Tag Archives: lifestyle marketing

August 1, 2023 · 9:45 am

How to Create Artificial Scarcity for Exclusivity, Cachet & Stellar Profit Margins

By James D. Roumeliotis

Creating artificial scarcity with products is a shrewd marketing strategy that aims to increase demand and perceived value by limiting the availability of a product or service. It can be used to generate excitement, urgency, and a sense of exclusivity among consumers.

However, to earn respect and steadfast clientele as a “prestigious” brand, it’s essential to approach this strategy ethically and transparently. Here are some methods to create artificial scarcity with products:

  1. Limited Editions: Offer limited editions of your products, making it clear that there will only be a fixed number available. This can create a sense of urgency among customers who want to own something unique and exclusive.
  2. Time-Limited Offers: Implement time-limited offers or flash sales, where the product is available at a discounted price for a short period. This encourages customers to make quick decisions to avoid missing out on the deal.
  3. Pre-Orders and Waitlists: Launch products with pre-order or waitlist options. By allowing customers to reserve a product before it’s officially released, you can create anticipation and interest in the item.
  4. Seasonal or Holiday Releases: Introduce products that are specifically tied to certain seasons or holidays. This creates a sense of urgency as customers know the product will only be available for a limited time.
  5. Controlled Distribution: Control the distribution of your product to specific regions or stores, making it harder for customers to access it, and thus creating a perception of scarcity.
  6. VIP Access: Offer exclusive access or early release to a select group of customers, such as loyal customers, members of a loyalty program, or influencers. This can make others desire the product even more.
  7. Limited Time/Quantity Promotions: Run promotions where a specific number of units are available with added benefits (avoiding discounts). Clearly communicate the limited quantity or time frame to create urgency.
  8. One-Time Reissues: If you have an older product that was well-received but discontinued, consider reissuing it for a limited time. This could create a surge in demand from customers who missed out on the initial release.

Building cachet

Building cachet in a product or service is a strategic approach used by businesses to create a perception of prestige, exclusivity, and desirability. It involves enhancing the brand image and reputation to attract a select target audience willing to pay a premium for the perceived value and status associated with the offering. It requires consistent messaging, attention to product quality, and a clear understanding of the target audience’s desires and values.

Cases in point: Nike vs. Hermès; Diamond industry; Prime energy drink

Hermès is not the world’s biggest fashion label ─ it’s Nike, followed by Louis Vuitton (LVMH group), Gucci (owned by Kering), Chanel, Adidas and finally Hermès. But Hermès appears to be the most desirable brand. Recently, the stock price of the French leather goods company, founded by harness-maker Thierry Hermès in 1837, soar to more than €2,000 per share. It raised Hermès’s market cap to €210 billion, even surpassing that of Nike. Hermès is primarily owned by the Hermès family, which through its holding company, H51, holds the majority of the company’s stake, and one of the few luxury brands that remained independent.

Much of Hermès’s magnetism comes from positioning itself as an exclusive brand by creating scarcity over its two priciest best-sellers ─ the Birkin, starting at €15,000 and produced in small numbers (artificial scarcity, thus waitlists) and the Kelly bags. These two alone accounts for €2 billion in annual sales.

A notable industry which in its entire history has created artificial scarcity is the diamond sector. It controls supply to manipulate prices. On top of extreme ethical violations, leaders in the diamond industry are extremely clever in limiting the supply of the clear and glitzy rocks. Despite diamonds being numerous, fake scarcity keeps prices extremely high. The estimates on markups are broad, but most of the reliable sources indicate that at least 300% is the usual markup. 

Prime Hydration is a line of fruit-flavoured sports drinks fortified with vitamins and minerals. It was launched by rapper and boxer KSI and YouTube content creator Logan Paul in January 2022.  It’s so popular worldwide that in places, such as the United Kingdom, grocery stores have had to ration it. In the U.S. and Canada, it retails online for about $10 per 500 ml (16.9 oz.) bottle. So, what gives with this particular product?

