Commentary
Chasing Luxury
- by Lydia Loizides , Op-Ed Contributor, January 10, 2008
Answer: TBD.
One of the more elusive groups of individuals is, well, the elusive or exclusives of any market. Luxury brands are always trying to re-invent, re-jigger, reconnect with their customers. The question becomes: Can the pursuit of luxury happen in an online setting.
If anyone remembers "Life Styles of the Rich and Famous" or watches any celebrity reality shows -- their draw is providing a window into a world that the audience would never in the real world have access to. That is why that kind of programming works. The question of the "success" of exclusivity online has yet to be answered. The exclusive, the luxurious lifestyle of the rich and famous online have been brought about by companies like SmallWorld.net where, like any good ol' boys club, requires an invitation to join (you can read the latest about SmallWorld here). Now two new sites have cropped up, Squa.re and Big Think.
Big Think I like simply because it reminds me of TED and the thinking and ideas that comes from that event. Also, if you have never visited the site, you should -- and you should spend some quality time watching the videos.
Squa.re is geared more toward aggregating the famously young and wealthy which, again, is unproven but is worth trying nonetheless.
What ultimately will drive the success of these kinds of sites are luxury brands' interests in targeting these exclusive and elusive consumers in a world that is dominated by a mass mentality. Unlike television where the masses are voyeuristically watching the other side, in the online world, they can't even get a glimpse. So the value to brands is actually a reverse equation - targeting the few rather than the many. In my humble opinion: You pair these sites with some compelling television property in order to balance the access - and these sites go from an Imperfect (I) to flawless (FL).
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