The demand for luxury goods has undergone a significant shift in the recent years. There are more people who are able to purchase luxury cosmetics as well as other luxury brands like hand bags and cars.
There is a trend observed, a lot of consumers are saving up on basic goods, so they can purchase luxury goods later. This phenomenon is caused by emotional attachment to the experience of certain products. The same phenomenon has a great impact on luxury brands like Chanel, Revlon and L’core Paris.
New luxury is being created; nowadays middle class consumers are allowed to purchase new types of luxury cosmetics like L’core Paris. Traditional brands like Louis-Vuiton and Dolce&Gabbana remain far from the middle class, but brands like L’core Paris have found ways to reach out to more clients by creating a variety of product prices. L’core Paris offers facial creams and exfoliators that cost around $160 to $3,000. Customers have the power to select which types of products they need. Middle class market consumers are given a chance to try the products and because of this changes and product innovations emerging brands like L’core Paris was able to dominate the market. It has created new opportunities and democratization of luxuries. It was also able to remove the L’Core Paris complaints being made by previous clients due to a more effective branding and targeted formula.
L’core Paris originally started in France, and soon expanded in the US market. It was able to estimate a growth in the luxury spending of the USA, and it has decided to enter the US market and get a share of the $400billion annual sales that is being created and redirected in luxury brands alone. It was able to establish good and sensible product branding by understanding what are the needs of their clients and why do they buy luxury cosmetics. Despite the fact that a lot of people buy luxury brands to impress others, the manufacturers of L’core Paris has focused on creating skin care creams that are able to provide effective results on the skin. It did not simply rely on the fact that people are going to buy the products just to brag the purchase with others, it wants to establish the fact that L’core Paris are purchased because there are no L’core Paris complaints due to the sheer quality of the products.