The branded experience as a source of competitive advantage in luxury fashion

Abstract

This study investigates the influence of branded luxury experiences on purchasing decisions. A review of the literature addresses the luxury industry, consumption theories, luxury values, experiential marketing, and fundamentals of branded experience. Primary data was collected through interviews with industry experts and an online survey for customers. The triangulation method was used to improve the quality of the findings. The study revealed that the main benefits of branded experiences are increased loyalty, enhanced product desirability, and establishing an emotional relationship between the brand and the client. Additional significant advantages include attraction and retention of customers. Furthermore, the thesis identified key sources and elements of successful luxury branded experiences. These may include, but are not limited to, personalization, engagement, creativity, storytelling, or authenticity. Moreover, the findings suggest that firms need to focus on their retail atmosphere as well as online channels. The study also revealed that luxury firms should pay close attention to younger generations, since their preferences and needs differ from other clients. The rising trend of technology and sustainability can impact the design of effective branded experiences. The findings imply that companies should offer luxury branded experiences to sustain competitiveness and customer appeal.

Date of Award	26 Jun 2023
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Peter V. Rajsingh (Supervisor)