Less is More

Is the concept of exclusivity essential for luxury brands to thrive? BONITA CHEUNG YES “Exclusivity plays a pivotal role in defining a luxury brand’s identity and value. By offering limited product availability, luxury brands create a sense of rarity that creates desirability among consumers. The perception of scarcity not only elevates the brand’s status but also drives consumer demand, encouraging individuals to invest in products that symbolise prestige and sophistication. Exclusivity fosters a unique brand experience, allowing consumers to feel part of an elite group. This emotional connection further solidifies brand loyalty and enhances the perceived value of the products. In a competitive market, maintaining exclusivity helps luxury brands differentiate themselves and ensure they remain relevant and sought after. Ultimately, the allure of owning something unique is a fundamental aspect…