A 2018 global survey by Accenture Strategy of 30,000 consumers in 35 countries indicated that nearly two-thirds of them (62%) find brands with high ethical values attractive. That’s potentially a problem for companies in the luxury sector, because people often see luxury goods as a wasteful self-indulgence and potentially damaging to the environment, especially if they are highly engineered or decorative.
Research: How to Position a Luxury Brand as Sustainable
Highlight your company’s commitment to craftsmanship.
September 10, 2021
Summary.
With a growing demand for companies to produce products that meet high ESG standards, luxury goods companies need to find a way to present their products as something other than markers of wealth and social status, all while preserving these cachets. This article argues that they can best square this circle by focusing on authenticity through their commitment to the craftsmanship and art of their employees in their customer engagement. The authors present French luxury goods company Hermès as a case in point.