  • FOMO (Fear of Missing Out): Scarcity triggers the fear of missing out, and consumers may be more motivated to purchase an energy drink if they believe it won’t be available for long.
  • Collectability: Limited-edition or rare energy drinks can become collectibles, appealing to enthusiasts who want to own and preserve unique products.
  • Social Media Buzz: Artificial scarcity can generate buzz on social media platforms as consumers share their excitement about the limited availability of the product.

In the final analysis

Remember that while creating artificial scarcity can be an effective marketing tactic, it’s essential to maintain transparency with your customers. Be clear about the limited nature of the offer and avoid deceptive practices that may undermine trust in your brand. Additionally, be mindful of potential backlash if customers feel manipulated or misled. Artificial scarcity should be used ethically and as part of a well-rounded marketing strategy.

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October 3, 2022 · 9:51 am

Exploiting The Benefits Of Niche Marketing: Strategic Marketing

By James D. Roumeliotis

In strategic marketing “speak”, who earns more money? A general practitioner or a specialist physician such as an ophthalmologist? The latter has spent additional years studying with an emphasis on one particular area of practice which makes him or her both scarce and sought after in his or her profession. The same goes for an organization that has spent years studying the market with emphasis on doing one thing, but one thing extremely well. This automatically justifies higher fees translating to improved earnings. How does a saddle maker to the horse and carriage trade reposition itself to maximize its know-how in leather goods to now command $4,500 for a simple briefcase? Or even hawk silk scarves at $400? Think Hermes.

The answer lies in specialization, craftsmanship, and branding. As with all other specialized professions, a business that, chooses to concentrate on a particular market segment should simply be generating higher revenues. Alternatively, if you join the herd of the mainstream, there is always a vast consumer audience to tap. Profit is driven by volumes. It is harder to compete on price to the point of being perceived as offering a commodity with little or no differentiation — otherwise known as a “unique selling proposition” (USP). The only exception to that rule is when an enterprise keeps churning out innovative, “must-have” items ahead of its competition. Yet that requires constant creativity, refinements, and a considerable amount of R&D. Apple is an example of a brand that has managed to hit both objectives. Not bad for an enterprise, that started life in a garage.

Defining the term “Niche”
Strategically, niche marketing is the way to go forward. However, you ought to be on top of the game. Recently, the firm Kusmi Tea has managed to put all the right elements together in an unbeatable combination. It personifies mass marketing and branding. If you have a specific group of people interested in “organic tea”, you have your proverbial niche. Whether promoting niche products, in focused markets, such as those for vegans, cruises exclusively for “cougars and cubs” or geared for ultra-high net worth individuals, the activities applied to attract that refined target undoubtedly calls for creative strategic thinking.

Targeted Audiences
The best way to start is to define your target audience. An 18-year-old girl who wants to lose weight to fit into her dress is interested in weight loss diets. Hit her at her waistline, and the target is captured with simplicity.

The family who just purchased a puppy wants it trained and therefore requires the appropriate service. Show you can make a dog shake, rattle, and roll and still act well-behaved in the company of others and you will no longer need to flog dog whistles. Ever notice how a 50-year-old lady wants to hide her wrinkles and is always searching for a miracle formula to make her wrinkles disappear in minutes? Open Vogue and see how this “class act” can be achieved. These cited groups above represent finely honed targeted audiences. Marketing to such audiences and building an emotional bridge from the intention to purchase decision always attracts higher conversions. You don’t need to recreate the wheel. All you need to do is to find a suitable product that your target audience is looking for and present it on a silver platter. All target audiences liked to be addressed with intimacy and personal contact.

Driving the Niche
Common sense tells you that driving a selected audience is efficient and lucrative.
The following key index shows how niche marketing should be your chosen business strategy:
1. When entering a new niche market, generally you will not have much competition to deal with. This is justification alone for choosing a specific market in the first place. It also makes your SEO (Search Engine Optimization) Internet marketing strategy focused and cost-effective.

