Harnessing Customer Data to Unlock the Luxury Market

There are wealth levels, which consist of ultra-affluent, affluent, emerging affluent and potentially affluent customers. Then there's a specific type of luxury shopper: aspirational, moments of wealth, dressed for the part and true luxe. Lastly, these customers can be defined by overlapping groups: high net worth individuals, affluent women, high earners not rich yet and affluent millennials. Each segment varies widely in behavior, desires, tastes, values, requirements, income, wealth, responsiveness and other attributes.