Understanding emerging markets and associated trends are crucial for premium brands

Although growth is still possible in so called established markets, the real opportunities are in emerging markets such as Middle East, Asia or Latin America

Understanding the HNWI and Luxury Shoppers from Emerging Markets

Insights on HNWI and luxury shoppers in emerging markets
Insights on HNWI and luxury shoppers in emerging markets

For an established premium brand in Western Europe or US, identifying the new opportunities in selected emerging countries might be a game changer. Though, the challenges rely on being able to deeply understand the road-blockers any brand would encounter while trying to enter those markets. At Insightys we help premium brands to successfully enter in emerging countries by:


Understanding local behavior:  attitude towards luxury or wealth management might vary extremely from Western Europe to Emerging Countries. For example, having an overt attitude towards money and luxury goods can be very common in Middle East - without any cliché - while in Western Europe covert attitudes can be more common. Even within GCC markets, culture, tradition and religion can influence the customer behaviors from one country to an other one.

Identifying and sizing the right target group: as a consequence, existing target groups from established western brands may not be similar in Latin America, Middle East, Russia or China. For every product or service to be launched in emerging countries, the target group is specific and needs to be identified and sized according to local perspectives.

Developing breakthrough value proposition: what works in established markets may need to be adapted to integrate the local needs, habits and expectations. For example, in central Asia luxury is often associated to ancient tradition and royal heritage. What does it mean for a luxury brand which will rather associated its identity to fashion and trendy designers ? The need for developing appropriate value propositions and customer experience according to local expectations is fundamental in emerging countries.

Providing access to local network to support local launch: entering a new market is always a challenge even more in an emerging one. Cultural differences in attitude towards partnerships and commercial relationships might appear as a strong risk for new entrant.  We help premium brand access trustworthy commercial, technical and strategic partners to ensure successful launch.