5 Tips Marketers Can Learn From Seemingly Elusive Luxury Brands

Keeping impossibly high standards and playing hard to get can be good for business

While luxury brands may seem like an untouchable force hovering above us, there's actually a lot to be learned from their marketing techniques. Getty Images

Luxury is characterized by striving to capture the best of us, whether that is expressed through the clothes we wear, the food we eat, the places we stay or the cars we drive. While the goal is to achieve and deliver on the best of the best, the definition of luxury is always changing, shaped by and shifting to meet consumer sentiment and behavior. Today, new defining criteria of luxury are emerging based on shifts in the scarcity of certain experiences and new priorities in consumer demand. Brands are able to charge a premium for privacy, security and anonymity—all characteristics of luxury experiences born in response to consumer demand in the age of big data.

Jim Misener is the president at 50,000feet, Chicago.