It amazes me how so many luxury retailers are reducing prices and offering discounts just to get business. Yes, we are in a recession but luxury can be a recession proof business if retailers stick to the plan of selling the luxury perception. However, looks like retailers are entering a panic mode and buying into the media scare of luxury is in a recession.
Everywhere you turn from high-end malls to luxury boutiques you keep seeing the word SALE! Why is luxury being offered as a sale? Shame on luxury boutiques for using the word sale! You just tossed your entire business concept OUT the window.
There is nothing wrong with giving special customers V.I.P offers but please kill the word sale! When you use the word sale you hurt the character of high-end luxury. What does sale present to your target audience about your luxury brand?