Luxury Goods Marketing Strategies from the Perspective of Consumer Psychology

¹ Hefei No.1 High School, Hefei, Anhui, China
² 21st Century School, Beijing, China

^* Corresponding author: lewisandhisfriends@outlook.com

Abstract

In the digital age, consumers’ perceptions and purchasing behaviors have suddenly shifted. This article analyzes the development path of luxury marketing strategies in the digital age. This paper argues that brand perception has more to do with the physical and specific quality of the product or aspects beyond the price tag. For example, the emotions associated with the brand, the consumer identity, and values that the brand represents, etc. As a result, luxury brands need a great digital marketing strategy to maintain a competitive edge in changing market conditions while maintaining their position as a luxury brand. As a result, luxury brands need to use information channels to specify personalized and customized solutions that help luxury brands build more important emotional connections with their customers, thus fostering a sense of uniqueness and belonging. This is essential to increase brand loyalty and maintain a high level of prestige for your brand. To succeed, brands should use technology, improve customer experience across channels, and align with younger consumers’ values while keeping their luxury appeal.