What’s going on

Fourth Edition of the IE Luxury Barometer report prepared by IE and Mastercard. China is one of the key players influencing the luxury market last year, according to the experts who participated in the IE Luxury Barometer 2017, prepared by IE and Mastercard’s Observatory for the Premium and Prestige Products Market.

Other factors they highlighted include the innovative changes brought about by the digital revolution and the need for increased competitiveness in the sector, along with the difficulties companies face in differentiating themselves. All of these factors have helped to position creativity as an essential part of the sector’s strategies. At the same time, building memorable experiences for clients continues to play a pivotal role for the fourth consecutive year. The study reflects the list of key issues cited by industry professionals during 2017, which they say will continue to influence their priorities this year.

Earlier editions of the report were based on the experiences of European experts, while this year the scope of study was expanded to include professionals from the United States, bringing greater relevance and depth to the analysis.

The experts surveyed attribute the increased competitiveness of this segment to market saturation and increasingly demanding customers. Given the growth experienced in previous years, these factors have taken on greater precedence. However, the issues that most concern the main players in the industry are those related to accessibility and customer relations.

01 Feb 2018