Why courting aspirational luxury consumers still matters

8 Pages

This paper discusses the importance of luxury brands focusing on aspirational luxury consumers (ALCs) rather than solely high-net-worth individuals. ALCs, who spend moderately on luxury items, represent a significant portion of the luxury market's value. The article dispels myths about ALCs, revealing they are often older, value quality over logos, and are loyal to a few brands. It emphasizes the need for tailored, data-driven strategies to engage these diverse and evolving consumers, highlighting their importance for long-term growth in the luxury industry.

Join for free to read

Case Study ‘Zero consumers’: What they want and why it matters

Report WHAT MATTERS TO TODAY'S CONSUMER

White Paper Maximizing AI ROI: Why Data Matters Most

White Paper Why learning to code still matters

More from McKinsey & Company

Case Study ‘Zero consumers’: What they want and why it matters

White Paper Why learning to code still matters

White Paper Luxury retail is about ‘emotions, not transactions’

Report Japanese luxury shoppers are embracing omnichannel

White Paper

Why courting aspirational luxury consumers still matters

Why courting aspirational luxury consumers still matters

You Might Also Like

More from McKinsey & Company