luxury brands are dangerous to lose a generation of close to customers

Luxury companies sell themselves satisfied their existing customers, and ignores the next generation of Millennials. This attitude might the future business, because millennials "skeptical" of luxury brands like Louis Vuitton and Burberry are according to a report by Pam Danziger at Unity Marketing. Until now, luxury brands have taken the easy route and markets for their reliable customers. Prada Outlet New York "Luxury Marketing is a challenge, their brands to the next generation of well-educated young people who are soon to be newly rich people," said Danziger. "Luxury brands have to adapt to this new generation of luxury consumer needs in the marketplace." Reach the younger generation is a challenge, because research shows that young people think luxury brands are too expensive and not worth the cost. While millennials do much of the market today, Danziger predicts that 2020 will be much richer and buy more expensive products. Commercialization of youth should be "a priority for top luxury brands, says Danziger: "Understanding the aspirations of Generation Y for a luxurious lifestyle is important for luxury brands, including that money, status and success means to them. You need both to new products, services, marketing strategies and branding concepts innovative, and let go of old ideas that. prove ineffective or even against-productive for the commercialization of this new generation "