The Kantar BrandZ world’s most valuable brands report is out, and it’s sobering. The world’s top 100 most valuable global brands lost 20% of their value in 2023, and across the 13 vertical categories tracked, every one experienced a decline.
Pearls for men are having a fashion moment, but many wonder if it is a trend that has staying power. Mikimoto, a name synonymous with pearls, is counting on the men in pearls trend to last.
The concept of the Unique Selling Proposition (USP) has been enshrined in marketing and sales circles for decades. Advanced by advertising executive Rosser Reeves in the late 1940s and 50s and then introduced into the lexicon in his 1961 book Reality in Advertising, he called on brands to extend their product advertising from product features to the specific unique benefits their product delivers to consumers.
Perhaps there is no more contentious issue in the luxury market today than what makes a brand “real” luxury? The industry establishment frequently claims that this brand or that one simply doesn’t measure up to their inbred standard, thus negating it as a competitive threat. But all that is changing, as the very definition of “luxury” is undergoing a paradigm shift in the consumer market.
We’ve been told a consumer’s path to purchase proceeds in a straight line: awareness, familiarity, consideration, purchase … and if done right, it leads to brand loyalty. It’s a logical step-by-step progression model and gives brands the confidence to manage customers’ engagement and activate them along each step in their journey.
