The luxury industry has an average Brand Intimacy Quotient of 15.3, considerably below our ranking among 15 industries.
Whether it’s due to perceived economic instability, global concerns or political fallout, our study this year noted consumers are more cautious about spending more for purchases. This may have negatively impacted the luxury category. Indulgence is the top industry archetype, followed by identity. Jaguar is our top performing brand, with a Quotient score of 38.3. It has the strongest associations with the indulgence archetype and is tied with Hermes for the identity archetype. It also has a wide lead in terms of fusing customers, at 7 percent, although the industry is below average across all stages, from fusing and bonding to sharing. Hermes and Rolex come in at second and third place, respectively. Jaguar is also the top luxury brand for both women and men, those between the ages of 35-64, and across all income levels. Millennials ranked Hermes as their preferred luxury brand.
Although there’s considerable room for improvement with both brands, Hermes is currently the stronger intimate brand. It currently has 18 percent of its customers in some form of intimate relationship, compared to only 10 percent for Chanel. Hermes also has higher rates of fusing, bonding and sharing. In terms of archetypes, Hermes is stronger across five of the six archetypes. Interestingly, with indulgence, the dominant archetype for the category, Chanel performs better. Hermes also has more customers willing to pay 20 percent more for its products and services (10 percent) compared to Chanel (7 percent).
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