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What makes a product to be considered as "exclusive"?

Hey, you! This week has been chaos here... but don’t worry: I didn’t forget about this week’s post. I was about to skip this Friday and leave it for the next one, but you know how procrastination can be like a tiny snowball that’s just waiting to get bigger and bigger and mess up with your plans.

I think that’s part of it: there are times as a solopreneur that you just don’t have enough time to do everything, and it’s an indication that you have to pay attention to what changes can you make to your schedule. Promise I will do that. Let’s deep into it.

ENGLISH
What makes a brand to be considered as ‘exclusive’?

The Luxury sector has been on my mind for the last couple of months. I am fascinated with the global and digital mindset that they always demonstrate in their different channels. Also, even if it is a very defined market, I consider that many other industries can benefit from learning how luxury brands approach their customers in order to apply that knowledge to their own operations.

First thing that comes to your mind when you think of a brand that belongs to LVMH, Chanel, or Hermès, is that they are known for the exclusive consumers that they have and can afford these high-quality products. But what is it? Is it just about selling something so expensive that just the minority of a market can purchase it with zero inconvenience?

In my opinion, we should mainly focus on the following:

  • Heritage & Scarcity
    It is about building a narrative of a brand’s legacy, making the consumer feel like they are accessing a hedonistic world. It can involve quality, craftsmanship, and always thinking beyond the necessary. An example? Every person who purchases a Hermès Birkin bag is going to build a sense of privilege, taste and refinement, and will become a part of history.

  • Signed by Brands
    A pattern, a colour, a design, it doesn’t matter: as long as it is representative of a strong brand, its audience is going to buy it. Brands like Apple have totally understood this since the beginning. You can feel from the first moment when you touch an iPad, iPhone or MacBook that it has been crafted based on the unique personality of their tech-savvy community. The secret is that they demonstrate knowledge, passion and core values in every new gadget they make.

  • Personalisation
    Very defined audiences are not the only way to target the luxury market anymore. Digital channels have allowed the opportunity to harness data in a way to connect with customers in personalised ways that were not possible before. We can now focus on the raison d’être of the client, because they can now choose where, when and how they want to discover a new world.