How to Conduct Research for Luxury Brands

//How to Conduct Research for Luxury Brands
How to Conduct Research for Luxury Brands 2017-04-07T00:22:33+00:00

How to Conduct Research for Luxury Brands

SIS luxury brand market research

The Challenge:

The challenge for the luxury brand manufacturer is to find a research supplier that has a database of consumers, locally and globally, who purchase luxury brands. Locating these consumers is critical for the success of the project. 

Given our experience with luxury brand project recruitment, we recommend the following methods:

Given our experience with luxury brand project recruitment, we recommend the following methods:

  • Choose a supplier with a “personal network of these respondents” that has been cultivated over many years
  • Do not go to traditional panels, as it is hard to confirm if the respondent has actually purchased more than $10,000 of the luxury brand in question

Examples of Screening Criteria for Luxury Brand Purchasers:

  • The volume of purchases made in the past year
  • The use of Personal Shoppers
  • The psychological degree that they want to identify with luxury brands
  • Lifestyles, e.g. high-end travel, high-end dining, etc.
  • Income levels
  • Residences

Examples of Venues for Luxury Brand Research

At SIS, we have found that luxury brand purchasers feel more comfortable at a lunch, dinner, country club, or an upscale venue to discuss their views of the brands.

The Sample Size to yield a 90 – 95% confidence level in the data

In Luxury Brand research, it is important to note that the quality of the data is more important than the sample size. Qualitative research can yield rich insights as to the consumers’ perceptions of new products and competitor brands. Quantitative research is best conducted in a Face-to-Face setting, or with telephone recruitment to an online survey with a database that contains qualified respondents.

For more information on our luxury brand research and panels, please contact Ruth Stanat at restanat@sisinternational.com  or +1 917 536 0640.