Summary of Consumer Luxury Mindsets or Attitudes from Third-party Research
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Luxury Mindset Types
Aspirational Shopper
Desires luxury items but cannot regularly afford them. Shops mainly at outlets or discount boutiques and purchases low-ticket designer items.
Moments of Wealth
Occasionally purchases specific luxury items after saving up, making infrequent but significant purchases.
Dressed for the Part
Buys luxury items to project a luxury lifestyle but lacks the financial means for regular luxury purchases. Focuses on fashion, accessories, or a car.
True Luxe
Has the financial means to purchase luxury items frequently without concern for cost. This shopper engages in regular high-value luxury purchases.
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Luxury brands often struggle to retain their top customers due to a lack of personalized service. Understanding customer personas and tailoring marketing strategies accordingly is crucial for engagement and retention.
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Luxury Shopping in the Digital Age
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E-commerce Evolution
Traditional beliefs that luxury shoppers wouldn't buy expensive items online have shifted. Successful ventures like Net-A-Porter demonstrate that consumers are willing to purchase luxury goods online at full price.
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Digital Influence
While e-commerce accounts for a small percentage of total luxury sales, a significant portion of luxury purchases are influenced by digital experiences, such as online research and social media buzz.
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Mobile and Social Media
Luxury shoppers frequently use mobile devices for research before purchasing. Effective digital strategies include a strong mobile presence, targeted social media engagement, and careful performance metric tracking.
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Customer Engagement
Brands need to optimize mobile sites and partner with multi-brand retailers strategically to maintain brand positioning and influence the customer journey.
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Dimensions of Luxury Brand Personality
Brand Personality Dimensions
Excitement
Sincerity
Sophistication
Professionalism
Attractiveness
Materialism
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Symbolic Consumption
Luxury brands serve as symbols for self-expression and social status, providing both utilitarian benefits and symbolic meanings.
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Historical and Cultural Context
Luxury consumption has evolved over centuries, with luxury brands becoming more accessible to a broader range of consumers due to economic and sociocultural changes.