What type of market is Burberry in?

Burberry today is believed to be one of the leading luxury brands of the world. It is a unique luxury brand with international appreciation. Buyers are likely to use brand names as signs of quality and value, which means they are reliable (Moorthy, 1985).

Is Burberry a niche market?

Burberry is defying what other luxury retailers are struggling with in this economy. It has found its niche client-base, hedged against economic slowdown and increasing its profit margins.

What is Burberry's marketing strategy?

Promotion Strategy of Burberry

Burberry's promotion strategy revolves around conducting consistent promotional activities. It uses both traditional and modern methods to market its products and its name. Talking about its traditional marketing approach, it uses advertisement commercials, print, and outdoor advertising.

What sector is Burberry in?

Burberry's sector is Consumer Discretionary.

What is Burberry's competitive advantage?

Apart from the brand equity, Burberry's specialised product line, mainly its 'trench coat' trademark plays a more significant competitive role. Additionally, the presence of a marketing communication platform that consists of a unique complimentary social media also makes the Burberry brand more specialised.

Burberrys Success Story - Video Production - Marketing Strategy - Tell Your Brand Story

How big is the luxury fashion market?

Global Luxury Fashion market was valued at US$ 89350 million in 2020 and is expected to reach US$ 105670 million by the end of 2027, growing at a CAGR of 2.8% during 2021-2027.

Who is Burberry's target market?

Highly dominated by women with a high disposable income. It is famous for its celebrity appeal. With stores located in largely populated, wealthy and tourist attractive cities.

Who are Burberry's competitors?

Burberry competitors include LVMH, Tommy Hilfiger, Gucci, Armani and Billabong.

Is Burberry considered luxury?

Most valuable global luxury brands 2021. This statistic depicts the brand value of the leading 10 most valuable luxury brands worldwide in 2021. In that year, Burberry was the ninth most valuable luxury brand worldwide with a brand value of about 3.9 billion U.S. dollars.

Where does Burberry advertise?

Burberry has switched the focus of its marketing away from glossy print advertising in favour of digital investment. The luxury fashion brand is promoting the launch of its fragrance Burberry Body through Facebook, instead of glossy fashion magazines for the first time, according to the Financial Times.

What is Burberry known for?

Burberry is a British luxury fashion house headquartered in London, England. It currently designs and distributes ready to wear, including trench coats (for which it is most famous), leather goods, footwear, fashion accessories, eyewear, fragrances, and cosmetics.

What other product categories should Burberry be entering?

Burberry should be entering launch like jewellery and cosmetics.

What is the target market for Louis Vuitton?

More specifically, Louis Vuitton targets the following two segments: wealthy middle aged women from 35 to 54 years old and affluent young fashionable female adults aged 18 to 34 years old who have disposable income and are brand aspirants.

What makes Burberry stand out?

Burberry sticks by its British identity, promising its customers the true-blue English style, through clean and smart designs, with checked prints being a well-recognized symbol of the brand. The Burberry trademark also gives consumers the assurance of consistency in the quality and durability of products delivered.

What is Burberry's unique selling point?

The Unique Selling Proposition for Burberry is to deliver British culture and innovative design product. Burberry has a diversified offer across appeal categories, Accessories and beauty.

Who is Burberry's biggest competitor?

Is Burberry sustainable?

The British luxury brand Burberry becomes part of the Sustainable Luxury Movement: In addition to a fairly produced coat collection, the luxury label has a climate neutral Aimed for production by 2022. Especially for that Fashion industry this is an ambitious goal.

What kind of people buy Burberry?

As I mention, the current target audience of Burberry comprises of high-class people, mostly celebrities. And their main focus is the Burberry heritage product – trench coats. The target audience of this strategy is men-women between the ages of 20-45 years from middle income to lower upper income group.

How did Burberry redefine its target audience?

Burberry target audience is designed for both sexes however it is dominated by the female target audience who have a high disposable income. The brand has their own childrenswear range which can appeal to parents but are likely to be people from wealthy backgrounds.

How much does Burberry spend on digital marketing?

The fashion brand is said to spend 60% of its marketing budget on digital channels, about three times the average investment by most brands in most sectors. It backed the launch of its Burberry Body fragrance earlier this year with a Facebook campaign, instead of the usual glossy fashion magazine ads.

Is luxury fashion an oligopoly?

Today, they have a rich portfolio of brands and the structure of the luxury market is almost oligopolistic.

Is fashion industry an oligopoly?

From the angle of market concentration, the fast fashion clothing market of our country is oligopoly III.

Which country is the largest market for luxury goods?

Luxury goods industry revenue worldwide 2020 & 2025, by country. Ranked by yearly revenue, the American luxury goods industry lead all other nations by far, generating around 65 billion U.S. dollars in 2020. The Chinese luxury goods industry ranked second with revenue of around 39 billion U.S. dollars.

How is Burberry different from other brands?

Burberry is a brand that is strongly integrated with British culture. Its value proposition (the benefits that consumers expect by purchasing a product) is grounded on both function and emotion. The functional benefits are high-quality, product category variety, and innovative, modern styling of classic designs.