“Brand Elevation” - just a buzzword or an imperative for Luxury Brands
…a trendy phenomenon?
or a necessity for our industry and luxury brands in general? We believe that in the current physical and digital world, it is key for companies to keep the perception of exclusivity, scarcity and desirability of their products to avoid overexposure and dilution.
Brand elevation has become a buzzword these days. But what is it actually all about? Where, when and how is brand elevation relevant? Is it just a trendy phenomenon or a necessity for our industry and luxury brands in general?
We believe that in the current physical and digital world, it is key for companies to keep the perception of exclusivity, scarcity and desirability of their products to avoid overexposure and dilution. The luxury hotel industry faces unique challenges when it comes to brand elevation. Whilst all luxury brands have a reputation for exclusivity and desirability that must be maintained in order to remain successful, our challenge is how to maintain this perception while also staying relevant not only with changing consumer tastes and trends, but also staying profitable.
Branding strategies must be carefully crafted to ensure the luxury product remains desirable without becoming overexposed or losing its exclusive appeal. This requires an understanding of both current market conditions as well as emerging trends in order to create effective branding campaigns that will keep luxury hotels top-of-mind for customers looking for the ultimate experience.
Many players in the luxury industry, e.g. Gucci, Prada and others are choosing to elevate rather than not, because if they don’t, they won’t be relevant. The luxury hotel industry is a unique space in this market segment, requiring special attention to ensure that its brands remain prominent, desirable and profitable. By doing so, luxury hotels can remain competitive with other players in the luxury industry who are looking to stay connected by elevating their own products.
