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Women Find Jewelry And Relationships
The Luxury Institute surveyed ultra-wealthy U.S. consumers about luxury brands they buy and the relationships they have with luxury sales professionals.
Tiffany & Co. is the jewelry brand most widely purchased by ultra-wealthy women, followed by David Yurman and Cartier. These three leaders in market share are also the top three jewelers where ultra-wealthy women have a preferred salesperson.
In the women’s fashion and accessories category Michael Kors holds a commanding 36% market share, followed distantly by Prada, Burberry, Louis Vuitton, Chanel, Gucci and Marc Jacobs. These top seven brands vary widely in their ability to build relationships with ultra-wealthy women, with Marc Jacobs falling behind the rest while Prada leads the pack.
Among pentamillionaire men, Ralph Lauren and Brooks Brothers hold the largest market share in the men’s fashion and accessories category. Overall, ultra-wealthy men are less likely than women to build relationships with salespeople.
Pentamillionaire men and women both agree that the top ways salespeople build lasting relationships are by making them feel comfortable, communicating honestly, earning their trust and recognizing them on store visits. More than half of ultra-wealthy women who purchase from both jewelry and fashion brands say they appreciate handwritten thank you notes.
by Luxury Institute
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