Attendees at the EngraveSF event talk about print.
5 REASONS WHY PRINT IS SO POPULAR WITH LUXURY BRANDS
As ZenithOptimedia reported in their latest forecast of luxury advertising expenditure, print remains the most important advertising medium for "high luxury" advertisers.1 This is especially true for those in the fashion and accessories, and watches and jewelry subcategories.
Why is print such a good match for the luxury market? Let us count the ways...
- Print is immersive – Print magazines provide a relaxing, immersive reading experience that people enjoy. For example, a major impetus behind InStyle magazine's decision to present their print edition as a luxury product was that their readers "told us over and over again that they read us to retreat."2
- Print is stimulating – Print's tactility stimulates the senses, possibly making it easier for readers to envision themselves enjoying the product being advertised. Plus, touch helps trigger a reaction, called the Endowment Effect, that makes readers actually want the products being showcased. Scientific studies show that people who merely touch an object, or even imagine touching it, begin exhibiting a sense of ownership. Touching something else, such as a magazine, can be a cognitive surrogate for touching the object itself.3
- Print is meaningful – For example, as retailer Marie Todd has discovered, print can be used to turn packaging into a high-end keepsake, defining luxury before the customer has even opened the box.4
- Print has staying power – Print is a vital part of our lives that people feel comfortable using. Print is savored, shared, dog-eared and displayed. Consumers often keep and refer back to print publications for months.
- Print is trusted – A very important consideration for high-end brands.
With so many things going for it, it's no wonder print is a preferred channel for luxury brands to use to reach their high-net-worth customers.
1ZenithOptimedia, "Luxury Advertising Expenditure Forecasts 2016"
2GDUSA, "InStyle Presents Print Edition As Luxury Product"
3Sappi North America, Eagleman, Dr. David, A Communicator's Guide to the Neuroscience of Touch: Haptic Brain, Haptic Brand, Sappi North America, 2015
4Storyboard, "Defining Luxury Before They've Opened the Box," April 2016