Bloomberg News’ Post

Why do you buy luxury products?

The Chinese luxury watch market is booming, and here's why you should pay attention! 🕰️ Despite the rise of local watch brands, Chinese consumers still favor foreign luxury watches. This article delves into industry insights and marketing strategies to help your brand thrive in this dynamic market. Read the Full Article Here: https://buff.ly/3sRdFR0

Rolex’ decision to halt its routine price hikes signals a potential shift in the luxury sector's pricing strategy…While the industry has seen substantial price increases, there is a growing need for moderation to maintain customer loyalty….. In India, where luxury sales have been robust, continuous steep price rises could dampen consumer enthusiasm, potentially reversing the growth trend. Brands may need to balance exclusivity with affordability to remain relevant #LuxuryMarketShift #ConsumerAwareness #india #middleclass #luxurygoods #fashionbrands #marketinsights

The return of Japan as a reference for luxury in Asia is evident as luxury brands thrive in the country despite challenges faced in other parts of Asia. According to a recent Modern Retail article, LVMH reported 'double digit growth' in Japan for the first quarter, contrasting the sales decrease in other Asian regions. Similarly, Gucci's success in Japan sets it apart from global trends. The lower yen has attracted numerous customers from Mainland China, establishing Japan as a prime tourist shopping destination. #Japan #LuxuryMarket #RetailTrends https://lnkd.in/dHpPYcwv

Luxury watch prices in the secondary market have collapsed In less than 2 years, the price has declined by more than 35% WatchCharts Market Index tracks secondary watch market price trends It consists of 60 watches from the top 10 luxury watch brands, which are sorted and weighted by transaction value The index tracks the price movement of these watches in USD over time And is rebalanced every year on 1st Jan

I love luxury products, but I'm not going to buy them anymore. Because lately, I've realized most of them are not worth the price tag. Luxury brands don’t just sell products — they sell aspirations status, and  emotions, using powerful psychological tactics to drive billions in sales. Here's some data to support the point I’m trying to convey: 📍 According to research by Bain & Company, the average markup on luxury goods is around 20 times the cost of production. This means that a significant portion of the price tag goes towards branding and marketing rather than the actual quality of the product. 📍 According to a study by Harvard Business School, the German luxury watchmaker A. Lange & Söhne prices its watches from around $16,000 to as high as $2.6 million. Considering that the markup on luxury watches can be as high as 1,000% to 2,000%, a watch with a manufacturing cost of $1,600 could potentially retail for $16,000 to $32,000 or more. So, the actual cost includes more than just the product itself; it also includes marketing, branding, and retail. However, we still choose to purchase it because it brings us a sense of satisfaction. These brands understand what motivates us, and they use that understanding to build massive businesses. Have you ever thought about this? Let me know in the comments. #luxury #brands #strategy #business

Strong correction in the secondary market of luxury watches

I'm thrilled to introduce our newest white paper: "Pre-owned Luxury Watches in China – the Time is Now." With the global interest in the pre-owned watch market, many key markets like the US, Europe, and Japan have been in the spotlight. Now it's time to shed light on China and the growth opportunities for pre-owned luxury watches there. In this report, you'll discover: 1️⃣ The development of the pre-owned market globally and locally in China 2️⃣ Detailed insights into the top four pre-owned platforms in China, including brand listings, prices, and discounts 3️⃣ Key statement pieces from various luxury brands available on these platforms 4️⃣ Essential price comparisons against global platforms Download the full version of our report in the link below and discover the unlimited potential of the pre-owned luxury watch market in China. https://lnkd.in/gbQqFAxH #PreOwnedLuxuryWatches #ecommerce #Chinadigital

I love luxury products, but I'm not going to buy them anymore. Because lately, I've realized most of them are not worth the price tag. Luxury brands don’t just sell products — they sell aspirations status, and  emotions, using powerful psychological tactics to drive billions in sales. Here's some data to support the point I’m trying to convey: 📍 According to research by Bain & Company, the average markup on luxury goods is around 20 times the cost of production. This means that a significant portion of the price tag goes towards branding and marketing rather than the actual quality of the product. 📍 According to a study by Harvard Business School, the German luxury watchmaker A. Lange & Söhne prices its watches from around $16,000 to as high as $2.6 million. Considering that the markup on luxury watches can be as high as 1,000% to 2,000%, a watch with a manufacturing cost of $1,600 could potentially retail for $16,000 to $32,000 or more. So, the actual cost includes more than just the product itself; it also includes marketing, branding, and retail. However, we still choose to purchase it because it brings us a sense of satisfaction. These brands understand what motivates us, and they use that understanding to build massive businesses. Have you ever thought about this? Let me know in the comments. 🙏🏻Collected #luxury #brands #strategy #business

With a Volatile High End Jewlery Value Market, it is more important than ever to make sure all of your Valuables are Covered Correctly! While the insurance policy may not bring back your favorite family Heirloom, a covered Claim always makes things a little bit better! #PersonalInsurance #Chubb #AssuredPartners #GetQuotedToday!