How to do Luxury Goods Research

Luxury goodsresearch is necessary for most companies that produce and sell luxury items. Most luxury goods are sold to the rich and, therefore, unlike common goods, they are aimed at a certain group of people, even if they are small in relation to the general population. Before analyzing how luxury goods research is carried out and why it is so important for many companies, first let’s talk about the luxury market and what it is about. Before you can research a specific market, you must first define it to fully understand what you are exploring.

Luxury market

This is where he encountered his first obstacle, because even the term “luxury” is indefinable, not to mention its market. For a man on the street, Cadillac is a luxury car, and for a driver, Rolls is just a compact car. The Jacuzzi in your home may seem like a luxury, but for others it is nothing more than a fully equipped pool and spa. Therefore, what many companies that sell so-called luxury goods will do is, instead of defining them, determine the market: or those that are more likely to buy high-end consumer goods.

What is reduced to the fact that to conduct a study of 홍콩명품, you must determine who will buy them and then explore this group? As it does? Cannot you simply send an email to the rich and ask them to complete a questionnaire for you, because they will refuse? We surrender to ourselves if we do not have incentives to do this: a free rally or some other form of compensation for participating in the survey.

Luxury exploration – practicality

In fact, the study of luxury goods is carried out differently than it would have done in the usual consumer survey. To understand why, consider for a moment any consumer survey you have done in the past. Usually, he is asked what products he usually buys, what attracted him initially and things like that. Why are you buying product A and not product B? If you use discounts and if you buy at a price or brand name, similar questions.


Now consider the rich and luxurious research. You cannot ask the same questions. Did you buy your yacht for $ 20 million for the price or the brand? It just does not work You have to go to a luxury survey in a different way, and not so much to conduct a consumer survey as to conduct a study of the buying habits of the rich.