Beyond the products you create, what makes the relationship with your brand truly irreplaceable?
After several years of slowdown, the luxury market finally seems to be returning to growth. This recovery will be driven primarily by the world’s two most powerful markets: the United States, the world’s largest luxury market with nearly $130 billion, and China.
But this growth will not be like the growth we experienced before the pandemic.
Luxury customers have changed. They buy less impulsively, compare options more, and expect much more than just a beautiful product. Experiences now take precedence over possessions: traveling, enjoying a special moment, and feeling an emotion have become more important than acquiring a new item. The sharp price increases of recent years have also created a certain distance between brands and a segment of their customer base.
To maintain their revenue, many fashion houses have naturally focused on their Very Important Clients (VICs). Private salons, ultra-exclusive experiences, and bespoke services—as well as in-store events, such as live portrait drawing—have become key tools for building loyalty among this clientele.
However, by focusing almost exclusively on their best customers, many have overlooked a crucial segment: aspiring customers—those who are just discovering the brand, who dream of becoming part of it, and who will build the VICs of tomorrow. Today, many of them no longer see a reason to walk through a store’s doors.
The conclusion is clear: what luxury customers are now looking for is no longer just an exceptional product, but a genuine emotional connection with a brand.
Expertise, quality, and heritage remain essential. But they are no longer enough. Today, consumers choose brands that reflect who they are, that tell a story they can relate to, and that evoke genuine emotion.
In this context, the store is regaining a central role. More than just a place to shop, it is becoming a place for experiences, connections, and creating memories.
Several priorities are emerging for brands:
- Give the brand more meaning. Quality has become a prerequisite. What drives consumer preference today is emotion, the brand’s personality, and the values it conveys.
- Create experiences for all customers. Consumers are investing more in experiences than in products. Events, gatherings, artistic or cultural collaborations, and personalized services help maintain a vibrant relationship long after the purchase is made.
- Reward loyalty rather than simply creating scarcity. Exclusivity remains important, but it should be seen as a form of recognition rather than a barrier.
These developments are profoundly reshaping the luxury sector. There is no longer a single, universal customer; instead, expectations are becoming increasingly diverse across markets and generations.
One thing, however, is true for everyone: loyalty has become more fragile than ever. Whereas a relationship used to take years to build, today it can be won—or lost—in just a few months. Would you like to offer your customers an unforgettable artistic experience? Contact Véronique Jacquart to design a custom event.
That is why one question has become essential for all luxury brands:
Beyond the products you create, what kind of emotional impact do you leave on your customers?
The in-store experience remains a key factor in attracting all types of customers, underscoring the strategic importance of brick-and-mortar retail. To discover practical ideas for offering a memorable experience to your best customers: https://veroniquejacquart.com/en/how-to-pamper-customers-who-already-have-everything/