Arguably, both luxury and premium are two of the most overused words in the marketing landscape. When you can have luxury and premium cars and watches, right down to luxury and premium biscuits, the words cease to have quite the impact that aspirational marketers might hope—and may mean even less to consumers.
It’s fascinating how certain themes emerge in the marketing world. One that has been impossible to ignore in recent years is the massive growth of the luxury sector which, if we believe everything we read, has been fuelled by ‘greedy bankers’ and ‘emerging global economies’ (China, India et al). While the rest of the economy went through a credit crunch, the richest in society got richer, their numbers grew and of course, brands followed.