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The Four Different Types Of Luxury Consumer and How To Sell To Them

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Published
09/20/2018

For those in the business of selling and providing products and services in the luxury market, it’s clear from the outset that your selling model needs to be a lot different than generic online selling platforms. The fact that there are four identifiable audience types for luxury goods makes this even more challenging because what works for selling one style of luxury product will not work across the board. That’s why you need to identify those four categories and then assess the best ways to target your profit strategy in the way that those consumers prefer. Without the knowledge of these different consumers, your business will be working in the dark, and you run the risk of appearing amateur or unreliable, and that could be very damaging to your brand.

Type One: Internalized Luxury

This form of exclusivity is identified less by a product and more by an experience. Consumers looking for more internalized luxury will be focusing more on the high concept of the art of life and will be attempting to distinguish themselves from other consumers through subtle authenticity and a luxury form of elitism. Selling to this market is largely about establishing your brand credentials, and the longer your history and the more unique your origins, the better.

Type Two: Luxury Creativity

Whether it’s through high-end art pieces and installations or new architecture, the creative consumer is far more interested in the luxury of creativity. In these instances, you should focus less on your history and more on the impact of your branding. That means your brick and mortar store needs to be striking and your website needs to be the same as well. Compare your branding with the top Shopify stores to see how the professionals are achieving this look, and you will make it much easier to accomplish yourself.

Type Three: Prestige Luxury

One of the more common varieties of luxury consumer, the prestige buyer is the one that is more likely to wear branded clothing and seek affirmation of their status. This is the most difficult demographic to market to, and will ultimately rely less on your eCommerce decisions and much more on your products. Louis Vuitton and Burberry are good examples of this form of consumer market, and if this is your target audience, then you should adopt similar strategies as those popular names.

Type Four: Luxury Power

The fourth market is focused on those that are looking more for self-affirmation and the ability to stand out from the crowd. These will most often be at the top end of the luxury goods market, with brands like Chanel and Lamborghini being prime examples. Marketing to this audience is all about creating the sense of exclusivity, and techniques like limited edition offers can be very useful. This customer type is looking for rarity, and that makes marketing to them significantly easier.

Selling luxury products through e-commerce has never been easier, but you will need to work much harder with your marketing when it comes to growing a customer base. The more that you learn about your target audience, the more that you can target them with the best content and the most suitable design decisions. Tap into the luxury market in the right way, and your eCommerce business could very easily benefit from this high-value profit stream.

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