Speaking in the third part of MediaTV’s series on luxury brands' marketing strategies, sponsored by the Financial Times, Seibert says consumer behaviour has changed in the last year through an emphasis on sustainability and a stronger focus on auto brands they feel have a long-term future.
“Nowadays we see customers being more selective about from whom they buy and they are looking more at the values and the heritage of the company they buy from and also their approach to sustainability,” he says. “After several players have dropped out of the market in the last 12 months, customers increasingly care about whether the brand they buy will still be around six or 12 years from now.”
Seibert also addresses the question of balancing mass appeal with exclusivity, which he says is more a matter of quality than restricting quantity.
“You don’t need to be small to be premium,” he says. “It’s more about quality - quality in a wider sense. Product quality is certainly one part of it but, on the other hand, the quality of customer care or retail experience and the sales services is very important.”
The series, which will continue to run over the next few weeks, has previously featured interviews with Shanghai Tang executive chairman Raphael le Masne de Chermont and Fabergé's CEO Mark Dunhill.
To see previous MediaTV interviews, click here.
To see MediaTV interviews as soon as they come out, sign up for Media's email bulletins.
“Nowadays we see customers being more selective about from whom they buy and they are looking more at the values and the heritage of the company they buy from and also their approach to sustainability,” he says. “After several players have dropped out of the market in the last 12 months, customers increasingly care about whether the brand they buy will still be around six or 12 years from now.”
Seibert also addresses the question of balancing mass appeal with exclusivity, which he says is more a matter of quality than restricting quantity.
“You don’t need to be small to be premium,” he says. “It’s more about quality - quality in a wider sense. Product quality is certainly one part of it but, on the other hand, the quality of customer care or retail experience and the sales services is very important.”
The series, which will continue to run over the next few weeks, has previously featured interviews with Shanghai Tang executive chairman Raphael le Masne de Chermont and Fabergé's CEO Mark Dunhill.
To see previous MediaTV interviews, click here.
To see MediaTV interviews as soon as they come out, sign up for Media's email bulletins.
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