Product Category: Fine Jewellery, Luxury Watches, Grandeur Accessories
Focus Market: Oman & UAE
Demographics: Considering the target product category, focus was on Women only, in the Premium and HNWI income class, of age group 18 to 50 years.
- Evaluate if consumer buying behaviour are influenced by factors such as premium price of luxury branded goods, perceived quality, societal status and brand loyalty associated with the consumption of high-fashion & luxury brand.
- Media consumption diet of the affluent class and HNWI individuals.
- Gather primary consumer data – including customer buying histories, demographic information, purchase channels, media engagement, and more – to create accurate customer profiles.
- Develop STP model to fuel implementation strategy for the principal brand.
Exploratory sequential design, where qualitative data collection and analysis carried first through structured discussion guides, followed by quantitative online survey data collection and analysis.
Findings & Insights
- The study illustrates how emotional branding is crucial in a volatile market, particularly for fashion and luxury brands.
- The study focussed on the possibility in which consumers buy the fashion and luxury products under the influence of emotional needs.
- Main reasons modern shoppers indulge in high-fashion & luxury goods is to reward themselves, because they are expensive, make themselves feel significant, to make a statement, to show off their personality or to boost their self-esteem.
- Consumer buying behaviour in fashion industry overall includes the emotional aspects of self-image, impulse purchases and continuously changing fashion combine.
- Store Credits, Special Promotions, Reward Points, Credit Payments are the prime impulse purchase contributors to high fashion & luxury goods shopping.