“The luxury market has reached a maturation point,” said Claudia D’Arpizio, lead author of the “Bain & Company Luxury Study.”
“Brands can no longer rely on low-hanging fruit. Instead, they really need to implement differentiating strategies to succeed going forward. We are already starting to see clear polarization when it comes to performance with winners and losers emerging across product categories and segments.”
D’Arpizio also underscored personal luxury market brands that “take an omni-channel, customer-centric approach will rise to the top.” Such is the prevailing wisdom for both the B2C and B2B luxury travel sector, specifically with personalized experiences, quality of service, and private booking options serving as primary distinguishing factors for luxe brand positioning throughout 2017 and beyond.
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