A consumer shopping in this price remit expects so much more than a beautiful product.
Collins, who has overseen the construction of Harrods’ temple to fragrance, the Salon de Parfums, says luxury is now as much about the experience as the product, especially for the new Millennials market.
1. Know your consumers’ journey. Consumers that start with masstige products go on to buy luxury.
2. Meet Millennials. ‘Arguably, from day one they are luxury beauty consumers,’ says Collins.
3. Customise your offer. Brands such as Ex Nihilo understand that personalisation is key to luxury.
4. Ramp up the experience. Luxury consumers expect an experience as beautiful as the product.
5. Prioritise positivity. Terms such as anti-ageing feel old-fashioned and unnecessarily negative.
Dr Anjan Chatterjee, the author of The Aesthetic Brain, says...