Luxury Study 2.0 – Opportunities to Grow the Luxury Market

Luxury Brands can differentiate with the consumer experience

Retain Owners – one-third of luxury vehicle owners are open to considering non-luxury for their next vehicle

Luxury brands have an opportunity to grow by reaching those shoppers who are “on the fence” by showing the value of the luxury brand experience

Shoppers view luxury and non-luxury vehicles similarly based on interiors, despite the pricing differential

When it comes to advertising, consider highlighting the interior features that resonate most with shoppers
> Interior attractiveness is driven mainly by paneling and seats
> Warranty and dealership experience are significantly more important to luxury shoppers

Behavioral data and consumer insights help drive a more customized approach

Approaches to personalized marketing at their company according to senior marketers in the U.S. and Western Europe.

As the automotive industry undergoes transformational change, old assumptions about consumer habits are being challenged. Looking at the latest automotive industry data and recent Google Consumer Survey results, here are the three most pronounced shifts.

The three trends are:
1) People who use car-sharing also buy cars
2) Consumer behavior us changing – and video is leading the drive
3) Bold brands think digital first

Disruptions getting a lot of attention: urbanization, gen z/millennials, sharing economy

Implications & Considerations: industry implications, dealer/OEM considerations, COX Automotive considerations.