Survey Says ... the Luxury Institute's Latest
A few months ago, The Luxury Institute released its latest findings, and the news may not be good: The headline on its home page reads: "Luxury Brands Are Failing To Deliver on Fundamentals of Luxury at a Critical Time for the Industry." And then: "Luxury leaders need to quickly get beyond the price and cost-cutting exercises and start innovating again on quality, craftsmanship and, especially, customer service."
Really? Do you agree that the luxury industry is slipping? I find that hard to believe, based, if nothing else, on what Luxist features every day.
Here's more (the first point's not news to us):
- Superior quality (82%), superior craftsmanship (78%) and superior customer service (60%) are the top three requirements of a luxury brand.
- 64% of wealthy consumers believe luxury goods prices are too high relative to the value they deliver.
- 62% of wealthy consumers say that the current state of the economy has changed their view of the luxury industry.
