The US market is a still a growing, and appealing market for luxury brands.
European luxury brands have seen great success in the US market. While the potential for success in the US market is significant, European premium beauty brands must understand the underlying growth drivers, market structure and evolving consumer demographic shifts that will equip them for success when entering the growing, yet highly competitive, US market.
The US market is growing faster than the European market. With its size and strong growth trajectory, the US should be an attractive growth priority for European luxury brands to expand their global footprint.
The colossal size and high growth rate of the US luxury goods market represents an attractive growth opportunity for European beauty brands. However, fierce competition, dissimilar channel dynamics and rapidly evolving consumer preferences are significant challenges through which European brands must navigate strategically. There is a compelling opportunity for European brands to leverage their rich experience to capture market share in specialty retail, a channel in which US consumers have demonstrated greater levels of sophistication. While opportunity abounds for European brands that wish to enter the US, it remains critical to identify appropriate and meaningful partnerships with local players to navigate the vast, complex and mature US market.
The underlying goal of any business is to drive growth. This is Second Time Partners’s sole purpose: providing luxury brands with access and expertise to grow in and with the U.S. market.
Challenges for European Luxury Brands
Despite many cultural similarities and consumers with similar shopping behaviors, Europe and the U.S. are still very singular marketplaces in their own way. The US has a very different perception of private- label brands, workplace culture and set of social values. Yet there is also a great deal of admiration for European heritage and high-end brands.
Conducting extensive research and analysis on the U.S. marketplace is critical to success for European luxury brands. A deep understanding of the competitive landscape, consumer perception and marketing operations are essential to forming a go-to-market strategy.
The US market is highly saturated with competitive brands and standing out is a challenge. Brands that have successfully built awareness have adopted a cross-channel approach, using a mix of paid and organic channels to build a fan base over time, and successfully reinforced their messages via social media and public relations.
The most important development propelling luxury european brands toward overseas expansion is the rise of digital technologies that have made it possible to move into international markets without the high cost of building a physical presence. Faced with this new opportunity to gain market share and learn at the local level, at a lower cost and risk, even smaller retailers like are able to reach the luxury market in the US.
Finally, having a local team on the ground is critical to success in the US, especially in the area of online/offline marketing where Second Time Partners excels.
Market Expansion Services
Our Market Expansion Services are:
Choose from a complete range of specialized marketing services: Market analysis and research, marketing and sales, training, logistics and after-sales services.
Our services are precisely tailored to meet your exact needs.
Our intelligently integrated and tailor-made services deliver seamless end-to-end solutions – no matter how large or small your requirements are.
Our service philosophy
Our business is about more than simply the exchange and promotion of luxury items, but rather taking on a profound responsibility for your products and brand. Our specialists proactively provide strategic advice based on their experience, know-how and networks, gathering data from our hundreds of thousands of customers and translating it into highly detailed and up-to-date market information. With us, your luxury brand is in good hands.
How can our services help your luxury brand ?
We provide for you a combination of strategic advice for the U.S. market and the support of the execution of market development strategies. Many businesses have often not the capacities to develop new markets – here we can help you in the United States by:
– Understanding the different segments of the U.S. market
– Identifying opportunities
– Analyzing competition
– Expanding on the U.S. market
– Entering the U.S. market efficiently
– Supporting your business growth
– Translation and localization services
– Other custom marketing services
Renowned for second-to-none quality in every aspect of our business, Second Time Partners is the ideal partner for luxury brands seeking and international expansion.
Contact us today!