Luxury Experience

Luxury consumers don’t just buy products, they buy experience and they buy identity.

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The luxury industry has exploded over the past two decades, with companies like LVMH seeing the growth rate of the industry back then and making the investment in their brands over the years to get to the level which they are at now. Luxury is about buying experience and identity, people want to feel a certain way and show their wealth to others.

What gives luxury brands and their products a sky-high premium over normal goods? It can just be the logo on the product or the design of the products, but it has to be more than the brand logo and the design.