How do you market luxury items, which by definition are exclusive, on the internet, which by definition is accessible to the masses? This is the conundrum facing the luxury products industry, explains high-end marketing strategist Uché Okonkwo, and most deluxe brands have failed to find a solution – so far. Prada didn’t even have a website until 2007. Today, countless blogs, forums and websites are dedicated to exchanging information that once belonged exclusively to the elite. For instance, in 2009, online “fashionistas” saw Madonna’s Louis Vuitton ad campaign months before the images appeared in Vogue. Thousands of savvy observers congregated on the web, talked about the ads, pronounced judgment and moved on to the next big thing. Okonkwo explores how the web has revolutionized the way people perceive, view and purchase luxury goods. She explains why the industry must do a better job of responding to and participating in the digital world. Her exposition is thorough, solid and relevant, with abundant helpful pictures, though wordiness and repetition somewhat impede smooth sailing. Still, getAbstract believes it is a landmark resource for the luxury sector and of interest to anyone in e-commerce.
In this summary, you will learn
- How digital technology affects the way people think about, talk about, sell and purchase luxury items;
- How the luxury industry should manage its web presence and exploit new technologies; and
- How to conduct high-end e-business.
About the Author
Uché Okonkwo is a luxury-sector strategist who works with brands such as Louis Vuitton, Tiffany and Co., Gucci, Cartier and Burberry. She is the founder of the Luxe Corp consultancy, editor of Luxe-Mag.com and author of Luxury Fashion Branding.