Are you a luxury business owner? Then you’ll know that when it comes to the luxury customer, it’s necessary to do things a little differently, and that the marketing and sales efforts of mid-range brands to attract the masses won’t wash when it comes to those with money to burn.
Catering to the discerning customer who can afford to buy whatever they want, whenever they want certainly comes with its challenges, and means that high-end brands must continually adapt and evolve in order to stay relevant and continue to appeal in the face of growing competition.
This is even more true in a bricks-and-mortar retail environment, with just a moment to impress target customers before they decide whether to stay, or whether to turn around and walk back out the door. If your store looks dated or you fail to win them over with impeccable service, then they may never come back again – but thankfully, there are some clever ways you can ensure that, instead, they’ll never want to leave – unless, that is, it’s with an arm full of shopping bags.
Wondering how to attract high-net-worth customers and keep them coming back for your luxury goods time and again? Then look no further.
A luxury aesthetic
It might seem obvious, but no matter how beautifully crafted or expensive your high-end goods are, if your shop or boutique doesn’t say the same, then your ideal customer will never be won over.
As with most things in business, you must be willing to speculate to accumulate, and that includes splurging on luxury shop fittings to give your retail space the ‘wow factor’. Your shelving and display settings shouldn’t just show your products off to their full potential, but should also look expensive in themselves, as this shows that you value quality in everything you do and shows big-spending customers they can trust in your standards.
Effective displays
Of course, the way in which you display your luxury wares is important to catch their attention in the first place, and the mantra ‘less is more’ is particularly relevant here. While mainstream shops tend to seek to maximise their space as much as possible by cramming in racks and shelves and filling them with multiple items – particularly in the case of clothing – luxury stores should do the opposite. Luxury is about exclusivity, so displaying just one of each item so that it has the chance to impress is a much more effective approach.
Focus on the customer experience
Those who buy luxury goods do so because they want to feel like they have something special, and enjoy the sense of status that comes with it – so every element of the customer experience should focus around this and show them what they can stand to gain through associating with your brand. This is particularly true if you’re a relative newcomer in the luxury retail space, as building an initial customer base and keeping them engaged is the key to long-term success, and this goes beyond simply making them feel special while they’re inside the walls of your retail space.
Don’t just sell products – sell the lifestyle
Selling high-end goods isn’t just about selling products – it’s about selling a lifestyle, and using your displays and marketing tools to help them envisage your wares being a part of their dream life is a sure fire way to boost sales – as well as contributing towards keeping customers loyal in the longer-term.
This doesn’t just apply in store, but across all of your marketing channels, including digital – after all, the content you share there is often what attracts people through your doors in the first place. Using video and other types of visual content to show glamorous people using or wearing your products and living the good life at all touchpoints is a great way to start sowing the seeds before they visit in person, at which a good proportion of selling has already been done for you.
Don’t miss the chance to reiterate value
With this in mind, it can be tempting to simply take a customer’s money when they come into your store ready to buy, but you should never miss to communicate the value of what they are buying. Not only does this help to reaffirm their choice, but it’s also likely to tempt them back again for more.
Be sure to talk about the brand’s values and heritage and the meticulous expert craftsmanship that has gone into making each piece while you package it up for them. Doing so shows them that your goods are worthy of the price tag they are paying, and are more than just an impulsive splurge. If they can leave feeling confident that they made a good purchase from a brand they align with, then you’ll likely have a customer for life.
