The luxury industry's accounts improve as a result of the array of 'top clients' who spend more than €50,000 per year. Despite making up less than 1% of the total luxury customer base, they account for 21% of the spending, which is more than 200 times the average consumer. Their importance has increased by twofold in the past decade. This was revealed in the most recent edition of Altagamma Consumer and Retail Insight, which presented Boston Consulting Group's research findings. According to the survey results, the 'Beyond Money' segment of shoppers is the most relevant to brands: "500 thousand individuals represent 20-25% of the total luxury market and are growing by 10% per year. They are immune to economic cycles and geopolitical crises, value luxury, and spend about five times less volatilely than the average consumer". According to the researchers, in comparison to the latter, they have more than doubled their spending in the last decade, but there is still significant room for growth. According to a quantitative analysis conducted by Boston Consulting Group, the so-called Very Important Clients purchase products from 10 brands on average but are only identified and treated as such by 2 or 3 of these. "For this reason,” according to the investigation, "in 70% of cases, important opportunities are lost, which could be recovered with a more sophisticated segmentation of the target".
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