2. Niche markets appeal to target customers, and they are generally much more willing to spend money when their specific needs are met. This means that by catering to a specific target market, you can generally earn a better profit margin.

3. Some niche markets contain sub-groups of the main niche. For example, acai berry weight loss pills or natural weight loss diets are sub-niches from the weight loss niche. Despite their relatively small size, they are actually quite sought after. Identifying this need spares you from having to compete with similar businesses. People who fit this profile will seriously consider your product — especially if it offers them a genuine solution.

4. Niche marketing makes it possible to focus on becoming a true expert within a particular realm while building a reputable brand name. Strategically, it is also more focused and easier to segment and attack.

The “Ideal” Niche Player
A niche market player is very effective at working closely with customers to build and maintain long-term relationships by innovating and challenging the existing norms in the industry, thus adding value to the project, program, and organizational level. If one is considered an expert in what one does by focusing on one area, then great success will follow. The value proposition must be relevant to the target market.

This means a target market must be clearly defined. Focusing on a specific market requires knowing it inside and out. This includes conducting a market analysis, stating a precise target market description and goal, as well as being clear about the type of relationship one would like to achieve with his/her market.

By definition, then, a business that focuses on a niche market is supplying a need for a product or service that is not being met by mainstream providers. As such, one can think of a niche market as a narrowly defined group of potential clients offering them the best of what you have. In return, their vendors will profit from higher margins and customer loyalty. As for targeting smaller “sub” niches, you will find them much easier to dominate.

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September 2, 2021 · 1:48 pm

Sound Branding: Exploiting the Auditory Human Sense for Multi-sensory Communication and Emotional Connection



By James D. Roumeliotis

It is said that the human ear reacts to certain sounds which is telling that we’re wired for sound. Sounds, most notably music, trigger emotions, auditory pleasures, memories and associations. For branding, sound is multi-sensory communication and a holistic corporate model which drives perception, creates attention along with a familiar association. It’s also a means of differentiation from the plethora of advertising media.

The auditory effect to enhance brand identity

Whether it’s a memorable Intel or Coca-Cola jingle, a mega artist’s association with a soft drink or lifestyle brand, Harley Davidson’s distinctive and trademarked motorcycle exhaust sound, or Kellogg’s investment in the power of auditory stimulus with its cereal crunching sounds, marketing strategically through proprietary sounds is increasingly becoming a prevalent means of forming a distinctive brand personality. The advent of digital media and devices with built-in audio, such as smart phones, tablets, streaming media or podcasts, increases the opportunities for companies to utilize audio branding in their overall communication strategy and brand experience. Samples of audio identity can be viewed and heard here.

Consider, below, what some brands are doing with sound to entice new clients and retain existing ones:
– Automobili Lamborghini developed “The distinct sound of Lamborghini” — a stirring and thunderous video soundtrack and the prelude to a potent new driving experience.
– Hip boutique hotels such as Puro Hotel in Mallorca, whose beach bar has been voted one of the world’s 50 best by CNN Travel, surrounds you everywhere with lounge/chill-out genre of music compiled by its in-house DJ ‒ whether you open their website, choose to listen to their on-line steaming player, purchase a CD, relax by the pool sipping a passion fruit mojito or come nightfall, gather around to dance to their house tunes.

Martin Lindstrom, branding expert and author of several books on the subject of ‘neuromarketing’, wrote in his book “Brand Sense” (on “Branding the Sound of Falling Aluminium”), that the Danish luxury audio/video brand, Bang & Olufsen, has raised the bar in the manufacture of corded phones with the Beocom 2 model phone ring tone. He is quoted stating, “By refining this existing sensory touch point, additional brand equity is established, and a new aspect of the Bang & Olufsen brand is raised in the universe of the brand.” Birgitte Rode, CEO of Audio Management adds, “The difference between the BeoCom2 sound and other ringing tones is, that the Bang & Olufsen sound is human, it makes you feel at home, and it´s instantly recognizable.”

