Businesses selling high-end products face low volume sales and fierce competition. But with the right branding, the sense of customer loyalty can’t be beaten
Building a luxury or premium goods business is not for the fainthearted. Both markets are notoriously difficult to enter, and while the rewards can be great, the risks are high.
Competition in luxury markets is fierce, primarily because the customer base is comparatively limited and, due to the high prices, repeat purchase is not a regular phenomenon.
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Source: Guardian