Most people’s lifestyle today is about showing off what we have, and we do that wherever we can to show other people how good we are. Whether it’s on social media or in real life (on every festival, at parties), we all want to come across as successful, happy and healthy. However, what makes us stand out when someone takes a peek at our life, is usually the brands that we wear and the brands that we own.
When someone says the word ‘luxury business’, they may mean any brand or even an antique shop. This is a great place to start if you want to invest in some luxury goods for yourself. Some material objects matter more than others, so make sure you invest in something you either use every day – or something for a special occasion.
If, on the other hand, you are a luxury trader – it is really important that you portray a luxurious atmosphere and branding.
You need to connect with the customer and make them feel valued – especially when they are paying so much money for their products.
Why luxury businesses are so attractive:
It speaks for the client – and that antique clock in their living room is going to stand out among everything else in that room. Their taste will be judged according to it and that’s wht their choices when it comes to luxury goods and investments matter. The best part about luxury goods is how these items prove what talking often cannot – that the customer is living the dream.
It elevates their level – everyone is spending on the necessities, but we don’t turn around on the street to get a second glimpse of people who live ‘medium’ lives. We don’t care if an old Ford drives past us on the street. Instead, we want to see a luxurious car. We want to think that we could have something like that someday. When we invest in luxury we invest in our public persona and our reputation – it all goes hand in hand. It’s like the feeling of staying at a luxury hotel in Hobart; it makes you feel like a celebrity! Even if it was a boutique hotel in Hobart, you could still feel amazing, as long as the luxurious vibe is there.
It gives us the feeling of owning – after all, who would not want to have all those things in their house – the kind of goods that could be referred to as ‘priceless’.
It indicates culture and tradition – Most luxury goods today come from brands that are over 100 years old. Think about all the old fashion houses, for example. That means that many luxurious products have had long life, maybe it is their own journey or the journey of the owner. But these products bring stories to us, times that they have survived, to eventually find their way to us. That’s real quality. That’s why history matters.
Why is it attractive to a business person?
Because of its global reach – this stands true for brands like Rolex and Mercedes. Names like this open up opportunities for your company to be recognized all over the world. And if you deal with luxuries like this, or if you want your own brand to stand among these classics, then you’ve got to adopt a taste for luxury.
Their credibility – All brands try to add the best of the best to their line of items. This then becomes the standard that everyone else tries to match; both the quality and brand. And so when you deal with such items, it automatically makes you the innovative brand that people follow and mimic.
It isn’t about just the trend – Have you ever heard Nike following a trend? No. They are trendsetters. They do not compromise their position by jumping to the first opportunity and changing with every trend. Because the trend will change. What will stay, is the position of brands in the market.
They don’t need advertising – Well, every product needs advertising (almost, of some kind). And that is one of the strongest points to support luxury businesses. When you own something that has been a mark of quality, as soon as you launch something else under the same name, people will talk. With everyone else talking about your brand, the customers don’t need to be reminded of your brand by advertising, they hear your name everywhere anyway.
And so you can focus on the brand’s development more than marketing. Your brand speaks for you. The name that has survived and thrived for centuries help you stay relevant. But all it demands in return is the perseverance of the standards that has so far been an integral part.