July 25, 2019

Integrated brand experience agency Mode recently released a study that explores how premium home goods brands are connecting with consumers. The study looked at more than 4,500 data points from about 140 successful brands across 16 different categories – from fans to cookware to small kitchen appliances – and found that there are several trends and techniques that stand out.

Successful Luxury Brand Strategies
A handful of consistent themes was evident across all premium kitchen and bath categories. Rather than across-the-board excellence, these companies focus on reaching the high-end customer through five areas of emphasis:

1. Their brand voice and image are executed distinctively.

Manufacturers at the luxury level convey a consistent tone of voice and brand image across all channels – whether communicating the function of their product range, the ways their products fit into customers’ lives or the brand’s heritage.

2. They build stories around the key pillars of the premium mindset.

This can be a specific heritage of craft, a higher level of engineering or a purpose-driven design that leads to a higher level of product. Brands doing this lean heavily on history and prominent product collaborations – similar to a fashion brand – to carve out a distinct territory in crowded categories.

3. They maintain a consistent voice, while adjusting strategy for each channel.

They apply what they understand about their relationships with different audiences to maximize the impact of their work. The digital and physical experiences they offer are important, but they also use channels like Instagram to cater toward customers’ design aspirations.

4. They create desire through experiences that speak to their customers’ evolving relationships with their homes.

Through these, they increase their premium status, while continuing to be relevant and accessible. These brands use attention to detail in their image and identity to create desire for their products – all the while remaining approachable and accessible to a broad audience.

5. They balance access, function and experience.

These brands are shoppable across several channels, provide enough substance to inspire and maintain a critical level of accessibility. They deliver experiences that evoke quality and help guide the consumer’s purchase.

Additional Trends Affecting the Luxury Market

1. Shifts in Consumer Mindset

Having a premium status is more attainable and is expected by today’s consumers.

2. Changing Context in the Home

Consumers are investing in signature items that enhance their experiences at home, whether for entertainment, performance or convenience.

3. Evolving Path to Purchase

Savvy consumers are seeking out and procuring premium products in more ways than ever; Google searches for premium appliances are up 224 percent over the last five years.

4. Expanding Competitive Ecosystem

The ecosystem is becoming more complex as established, integrated brands compete with newer direct-to-consumer-focused competitors.

Check out the original study here: https://thewayhome.madebymode.com. This study was provided by Mode, which can be found at https://madebymode.com.