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Is experience marketing a necessity for brand survival?

Recent industry reports have noted how 78% of millennials would rather spend money on a memorable experience or event rather than buy desirable things.

Luxury: A State Of Mind In The Whisky Industry

In todays world, we all have a different perception of what is considered a luxury. As the definitions are increasingly personal, ranging from physical goods or possessions, to a feeling of freedom or time, understanding luxury has become an increasingly complex task for marketers.