Home > Uncategorized > NetBase Brand Passion Report: Luxury Brands 2016 The social consumer view of luxury brands

NetBase Brand Passion Report: Luxury Brands 2016 The social consumer view of luxury brands




We All Have Luxuries, Big or Small Social media knows no borders—for any business. No matter your brand, no matter your company, global technology is bringing everyday consumer dynamics right into the hands of business leaders. A never-ending stream of social information reveals how consumers feel about their brands, lives, interests, and everything in between. CEOs and CMOs must navigate emerging trends, reputation challenges, brand reviews, and consumer connectivity—all at the speed of social media. Luxury isn’t going away. It’s just getting a makeover. As consumers, we define luxury at a given moment in time, from a nice gift to yourself, to a memorable experience, to a family treat. But by examining social conversations, it’s clear that luxury, as defined by the consumer, is taking on a new look. We see that the retail environment is evolving, while watches are having a resurgence. Consumers are passionate about their luxury brand choices, which often help define who they are. We see that emotions are high for the brands they love, but we also see consumers fall out of love, too. A number of popular luxury brands dropped off the list over the course of our study. Is intense competition to blame? Or is it the fickle nature of consumers?

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