Welcome to the future of luxury pricing
For high-end fashion & luxury brands, managing pricing across the global market has become increasingly challenging in the recent past.
Strategic pricing decisions are impacted by a range of factors, including:
- Currency volatility
- Local operating costs
- Competitor pricing
- Local consumer demand
- Omni-channel operating models
Failure to manage price arbitrage across international markets can impact demand, margin and brand image.
As luxury consumers continue to become more mobile – digitally and physically – this challenge will continue to occupy front-of-mind for executives leading fashion and luxury brands.
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BenchMarque provides unparalleled insight into pricing trends, analysing over 100,000 products across the global luxury market each week. Through a series of elegant dashboards, BenchMarque delivers real-time analytics to help users make informed and evidence-based pricing decisions.
- Pricing data from 30 of the world’s major fashion and luxury brands
- Pricing within nine major international luxury markets
- Full category classification covering 50+ sub-categories
- Historic and current pricing data, tracked weekly
- Currency adjustments to USD or local currency views for local inflation analysis
- Easy comparisons between brands, countries, categories, or individual items
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BenchMarque in the press: a post-brexit marketplace
Analysis conducted with BenchMarque shows that the UK is the most affordable market in the world for luxury goods.
Wall Street Journal - Luxury Shoppers' New Buying Power
According to an analysis of pricing conducted by Deloitte for The Wall Street Journal, a Speedy 30 handbag from Louis Vuitton cost GBP 645 in London, or $802 as of this past Friday. That compares to 760 euros ($850) in Paris and $970 in New York. In China, the bag costs 7,450 yuan, or $1,115.
Sky News - UK 'most affordable' luxury market in world
The UK has become the most affordable market for luxury goods in the world but shoppers from overseas may only have a limited time to cash in, it is claimed. Nick Pope, fashion and luxury lead for Deloitte in the UK, told Sky News a "handful" were already responding to lift their margins through price increases to help offset the 17% decline in the value of the pound against the dollar.
BBC News - Basement bargain bags
According to research from Deloitte, items from the designer and other luxury goods now cost less in Britain in dollar terms than anywhere else. Nick Pope, fashion and luxury lead at Deloitte, told the BBC a "period of affordability" after the EU referendum vote was proving a "demand pull" for tourists, who account for more than half of the UK's luxury goods market.