Dior ranks #1 in the luxury industry
In 2019, the luxury industry remains in the 7th rank out of the 15 industries showcased in the 2019 Brand Intimacy Report. Dior rises to the top of the luxury industry, followed by Chanel at #2 and Louis Vuitton at #3. The Top 10 is rounded out by Cartier, Dolce & Gabbana, Armani, Gucci, Hugo Boss, Burberry, and Hermès respectively.
Brand Intimacy is defined as the emotional science that measures the bonds we form with the brands we use and love. Top Intimate Brands outperform top brands in the S&P and Fortune 500 indices for revenue and profit. Consumers are also more willing to pay price premiums for Intimate Brands and less willing to live without them, according to the 2019 Brand Intimacy Report. MBLM leverages the yearly study to help client brands create, sustain and measure ultimate brand relationships.
“Brands in the luxury category rely on creating, sustaining and developing stronger emotional relationships with their consumers. We’ve seen a tremendous increase in the industry around the enhancement and ritual archetypes, indicating that their consumers are changing their relationship to brands in the luxury category,” states William Shintani, managing partner of MBLM.
Other notable findings for the luxury industry include:
• 31% of users report being in one of the three stages of intimacy (sharing, bonding and fusing) with the luxury industry
• Enhancement and Nostalgia are fastest growing archetypes (the type of emotional relationship between a person and a brand) in the luxury category
• Consumers identified Indulgence (close relationship centered around moments of pampering and gratification that can be occasional or frequent) as the top archetype for the luxury industry
• Dior is ranked as the most intimate brand in the industry and is the #1 brand for millennials and users with low incomes
• Chanel ranked #1 with women, users in the 35-64 year segment and users with high-income
• Louis Vuitton is the #1 brand for men across all incomes and socio-economic levels
• 54.7% of users have an immediate emotional connection with Gucci, 11.6% above the industry average
• 15.1% of users in the study consider Cartier to be the most essential luxury brand (brands a consumer can’t live without), 6.3% above the industry average
• Dior, Chanel, Cartier, Dolce & Gabbana, and Armani have improved their ranking in 2019
• Louis Vuitton, Gucci, Hugo Boss, Burberry, and Hermès have fallen in rankings during 2019