In the Psychological Pricing article, I talked about how to use your pricing to portray value and affordability to the customer. Now, let’s look at a different market, the people who are willing to pay a premium for quality, service, and personal attention. With the news that “Luxury goods are making a comeback”, it is important to understand how to cater to the needs of the “Luxury Market”.

Luxury Pricing is less concerned with projecting affordability, and more concerned with projecting quality (and perhaps exclusivity). If you are marketing to high end customers, it is important to understand their expectations. Your website becomes your boutique and your customers expect to be impressed. The following are some features that are expected when promoting the customer’s perception of quality:

• Easy Navigation – your potential customers are willing to spend time shopping, not trying to figure out how to shop.
• Visuals – make sure you have high quality photographs and/or video of your products.
• Seamless – If you do have any animation, Java scripting, or video, make it integrate with your site unobtrusively.

While the above can apply to every online store everywhere, the following can be highlighted to point out your personal involvement and commitment to your customers and products.

• Personal Attention – Let your customers know that you can be counted on to personally answer questions and address concerns.
• Flexibility – Let your customers know that you are willing to work with them to accommodate their needs
• Quality Statements – Stand by your product by offering a strong refund/return policy.

Having a quality site coupled with your quality products can build customer loyalty. A loyal customer base will result in increased traffic and more sales for you.