Luxury Daily, which focuses on very high-end retail, recently released a special report, “Sports and Luxury”. The relationship between luxury fashion and sports is well-established. Ralph Lauren’s emblem is a polo player; the brand has the honor of clothing the American Olympic Team.
Luxury brands sponsor sports events and teams as part of their marketing strategy; they also hire celebrity athletes as influencers. These tactics are obviously beyond the reach of emerging luxury brands, who must find another way to compete.
What is a Luxury Brand?
A luxury brand is one defined by recognized excellence, meaningful differentiation from similar products, and an articulation of a unique spirit. Luxury doesn’t have to mean expensive, although it often does. Luxury buyers are highly motivated by quality and unique compelling experiences; there’s also a large aspirational quality to luxury brands’ appeal to the public.
Traditional & Fantasy Sports for the Affluent Buyer
Golf, tennis, and equestrian sports are among the most popular luxury sports. Their appeal is in part traditional, and in part due to the exclusive nature of these sports, which require a good amount of money to play or watch. When we consider aspirational buyers, other sports, including motor sports – think F1 racing, rather than Nascar – and college basketball become more relevant.
Fantasy sports are extremely popular. 59.3% of Americans play one or more fantasy sports regularly; football is the #1 choice, followed by baseball. Fantasy sports players are overwhelmingly college educated and affluent: they are or have the potential to be luxury buyers.
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Unique Compelling Experiences Happen on Smartphones
Part of the reason fantasy sports have become so popular is the fact they’re played on smartphones and mobile devices. Players can get their sports fix throughout the day, at a time convenient to them, without having to interrupt their schedules. Gameplay has an energizing, rejuvenating effect on the brain that many find pleasurable: that’s why people play the same games over and over again.
We know that 2/3rds of the buyer’s journey happens digitally. Sponsored gameplay is the contemporary, budget-friendly version of luxury sports sponsorship. By providing The Finer Things Fantasy Football Game to your customers, you’re establishing yourself as a player in luxury spaces – a brand that appreciates quality experiences and values your customers enough to give them a good time. Tag Heuer gets lots of business by sponsoring English Premier League Soccer. Strategically leveraging technology means you can do the same thing. Learn more about The Finer Things Fantasy Football Game here.