Management / Queen 'helps sell UK luxury brands'
Queen 'helps sell UK luxury brands'
8 September 2015
The Queen plays a key part in selling Britain's luxury brands abroad, according to Warwick Business School.
With the luxury market worth around £167 billion last year, many brands have found a perceived association with royalty provides a key advantage over rivals.
“Luxury goods are defined as those satisfying hedonic rather than functional needs and our research has found this is an area that Britain enjoys a distinct advantage in,” said Professor Qing Wang.
“The Queen is a significant reason for this, as a very important factor that makes Britain stand out is that it incorporates tradition and innovation seamlessly.
“Put differently, Britain’s advantage lies in the so-called soft power, which is defined as the ability to get what you want through attraction rather than through coercion, and the UK’s royal heritage is a key part of that.”
Such is the draw that British products and services have managed to insulate themselves from a recent downturn in the luxury market simply by reaffirming their link to the Queen’s and the country’s royalty, according to Mr Wang.
The research focused on the China, one of the biggest markets for luxury goods.
It found Chinese shoppers were particularly influenced by the Queen when making such purchases. Almost a quarter of those surveyed said they get their inspiration for fashion and home style from the Queen and the royal family.
A further one in six said the reason they buy British goods is because the Queen and royal family wear or use them.
The Queen is set to become Britain’s longest reigning monarch on September 9. –