Kadence 2018 Luxury Index

Kadence International
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Key Takeaways
- Discover the biggest universal drivers for luxury

- Discover which components were most important to different markets around the world

- Discover the importance of the experiential factor of a brand

The Kadence 2018 Luxury Index is a study across 13 markets, including 98 luxury brands across 7 categories, speaking to a total of 5,775 consumers to explore the drivers of Luxury. Our robust data resulted in a tailor-made Luxury Index comprised of eight principle components. Defined by Kadence through initial qualitative research, these were:

  • Product quality - high specifications and craftsmanship, as well as (at times) service and the latest technology
  • Product distinctiveness - where others recognize the brand or the design as either unique or identifiable – or both
  • Brand heritage - a brand story that is established and has a sense of tradition that is widely accepted
  • Enduring appeal – Timeless appeal of the brand and its ongoing relevance to society as well as it’s keeping to its core vision and values
  • Status - an opportunity to ‘show off’ and feel that you have ‘made it’ in life
  • Exclusivity - the less attainable nature of the brand, generally represented by the price and available quantity of the range
  • Feel good factor - how using or owning the brand makes you feel, how it might improve your self-esteem or make you savor​ experiences with the brand
  • Experiential - experiential aspects of a brand are the in the moment feelings and experiences – such as exclusive environments or multi-sensorial experiences
Maybe unsurprisingly, product quality and brand heritage were the two biggest universal drivers for luxury, with exclusivity being the least important driver across all markets. When looking at the categories that are more luxurious, interestingly, cars, jewelry and watches were seen to be most luxurious. However, jewelry turned out to be strong in the west, with Asia being very much dominated by cars.
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Author Bio:

 
Kadence International
Kadence International | New York 26 Broadway, #301 New York, NY 10001 www.kadence.com
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