Global Luxury Brands' Strategies to Fight Recession

Global Luxury Brands' Strategies to Fight Recession

In the face of economic distress, various consumption patterns emerge, including pursuit of rare products, purchases with sensitivity toward social issues, and self-comfort attainment. In response to these shopping behaviors, luxury brands are seeking quantitative growth by focusing on the most elit...

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Veröffentlicht in:SERI quarterly (Seoul) 2009-10, Vol.2 (4), p.108
1. Verfasser: Choi, Soon-hwa
Format: Artikel
Sprache:eng
Schlagworte:
Affluence
Brand loyalty
Consumer behavior
Consumers
Consumption
Elitism
Emerging markets
International
Keywords
Luxuries
Market strategy
Marketing
Middle class
Museums
Niche marketing
Product lines
Professionals
Purchasing power
Recessions
Sales
Social responsibility
Standard of living
Target markets
Trends
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Beschreibung
Zusammenfassung:In the face of economic distress, various consumption patterns emerge, including pursuit of rare products, purchases with sensitivity toward social issues, and self-comfort attainment. In response to these shopping behaviors, luxury brands are seeking quantitative growth by focusing on the most elite shoppers and the newly rich in emerging markets. At the same time, they are pursuing qualitative growth by enhancing their corporate health and brand competitiveness. [PUBLICATION ABSTRACT]
ISSN:1976-7250