Luxury brands are boosting marketing budgets as demand for their products soars, despite big declines in global ad sales
St. Michelle Wine Estates Ltd. has increased its marketing budget by 15% year-over-year, driven by increasing demand for premium varieties, said Chief Growth Officer Toby Whitmoyer. “Lower-value wine is in decline, while the $15-plus price category is showing growth,” he said.
The decision to base the campaign around individual guests’ experiences was informed by Four Seasons’ work over the past year-plus expanding its internal data analytics capabilities and developing profiles of some two million guests, in part to better target the high earners who provide a disproportionate share of the company’s revenue, Mr. Speichert said.
About 300 people who preordered the $300,000 Aston Martin 2023 V12 Vantage sports car attended an invite-only dinner in May at the company's main factory.
Four Seasons also expanded its 24-day, international private jet experience program, with the least expensive “around the world” trips starting at $190,000 per person. Mr. Speichert said the program is 90% sold out through the end of 2023, with the company currently selling tickets for 2024.
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