Producing a desirable ambiance best suited for your target

The late fashion design icon Karl Lagerfield once stated that “Fashion and music are the same, because music express its period too.” Music, effects, volume and vibrations ‒ the tone and the energy of any place can be set with the right music selections. Upbeat music that would be appropriate in the evening may not appeal to morning customers who may yet be fully alert. If you have an Italian-themed bar, you may want to interject some Italian music from artists like Zuccero or Eros Ramazotti. If your theme/branding and ambiance is geared to a very hip, young audience, it will likely suit your customers to include songs with a driving beat from cutting-edge alternative and electronic artists.

Emotionally anchoring a brand to its clients

Designing and implementing custom music and visual strategies emotionally anchor a brand to its clients. A 1982 study published in the Journal of Marketing determined that “it is possible to influence behavior with music.”

In 1934, a company named Muzak, now owned by Mood Media, launched a pioneering idea of low-level instrumental background music which they termed as “stimulus production” which improved worker productivity in offices. This was eventually taken to other areas most, notably retailers, as well as the hospitality domain as a means to enhance the ambiance in and around surrounding areas.

Retail background music which is curated though licensed music/songs, as well as scent marketing, and various stimulating visuals, such as video walls and digital menu board, indirectly captivate and influence clients’ mood to make purchases and improve sales. These help create emotional connections between the retailers and their shoppers.

DJs or Music Stylists, as they are more urbanely referred to, include Felix Cutillo at Sonodea, who compile the playlists to complement the client’s (retailer, hotel etc.) brand identity along with input from their client.

Taking this even further, with live music event sponsorships, brands can enhance their image on their clients which in turn can positively influence their sales ─ as a 2015 study from live event promoter AEG and marketing agency Momentum Worldwide uncovered. “When it comes to connecting with consumers, especially millennials, music is one of the most effective ways. For brands, the opportunity exists within music to create value for their customers and build a lasting relationship unlike any other,” according to Glenn Minerley, Momentum Worldwide’s VP, Group Director – Music and Entertainment.

At the end of the day

A brand’s identity is comprised of visual, auditory and other sensory components that create recognition in the mind of the consumer. The power of music has the ability to seduce the soul, raise the spirit, build social connections, wiggle our bodies to the rhythm, increase purchases, as well as develop, strengthen and recognize brands. Sound branding supports refining brand communication and in designing a better sounding environment.

In some fashion, all business is show business and storytelling. Brand image is all about the experience, perception and differentiation you create in the customers’ mind. Sound branding forms part of the equation and bringing all this into meaningful consideration by applying its multi-sensory approach to attracting and retaining clientele to your brand and business establishment. It is, therefore, essential to consider audio brand management and strategic use of sound in the total branding equation.

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September 7, 2020 · 12:14 pm

Lifestyle Branding: Engagement and the Total Experience

By James D. Roumeliotis

How Is Technology Helping Fashion Lifestyle Brands Connect To Their Human Side

When you visit your local Porsche dealership be prepared to engage. Staff will talk to you about the total experience. This will invariably include discussing the firm’s racing pedigree and performance. In your
mind, you will be able to feel the steering wheel, smell the leather seats, and hear the roar of the engine. This car represents to you an exclusive club and you desire to be part of the privileged few. The brand also added its own private race tracks in several parts of the world for its customers to have exhilarating moments testing various models. Clearly, one does not buy a Porsche simply to go from point A to point B. In practice, you might use this care to commute to work, but this is not the incentive to purchase a piece of automobile and racing history.

Porsche is clearly a brand with authenticity and heritage. The principles shaping the consumer’s buying behavior go beyond intention. There is a sense of engagement in fulfilling a dream. It can be to make
a social status statement or a personal style choice. Whatever it is, it is not an unconscious choice. The codifiers are clear: This is who I am, and what I believe in. Ultimately, it can also articulate your sense of
self-worth and your emotional aspirations.

