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  1. Longevity is the breakout trend in luxury real estate: report
  2. Longevity, accelerating wealth transfer making family finances more complex for HNW and UHNW US consumers: report
  3. 4 tech trends transforming luxury marketing in 2026 and beyond 
  4. Monaco Yacht Show, eyeing UHNW business, attracts 117 superyachts, 560 exhibitors
  5. Online retail pitfalls: A deep dive into FTC’s mail order rule
  6. China’s Hainan island to become formidable luxury retail destination with new 1,000-brand DFS Yalong Bay development
  7. AI transforming marketing, but not as much CMO function: report
  8. How AI shopping can quietly erode brand loyalty – and what it means for luxury 
  9. 2025 likely to be time of reckoning for many fashion brands: report
  10. Human-led hospitality – critical driver of workplace performance in every sector – being overlooked: report
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How luxury brands should retain the attention of Very Important Clients and One-Percenters in China and elsewhere

March 4, 2024

British department store Harrods has introduced the Harrods Residence, a private members' club in Shanghai, featuring exclusive perks such as access to Gordon Ramsay's first restaurant in China, a selection of rare whiskies and private jet services, with membership fees starting at approximately 20,000 euros ($21,700). Image: Harrods British department store Harrods has introduced the Harrods Residence, a private members' club in Shanghai, featuring exclusive perks such as access to Gordon Ramsay's first restaurant in China, a selection of rare whiskies and private jet services, with membership fees starting at approximately 20,000 euros ($21,700). Image: Harrods

 

By Mickey Alam Khan

There is no getting around this reality: the core customer base for luxury goods is not growing significantly, necessitating a strategic focus on top spenders to sustain revenue.

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