Location, location, location is the concept for urban luxury and Cadillac redefines how to profit from this theory. The element of concept planning is that theory guides research. In 2010 Cadillac reported double digit gains in New York, Los Angeles, and Miami all three locations known for their urban luxury lifestyle.
No shocker that Cadillac U.S. sales rose 35% in 2010 to reach 146,925 and making Cadillac the fastest-growing major luxury brand in the United States. What recession? For December the luxury brand reported sales of 16,718 an increase of 13% compared to the same period last year. As for retail sales Cadillac’s sales increased by 36% for an entire full year and 28% in December 2010 for the best over all total and retail sales months since March of 2008. They reported eleven consecutive months of year-over-year total and retail sales increases.
The luxury brand took the concept of urban luxury and targeted the top 20 markets achieving double-digit sales increases in 18 of the top markets. Branding their urban luxury lifestyle concept in New York, Los Angeles, Miami, Dallas, Atlanta, Chicago, Denver and San Diego. Cadillac informed and educated luxury consumers about their redesign 2010 model year SRX. The introduction of the engineering process and advanced technology offered a brand awareness that associated Cadillac with urban luxury lifestyle. Adding social media promotions and Internet marketing to the mix.
They were also able to position the established Escalade brand as sales increased by 16% totaling 3,814 in December for 2010 up from 2009. Overall Escalade sales were up 4% for the entire year at 26,874 sales. December was Escalade’s highest total and best retail sales in two years.
Cadillac recognized that in order for a luxury brand to sustain it would be necessary to reach the best desired target audience. They formed an alliance relationship with luxury hotel Ritz-Carlton for a series of training programs to elevate the customer experience in showrooms and in service departments.
“Cadillac and its dealers made a concerted effort in 2010 to take all aspects of our business to new levels,” said Kurt McNeil, vice president for Cadillac sales and service. “As the luxury auto market recovered, Cadillac was poised to provide customers with compelling new products and enhanced service. We’re confident these efforts will continue to pay off for the brand and reinforce our place as the New Standard of the World.”
To adopt an urban luxury lifestyle concept for your luxury brand you should first define which top markets you would like to target. Ideally, you should seek to target New York, Los Angeles, Miami, Dallas, Atlanta, Chicago, Denver and San Diego known also for their urban luxury lifestyle. Your luxury product should provide lifestyle elements that fit into the urban luxury lifestyles in certain area locations.
If you are interested in following trends and practices about Urban Luxury please follow http://Twitter.com/urbanluxury on Twitter.
