Luxury Portfolio Vol. 07 Issue 02 - George Scarpias

WHEN IT COMES TO YOUR PURCHASES, WHAT MATTERS MOST TO YOU?

The world of luxury has changed dramatically in the past few years and is no longer driven strictly by a logo or recognizable brand. True luxury has become deeper and more complex and the bar has been raised for brands to tell a compelling story that has deep resonance. Our most recent White Paper, entitled The Affluent Homebuyer: A Quest for Meaning , authored in partnership with the research firm YouGov, reveals that while today wealthy consumers have more to spend, they also have access to more information than previous generations. This wealth of information has led to intense scrutiny of the details that separate elite brands from one another. At the same time, demand for the supreme integration of technology and user experience, has created opportunity and opened the door for an emergence of disruptive brands to meet consumer needs with distinct offerings such as luxury homes by-the-night via Airbnb or Black Cars on-demand via Uber. The emergence of private label brands, ranging from the indulgent Neiman Marcus cashmere collection, to the commonplace Whole Foods 365 brand are changing the way people evaluate how, where, and when to spend.

For the modern affluent homebuyer who is seeking a million-dollar property, quality is a given.

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