Kadence International's Luxury Index 2018 report, a global study into perceptions of luxury, finds that experiential marketing and exclusivity do little to drive perceptions of luxury for most consumers.
"The recent trend in ‘experiential’ marketing in luxury over the last few years seems it could potentially be a misstep in most regions," the authors wrote. Experiential rated higher in China than in any other market, however.
Brand heritage and consistent quality emerged as the most important components of luxury perception. Even status, traditionally seen as a key driver of luxury in APAC, lags behind these two factors in importance.
Kadence interviewed 5,775 consumers across 13 markets about 98 brands. The study focused on eight principal components of luxury: product quality, product distinctiveness, brand heritage, enduring appeal, status, exclusivity, feel-good factor, and experiential.
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For the record, the most luxurious brands on a global basis (as opposed to the 'west' and 'Asia' rankings shown above), were:
- Rolls Royce
The report also breaks down the top brands on each of its eight principal components of luxury and offers evidence that awareness is not necessarily linked to luxury (though it can be, depending on the brand).