As the name suggests, luxury goods are not necessities and thus exist to add frills to our lives. The demand for these goods in the market is usually high with increasing income. It is human nature to embrace luxury and add tint to our lives. It also defines one’s lifestyle. Anyone from the low-class earners to the high-class could purchase luxury goods according to their abilities. Luxury goods include drinks, fashion, cars, cosmetics, accessories, among others.
According to research by Visual Capitalist, the luxury market in 2019 and which had been steadily increasing was worth 308 billion dollars. According to a Vogue Business report, the top 100 luxury brands in the same year dominated over half the revenue of the whole industry worldwide. It is said that they enjoy a revenue of $281 billion with the top ten bringing over half the amount. However, small luxury brands need to up their game by implementing proper strategies to gain authority. However, the overall market was affected by the coronavirus pandemic, and according to research by Statista, they expect the market to grow from $285.1 billion in 2020 to 388 billion dollars in 2025.
It is said that the primary marketing strategy is based on offers and promotions. People could postpone their purchase awaiting offers, benefits, and services. The focus on money, generating sales, and conversions is another. However, there is a new kind of luxury marketing, the French way, that is contrary to that idea. It was brought about by Tony Lux, the CEO of Tony Lux company. He offers marketing consultancy and services to boost business sales.
He describes his formula as a combination of the following:
Brands That Have Implemented The French Way
He has made impacts on over 50 most celebrated luxury brands using tactics and strategies used by Coco Chanel, Louis Vuitton, Dom Pérignon, Rolex, and Montblanc to only name a few. In a launch, Tony Lux made his first million euros in 2013, working with info product French market, for an initial investment of 15 000 euros + royalties on the sales. In 2017, he earned over 5 million euros in the French market alone, marketing innovative e-commerce solutions. Another shining moment is making 1M, rooting actual sales at a webinar in 40 minutes, for his clients. Additionally, he has had an impact on more than 100 industries. Check out further achievements from the site.
What Outshines The French Way Of Marketing Luxury Products
In this French way of marketing, Tony lux insists on building brands and rousing people to love your brand. Love is a principal element in this system. It’s about minding the people you are helping as it drives you to get to the extra mile. Money should not be the motivation for running a business. A strong brand will not prompt you to reduce prices for more earnings. Stimulating sales through price reduction only helps for a short duration and negatively affects your finances in the future. Firms like Rolex will never reduce their prices to accommodate people’s quest. He maintains that price is valuable and that one should focus on branding.
Other French Ways
Other tips include incorporating informational products and digitalization in your business. He mentions that most successful brands flourish by engaging in both offline and online stores.
He also teaches how to add romance, and poetry from the French writing legends such as Victor Hugo to make your copy more memorable.
Another factor he noticed when doing his lifelong research is how the most profitable luxury brands are using hidden symbols leading them to reach brand memorability from the marketplace, brand awareness, and ultimately to buy your products versus the ones of some competitors not as memorable as you are. He explains a few of these techniques in his latest report: https://tonylux.com/marketing-gift/how-to-find-a-good-name
Visit Tony Lux’s website to obtain specific marketing services or consultancy.
The French way of marketing luxury goods proves to be effective in that, during the pandemic, the firms that had implemented it remained steady. According to research by Forbes, a company like Louis Vuitton earned revenue worth 15 billion dollars in 2020, obtaining a 30% profit margin. It was ranked 9th in Forbes Annual List. Lux is confident that working with him for a week would generate over 2 million sales. How about getting a grip of this new French Way of Marketing Luxury Products to vouch for its marvels. Visit the company’s website, http://www.tonylux.com or Tony Lux’s social media accounts: