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“Why do I need to know how the watch market is doing? I’m in the business of luxury”, Patrick Heiniger, CEO, Rolex
Real Estate marketing professionals can learn from this quote, because luxury is a product category by itself. Like Rolex, you are in the business of luxury. Stay focused on the luxury market and its trends. Every market has its opportunities, and the luxury buyers can afford those opportunities. Make yourself visible in those circles where people are thriving and buying. Pay attention to the good news out there. It is more plentiful than the bad news, if you look for it.
Being in the business of luxury, it is important to get acquainted and understand the customs and the ways of buyers who are here from other countries. Rolex and other luxury brands understand the global market place. They know what works and doesn't work. They study the customs and ways of each country and tailor their marketing for success.
Recently there has been a lot of talk about reaching out to the Chinese market. One of the resources that focuses on China Luxury is Red Luxury. Here is one of their headlines, "There are 1,363 individuals with personal wealth of a billion Chinese yuan (US$150 million) in 2010, up from 1,000 in 2009 according to the Hurun Report, a luxury publishing repo..."
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