Luxury brands get creative to keep buyers spending
They offer gifts, hold joint events to drum up business in challenging 2014
Property market wobbles and a fragile share market are forcing high-end retailers to resort to novel ways to keep big-spending customers ringing up the tills.
Their gambits include offering luxurious gifts to top clients and tying up with other brands to co-host special events.
Luxury retailers told The Straits Times that business is holding up and they forecast stronger sales in Asia as a whole this year, but they also expect they will have to work harder to get that business.
Although these retailers cater to a wealthy clientele with plenty of cash to spend even in downturns, they are not immune to economic slowdowns.