ASTT. INDIA: Unfolding the New Landscapes of the Luxury Industry
Luxury can mean different things to different individuals; for some, it’s about having the money to do anything they like, while for others, it’s about being able to do whatever makes them happy. We marketers make it seem like both of those things, so they’re both true. We consider the ability to arouse desire in the target market to be a key marketing strategy. How? By carving out a distinct market niche and positioning the brand accordingly. Look at all the high-end labels, and you’ll see that they’re not just rivals, but the rivals in need. Our new focus is on collaborating with brands that aren’t afraid to speak up, and we’re here to assist them to do the same for others as they carve out a niche in the market. In keeping with the philosophy of our founder Sakshi Sasane that “brands are like babies, they need equal care, nurture, and love in order to grow healthy and never go off-track,” serial marketers like to treat businesses with the same tender loving care as they would a newborn.
According to our research into the economy of luxury brands both during and after COVID, we found that, with the exception of luxury brands, ordinary brands were only negatively impacted by the event, while the latter experienced a growth spurt. The economic downturn is serving a similar purpose. The narrow clientele who regularly spend their money on luxury brands has the attitude of “to live or let live” in the face of adversity.
“EVERYBODY IS RICH” Mentality.
Creating desire in the luxury market requires delving into the sales funnel, which may be deciphered here. One of the most crucial is using consumers’ feelings towards them; in fact, it’s estimated that 90% of customers have made a purchase while having no intention of doing so. For simplicity’s sake, let’s just say that building desire entails telling people their dreams and forcing them to live in them. Want is born out of the experience. Need gives rise to want. When there is a need, suppliers will appear. When it comes to the high-end market, Supply generates PR and marketing. Even in today’s digital world, people still want to know: “How do we get people talking about our luxury brand or any brand?” Make an impression, put yourself in the shoes of those that matter, maintain a high standard of excellence, be both transparent and critical, and show some historical perspective. Looking at brands and sales from a retail viewpoint requires convincing the target market that “oh, they’re rich, they’re abundant, they need it because it’ll degrade their value, etc.”
Astt. India- means every brand has a story to tell. We maintain that every brand has its own personality, history, market worth, backstory, and journey. It’s not about fame and fortune, but rather the number of people you can persuade. How solid is the foundation of your brand?
Our founder had the chance to work with a premium luxury brand that curated collections for Queen Elizabeth II, and she says that the brand’s foundation was so strong in their regional area, but that they were still lacking in the Metropolitan cities. After repositioning the brand, sales increased by 80% in just three weeks. At 21, she hit the target right on the nose.
Similarly, astt. India has a solid foundation in studying the luxury market thanks to the 6 years of experience and insatiable curiosity of our founder. We have faith that with our help, every brand can become a leader in its field and an exemplar of its beliefs and principles.