Embracing 2017 with open arms: A year end update from TheTopTier Digital Media

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As 2016 is in its final hours, most in the luxury industry are happy to see the end of the year and look forward to a fresh start for 2017.

This past year was not good to the luxury industry. Europe’s largest cities saw huge blows to luxury sales as terrorist attacks caused instability and fear among potential travelers and shoppers. China continues to be a question mark as certain brands continue to suffer under the country’s strict austerity measures while other brands continue to see huge growth in demand for their products.

Here are a few quick thoughts for 2016 from you friends at TheTopTier Digital Media:

  • Bad BREXIT/Good BREXIT: BREXIT may have been bad for the UK but savvy investors know a bottom when they see one and London luxury real estate may be ripe for a rebound with a double whammy of depressed prices and favorable foreign currency rates.
  • What’s old is new again: The luxury watch market takes a beating again with the combined smartwatch revolution and an overall softness in demand for anything luxury. On the flipside, PHILIPS reported record breaking valuations for vintage luxury wrist watches from makers such as Patek Philip and Rolex.
  • You can’t stop a train: The luxury travel category continues to ignore all logic and market conditions and roars ahead as demand for unique and opulent experiences continues to dominate disposable income spending. Luxury health and wellness experiences and resorts remain the go to category for 2016 and is slated continue as a major trend through 2017.
  • Business is where you find it:  While Cadillac and Lincoln continue to struggle to find their place among luxury marques in North America, both brands are reporting robust demand for their cars on mainland China. Remember, Buick’s are considered really cool in China.
  • Does your customer speak your language? Stodgy luxury brands are going to have to embrace the new way to market as affluent Millennial’s become the core buying group for mid to upper tier priced luxury. Mobile technology and social media engagement will be the key marketing vehicles to capture the (really short) attention span of this very important demographic. Yes, that means you have to set up a Facebook page.
  • It’s all about the boys: Luxury fashion houses have seen upticks in demand for luxury men’s fashion and have increased their lines and allocation to capture market share. Could things finally get even in the square footage war at luxury boutiques?
  • Need customers? Look to the middle: In certain countries, such as India, the middle class is seeing an increase in their incomes and net worth’s and they are ready to spend on luxury brands. The problem is, they need a price point that is attractive to entry and many known luxury brands are appealing to the ‘mass luxury’ market by offering entry level products. The trick is to still maintain an aura of exclusivity when a high volume play is necessary. No one said business was easy!

Optimism for 2017 runs strong especially if you work or profit from the luxury travel and fashion business. Luxury technology is also a buzzing as many brands turn to mobile apps and other technologies to appeal to a wider audience. Luxury car makers are also all in packing their models with more standard equipment and newer technologies to attract buyers back into showrooms.

Looking ahead to 2017

TheTopTier Digital Media will be expanding its presence and services in early 2017:

  • Vacayster.com has been fully rolled out and is becoming a valuable resource for luxury villa news and listings. Look for expanding new coverage including more original and exclusive content.
  • A third party mobile app for Vacayster.com news and villa listings is being tested and will be rolling out sometime in the first half of 2017.
  • TradersNetwork.biz / @ResellLuxury will be going online in the first few weeks of January and will be an easy to use platform for individuals and businesses to resell real and authentic luxury goods and merchandise. Listings and products will be marketed through TTTDM’s social media networks offering amazing online exposure for a very low cost.
  • Development continues for the MatchOnTheLine mobile dating app with an expected launch in mid 2017.
  • The MatchOnTheLine.com landing page will be revamped and will feature online dating resources, content and mobile app information and registration page. Look for the new page to be online in mid January.
  • TheTopTier.net continues to grow it’s contributor base which continues to grow the original and exclusive new portfolio.
  • New Twitter and Facebook marketing frequencies were deployed in late 2016 and show promise for increased traffic and engagement for the coming year.

All the best to you and yours for 2017!

By Doron Levy Courtesy TheTopTier Digital Media

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