The most important emotional benefit in my view is that a product of this caliber and class expresses itself when the consumer can declare, “It suits my lifestyle.”

Lifestyle Brands Matter
Not every brand is a lifestyle brand regardless of whether it strives to portray itself as such. A company can define itself as a lifestyle brand when its products promote more than a product with key benefits and
attributes. Note however that lifestyle branding is more than just promoting “a way of life”. It is a product or service that provides consumers with an emotional attachment to the lifestyle of the brand. Think of Ralph Lauren and you can readily see it is not about the clothes. It becomes an attachment like Porsche to an exclusive club in which you can be a member through emotional identification through use of the products in question.

Savvy companies understand these principles and look to keep the customer engaged. By doing so, they clearly forge the sort of long term relationships, which become the envy of their designated sector. Financial benefits clearly follow, but the raison d’être of the firm must back up its promotion for this to work effectively. One reason so many firms want to enter the lifestyle arena is profitability and high profit margins. Established brands can tap economies of scale when they launch new products at a cheaper cost to the firm. Surplus revenue can then be channeled into extensive advertising and promotion costs.

Building a Lifestyle Brand
Generally speaking, a brand that is designed for the lifestyle segment should have more emotional value to consumers. Features, cost, and benefits do play a role but by themselves they would be insignificant. There are companies that become a lifestyle brand by tying their product ranges to a distinctive culture or group. Marketing guru, Seth Godin labels this with the key word as a “tribe”. A classic case is Harley Davidson, who sells branded merchandise to customers whether or not they own one of the firm’s motorcycles. Other key lifestyle brands include Nike, Wholefoods, Red Bull, Hackett, Hermes, and Louis Vuitton among others.

In the electronics and computer industries, it is uncommon to have lifestyle products. However, Apple has broken this “glass ceiling” by its unconventionality with products which come with its seamless eco-system. Even its ubiquitous white headphones have become a fashion accessory and, some would even argue, a status symbol. The people who follow Apple and its “lifestyle” are clearly all obsessed in a way that the firm intended when it embarked on this well-thought-through strategy.

Lifestyle brands have clearly impacted on luxury brand management. The usual suspects such as BMW, Armani, W Hotels, and Rolex — just to name a few, have fostered commitment and loyalty with their promotional campaigns. These have given consumers an “associate” status with all that is glamorous. Just think of Daniel Craig and James Bond. Sales at Omega thrive on this “Bond engagement”.

The methods to reach a target audience require an integrated marketing/communication strategy. They clearly require taking into consideration and harmonizing the following aspects:
• Experiential Marketing;
• Grassroots marketing;
• Promotional tours;
• Sponsorship of lifestyle events;
• Lifestyle marketing on the Web: think Facebook;
• Viral video marketing;
• Social media/networking (blogs, chat rooms & message boards);
• “Interactive” is key;
• Mobile phone media, text messaging & applications.

Not Every Brand Can be a “Lifestyle”
New research from Kellogg at Northwestern finds that the strategy of traditional brands to reposition themselves as a “lifestyle” brand may fail. The reason is not rocket science: they simply fail to “bond” with
their customer base. “The open vistas of lifestyle branding are an illusion,” said Alexander Chernev, lead author of the study and Associate Professor of Marketing at Kellogg. “By switching to lifestyle positioning, brands might be trading the traditional in-category competition for even fiercer cross-category competition. Now they have to compete not only with their direct rivals but also with brands from unrelated categories.”

The study reveals how brands serve as a means of self-expression along with the limitations of expressing a consumer’s identity through brands. Moreover, the study uncovers customers’ desire for self-expression through brands is finite.

Why Do Some Lifestyle Brands Become A Way Of Life?Fabrik Brands
Credit: Fabrik Brands

In Perspective
Forward-thinking brands are those which will continue to develop creative ideas and solutions that will allow people to interact with each other and explore, as well as share creative opportunities. Moreover,
those same brands will make it a strategic priority to add pleasure into the lives of their consumers.

