However, challenges are seen in the forecast for luxury brands as they face competition due to the emergence of new trends that have the ability to influence the luxury industry. It is imperative for luxury brands to keep up with trends in order to effectively engage consumers with ever increasing demands.
Read More
According to the white paper, “Five Luxe Trends for 2015” by marketing expert Pam Dazinger, millennials will have the highest potential to become the largest spending generation in history by 2035. Bain & Co also predicts that millennials will heighten the value of the luxury goods industry to $324 billion, accounting for 45% of the market by 2025. This entails a challenge for many luxury brands as research reveals that traditional business models do not resonate well or align with their values and expectations.
Read More
Virtual Reality (VR) increases the effectiveness of marketing strategies and improves sales which eventually leads to a higher profit margin. With the wide array of benefits from using VR, real-time customization is one of the notable few. Here, we will take a deeper look and explore the advantages of real-time customization for yachts.
Read More