Market digitization and product cycle times impact luxury status of pieces, says retailer


Dr Christian Kurtzke asked “how do you define luxury? In the latest blog post “Luxury in Conversation” by De Vere Diamonds.

With help from De Vere and other contributors, Dr Christian Kurtzke believes he provided the answer in a blog post posted on the company’s website today.

Kurtzke is the founding president of MEISTERKREIS, the German luxury goods association, and now CEO of The Together Group, as well as the former CEO of Porsche Design Group, Meissen.

He thinks a complicated answer is needed to the question, and says the answer differs depending on the market.

Factors such as the digitization of a market and product cycle time affect response.

“In fact, luxury watch companies probably have more in common with luxury automobiles than with fashion or jewelry,” he writes.

However, he notes some commonalities across all industries, including “the use of high quality and relatively valuable materials, a special and carefully refined human touch for the making of the soul of luxury in products and services, as well as the precious conscience of the consumer to interact with an exceptional brand ”.

Kurtzke also notes that customer service and a luxury space – or store – to accommodate a luxury product is required for the sale. This is why, he explains, the luxury markets could be in difficulty during the pandemic.

All of Kurtzke’s advice on building the luxury brand – both physical and online – of the future can be found in De Vere’s blog.

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