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Marketing

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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MOST READ
  1. Why luxury’s next customer doesn’t look like its last 
  2. The high-net-worth consumer: 1 person, 4 tiers of behavior
  3. Next generation set to reshape family offices, with different perspectives on wealth management: study
  4. How AI is reshaping the digital and real economies: study
  5. State of Luxury 2026 report: Luxury enters new era – slower, more selective, less forgiving 
  6. Local cuisine emerges as strongest dining force in Asia Pacific as traditional restaurant settings lose edge: report
  7. Ferrari Luce: The mythology mistake that luxury brands keep making – and what it costs them 
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  10. Photos from the Luxury Commercial Real Estate Summit 2026 


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