Luxury Goods Must Be Maintained At All Times.

When everything is settled, you still have to maintain your brand reputation. According to a panel discussion at the recent Walton marketing conference, with the 2009 becoming the most challenging year facing the generations of luxury goods, marketers used to lock in fashionable fashion girls and quickly expand into Russia or the UAE's new rich group's marketing plan suddenly "out of date".

Nowadays, the "popular" method of marketing luxury goods in difficult times is to cater to the needs of the richest and most loyal customers, from shirts with Monogrammed and even private homes.

"I do think that the foundation of luxury goods is customer service, which is what we often hear."

Khoury Garpen, Cori Galpern, said that she is the global marketing and advertising director of Tom Ford International, Ford, and is the cradle of fashion designers.

"I think we will find that we have lost a lot of fashionable customers because of the economic crisis.

Those who buy a dozen shoes in a year will have another choice.

The core of luxury brands is truly rich customers.

If you support your brand, people agree that even in the recession, even high-end consumers will find themselves struggling to pursue consumers who are at the bottom of the social economy.

"We do not want to see that the brand has become cheap because of a substantial reduction."

Paris L'OREAL skin care brand manager Brad Farrell (Brad Farrell) said, "because you don't want to damage your brand image.

When everything is settled, you still have to maintain your brand reputation. "

Several group discussions said that the rapid development of the financial turmoil could hinder their most ambitious ideas.

Alexander Gillespie (Alexandra Gillespie), a senior vice president of Gucci group, founded the FLR group, which focuses on luxury marketing. She warned of "excessive attention to the luxury industry in emerging markets", because these markets were also deeply affected by the economic downturn.

Many experts believe that the economic pain caused by the deepening economic recession will fall disproportionately to those marketers who sell high-end perfume, fashion or fine fashion accessories.

In the October survey released by Bain, there has been a slowdown in the development of the luxury goods industry, including footwear, jewelry and fashion. According to the survey report, if current trends continue, sales in 2009 will slip 3%-7%.

Keeler said that "2009 will be the worst year in the history of luxury goods."

Gucci group, the parent company of her former employer, recently reported that the group's third quarter earnings were the worst since 2005 due to the downturn.

Who is the core customer group, some observers say that in these difficult times, conspicuous consumption seems to have become a non American approach.

Faith Popcorn, a famous trend analyst, recently pointed out that if you go through Fendi and Prada stores in Madison street in New York, you will find that these stores are already very few.

Women shop in their closets.

Even if you can afford it, you will feel embarrassed to buy it. "

But some have pointed out that their core customers, those real rich people, may cut some discretionary spending, but they will not be "one size fits all" for luxury purchases.

Randy Kabat (Randy Kabat), executive vice president of marketing and advertising at Prada (USA), points out that about 50% of the company's sales come from 5% of customers, but she worries that some so-called "fashionable" middle class consumers may be lost during the recession.

People believe that the result of the economic downturn is that consumers may expect some high-end products to be sold at a lower price.

L'OREAL's Farrell said an obvious measure is that perfume can be sold in smaller bottles as long as the genuine perfume is not diluted.

"Brand integrity is still maintained, but the price of products can be more accepted by consumers in today's market."

Farrell has also added a similar approach to ensuring that some of the important products can be provided by the middle market retailers, such as Target stores and even CVS grocery stores, such as skin care products, because even during the recession, even high-end American consumers may shop in such stores.

The key is not to take any measures that will damage the value of famous luxury brands.

"Good management can withstand prosperity and adversity, and fashion will not change."

Patrick Abouchalache (Patrick Abouchalache) said he was the managing director of New York Investment Companies Roberts Mitani, which was responsible for analyzing the retail industry. "You have to stick to the end," said Abouchalache.

Instead of erecting billboards in Times Square, because they have to portray luxury goods, these marketers say they have to protect the company's brand by way that Volkswagen does not take.

Tom Ford's Jia Peng pointed out that her company refused to erect digital billboards in Times Square because it was not advanced enough.

Tom Ford takes Chanel perfume as a rival of the company and asks, "will Chanel set up billboards in Times Square?"

But this does not mean that luxury goods companies do not want their products to reach large audiences.

Indeed, Kabat has praised the trend she calls "Target". The Target, a popular retail store across the United States, provides customers with higher design aesthetics, which are slightly higher than those of rival chain stores.

However, she pointed out that the United States could further develop its appreciation for fine design.

"Fashion and design are part of culture in Europe, but they are not part of American culture."

Admittedly, luxury salesmen believe that if they succeed in creating the aura of demand, they will eventually overcome the difficulties of the financial crisis.

This may be counter intuitive, but Abouchalache believes that the demand for Cheerios cereals and other consumer products is limited, to a certain extent, the demand for luxury goods is unlimited.

"Hard times, you're on your way home, and you have to buy that handbag..."

It is only driven by different factors to drive buying behavior.

Customers can always use another bag. "

But in order to increase profits, fashion companies may now focus on catering to their best, most loyal consumers, using computer technology to gradually provide tailor-made services for high-end products, tailoring and tailoring specifically to customer needs.

Group discussions show that the success of personalized luxury items, such as clothing or glasses design, can make customers more frequent customers.

"Now is not the time to panic."

Keeler added that she refers to the current difficult economic environment. "Now is the time to define and redefine the brand."

Ironically, the discussion group has no special interest in the short-term prospects for overseas emerging markets, but their companies continue to be actively positioned for the right time.

For example, Tom Ford international has authorized the opening of franchise stores in Beijing, Hongkong and Dubai, because the company considers Dubai to be very important in Asia. The company also talked about planned marketing for men in the Middle East, making the robes of dishdasha.

Farrell of L'OREAL pointed out that many of the demand in Europe came from Eastern European countries, especially Russia. Oil prices surged in 2007 and 2008, making Russia an oil rich country.

But he worries that the financial bubbles in these markets will soon collapse, adding: "you really need to be careful."

Despite the tight economic situation in the world, luxury goods salesmen say their main tasks will remain unmoved: they will sell more attractive lifestyles to consumers who are chasing fashion.

"You are buying that dream."

Kabat said, "you are buying that gorgeous theme, and that's what we do."

Yang Jing: editor in charge