To be sure, there are many excellent examples of lifestyle branding. Just examine the “hotel as lifestyle” creator, Ian Schrager. Since the 1970’s, as an entrepreneur, Chairman and Chief Executive Officer of
Ian Schrager Company, he has achieved international recognition for concepts that have revolutionized both the entertainment and hospitality industries.

His passionate commitment to the modern lifestyle has been expressed through a series of pioneering concepts:
The hotel is no longer just a place to sleep. It is portrayed as your home away from home. This allows hotels to act like theater. Think of the boutique hotel or “cheap chic”, “lobby socializing”, the resort, or the spa.

His keen instincts for the mood and feel of popular culture were honed during the 1970s and 1980s, when he and his late business partner, Steve Rubell, created Studio 54 and Palladium. In 1984, they turned their attention to Morgan’s Hotel and introduced the concept of “boutique hotel” to the world, which is today one the hottest segments in hospitality.

The goal of a lifestyle brand is to get people to relate to one another through a “concept brand.” These brands successfully sell identity, image and status rather than a “product-service” in the traditional meaning of
the term.

If they are successful in capturing their audience, then they become legends in their own right. If you examine the published photographic testament to “Il Pelicano” in Tuscany you will understand perfectly the meaning of the lifestyle branding spirit.

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April 3, 2016 · 11:09 pm

Catering to a “Luxury Lifestyle”: Definition and Execution

by James D. Roumeliotis

Yacht Lifestyle Shot from the Air

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A “luxury lifestyle” denotes a way of life which is pleasantly enhanced through well crafted products and exceptional services. These include dining at the best restaurants, lounging in the finest hotels, dressing in premium and bespoke clothing, wearing jewellery/watches produced in limited quantities, possessing and driving the most extravagant cars, traveling to exotic destinations, and playing with the most sophisticated tech products – amongst others. Needless to say, those consumers are connoisseurs of the finest products and services money can afford them.

According to a white paper and survey, conducted by the prestigious consulting firm McKinsey & Co., it indicates that there is no widely accepted definition of “luxury lifestyle.” It goes on to say that Attendees of the 2012 Financial Times Business of Luxury Summit suggested the following definitions: “a way of living,” a set of “attitudes and values,” or specific “consumption habits.”  Consumers interviewed in London, Milan, Munich, and Paris gave equally diverse definitions. Some offered a broad perspective (“a way of being, dressing, behaving” that “sets you apart from the rest”); others referred to particular products, brands, and experiences (“staying at nice hotels”); still others took a cynical view (“it’s just brand names, that’s all” or “it’s marketing”). Its interviews with senior executives from luxury- goods companies such as Harry Winston, Hermès, and Roberto Cavalli yielded yet another varied set of definitions, including “embodying the lifestyle of an iconic designer” and “offering a holistic brand experience.” Although they all defined the phrase differently, 70 percent of the executives they interviewed said they regard their brands as luxury-lifestyle brands.

A company can define itself as a lifestyle brand when its products promote more than a product with key benefits and attributes. However, lifestyle branding is more than just promoting “a way of life.” It is a product or service that provides consumers with an emotional attachment to the lifestyle of the brand. Take Versace, for example, which besides its fashion apparel and accessories also has hotels, home furnishing/décor, linens, beauty and more. Giorgio Armani also has his eponymous name on hotels, furniture, fashion, jeans and beauty. From these two fashion icons, we can certainly surmise that they have a legitimate claim as “luxury lifestyle” purveyors.

Developing the luxury standard of living through desirable customer experiences

Lifestyle branding is more than just promoting “a way of life”. it is a product or service that provides consumers with an emotional attachment to the lifestyle of the brand. think of Ralph Lauren and you can readily see it is not about the clothes. it becomes an attachment such as the sports car brand Porsche to an exclusive club in which you can be a member through emotional identification through use of the products in question. Smart companies understand these principles and look to keep the customer engaged. By doing so, they clearly forge the sort of long term relationships, which become the envy of their designated sector.

