BY Kathy Crosett
What are luxury shoppers looking for? AudienceSCAN data shows that around 8% of U.S. adults identify as luxury product shoppers. These consumers have a unique profile and distinct preferences when it comes to advertising. Here’s what your accounts need to know.
What is the outlook for luxury shopping?
Sellers of luxury goods and experiences have plenty to cheer about. After the post-
Luxury goods shoppers are not just focused on acquiring the latest must-
Luxury goods shoppers have shifted from “social validation to self-actualization.”
These consumers noted in our AudienceSCAN survey that they are far more likely than average adults to take trips to ski resorts and to travel internationally. And these international trips will be to destinations not necessarily prized by earlier luxury shoppers. For example, Morocco and Croatia are now trending.
Similarly, McKinsey’s report about the luxury market reveals the motivations behind luxury purchases. In reviewing luxury goods and experiences, consumers seek out options that deliver:
- Shared values 91%
- Emotional connection 90%
- Buzz/
advocacy 84%
What qualities should luxury brands promote in marketing?
McKensey analysts point out that luxury goods shoppers are open to challenger brands. This trend threatens established luxury brands. To counter that threat, analysts recommend a change in marketing. They call for brands to be “more responsive to cultural trends.”
When promoting luxury goods in the past, marketers succeeded with a scarcity pitch. However, analysts say today’s more successful messaging is all about “recognition, access, and experiences.”
In addition, as AudienceSCAN shows, luxury shoppers are far more likely than average to check out a brand’s stance on political angles. And they will only make a purchase if they like what they see. Encourage your accounts to be mindful of these details.
The emphasis on experiences matters
Because experiences are so important, brands must also find new ways to emphasize what they deliver. The focus on healthspan is growing as a luxury experience. Consumers are seeking out private clubs and participating in wellness programs. According to AudienceSCAN, luxury shoppers are far more likely than average to purchase fitness tracking bands, watches or other wearables. If your accounts are targeting luxury shoppers with specific health concerns, check out the health conditions database in AdMall.
Why luxury shoppers buy used goods
In an interesting twist, also highlighted by Bain analysts, luxury shoppers often purchase pre-
Quality never goes out of style
Quality still matters. As AudienceSCAN shows, nearly 46% of these consumers will pay more for higher-
How are luxury shoppers using AI?
In their survey, McKinsey asked both U.S. and Chinese luxury shoppers about how they use AI. Overall, around half of these consumers use AI for discovery, exploration, evaluation and making a purchase decision. Specific categories in this study ranged from apparel to jewelry to bags/
The shift to AI for discovery represents an opportunity for challenger brands. As McKinsey analysts point out, “brands may need to compete for algorithmic relevance as aggressively as they compete for cultural relevance.” Being featured in the AI overview is one way to be noticed. Getting there means shaping content.
Help your accounts streamline their content for AI overview optimization. Check out the AI Search Visibility tool in AdMall for the best way to stand out. With the right outreach, your accounts can reach luxury shoppers.
Image by Eko Agalarov on Pexels.