The “Total Customer Experience” is the sum total of the interactions that a customer has with a company’s products, people, and processes. It goes from the moment when customers see an ad to the moment when they accept delivery of a product and beyond.

The experiences customers go through with a purveyor of luxury determine the ultimate perception of its brand and image. Customer experiences also spread the word (offline/online) to others (friends, relatives etc.) about your brand. That said, each customer contact (“touch points”) should be handled with the utmost care to ensure that the total brand experience a person has is constant.

Lifestyle brands develop emotional attachment

Brand loyalty is about building an emotional, and in some cases, irrational, attachment in a product. The most ideal examples are the diehard brand enthusiasts and early adopters who must get their hands on the latest iPhone or iPad. This happens because Apple has built an emotional attachment to their products by creating a lifestyle choice rather than a product purchase.

It’s about how it makes you feel. Same goes for baby boomers, whether accountants or attorneys or business executives who purchase a Harley Davidson motorcycle and ride them for about four or five hours every Sunday afternoon. The bike makes them feel like a rebel – sort of an escape.

A brand that is designed for a lifestyle should have a much higher emotional value to consumers than one based on features like cost or benefits alone. The goal of a lifestyle brand is to become a way that people can utilize it to relate to one another. Those brands are an attempt to sell an identity, or an image, rather than a product and what it actually does.

Lifestyle brands have gained an increased share of the luxury market such as BMW, Armani, W Hotels, Louis Vuitton and Rolex ‒ just to name a few. These have given way to consumers to buy products that they associate with a “luxurious life.” They are essentially a status symbol.

The luxury lifestyle in the services domain

In the category of “services”, the luxury lifestyle is all about execution in delivering an exceptional experience with pizzazz to the discerning ─ whether it is a bespoke travel excursion in an exotic place, producing an exceptional dining experience or organizing an over-the-top event, each one ought to create a pleasant memory which would want to be repeated.

A successful service related luxury lifestyle exists when the following take place.

– Delivered with passion
– Exclusivity
– Discretion
– Exceeding expectations
– Seamless
– Refined
– Posh
– With attention to detail

Consider American Express − most notably for its “by invitation only” Black/Centurion card. For hotels, worthwhile mentions are the Hotel Plaza Athenée, the Four Seasons (including its private jet tours), the Ritz Carlton, and boutique hotels Hotel du Cap and Hotel de Crillon to name a few prominent ones. They splurge and provide the perfect luxury experience with outstanding service, exclusivity, and pedigree.

Exclusive and bespoke travel companies provide tailor made adventures and excursions. The four key players in this category include: Abercrombie & Kent, Kuoni Travel, Orient-Express and Cunard Line. Broadening our view of luxury services, certain firms offer services and privileges to a rare percentile. Such services include fractional jet ownership such as NetJets and FlexJet, as well as global concierge services such as Quintessentially.

In the final analysis

Whether offering a product or service, it is how a luxury brand delivers an experience that distinguishes it and makes it stand-out from the mainstream. In essence, it’s a holistic approach.

Luxury lifestyle brand offerings should be constantly refreshed, giving discerning customers a reason to repeatedly do business with the brand. Tiffany & Co., decided to undergo “investing in the theater of shopping in its stores”, as its CEO Frederic Cumenal implied as regards to the renovations of its largest store ever which it opened in China.

Selling a distinct lifestyle is what discerning clients crave and gladly relate to. Organizing exclusive by-invitation-only events should be considered. Exclusive events make one feel notable. For example, Italian sports automaker Maserati invited a select number of brand loyalists to a new experience in Europe that gave them the opportunity to sail on-board the 70 ft./21,3 m Maserati sailboat. In addition, they drove models in its current range including the new Maserati Gran Turismo Sport model.

In the end, living the luxury life is irresistible to many from every range of background and nationality. The temptation includes the aspirational affluent.

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