HOW TO CAUSE CUSTOMERS TO FORGET ABOUT PRICE.                              In 2022, Bernard Arnault was the world’s wealthiest individual. In 2023, he is ranked number 2 behind Elon Musk. Arnault is the Chair and CEO of LVMH – Moët Hennessy Louis Vuitton, the […]

HOW TO CAUSE CUSTOMERS TO FORGET ABOUT PRICE.                              In 2022, Bernard Arnault was the world’s wealthiest individual. In 2023, he is ranked number 2 behind Elon Musk. Arnault is the Chair and CEO of LVMH – Moët Hennessy Louis Vuitton, the world’s largest luxury goods conglomerate. LVMH owns Dior, Fendi, Gucci, Chanel, Celine, Bvlgari, Marc Jacobs, Sephora, Hermes, Moet, Hennessy, and many more luxury brands we all know. The turnover of LVMH in 2022 exceeded 80 billion euros, up 23% from the previous year. The success of LVMH has been attributed to many factors, including the determination and brilliance of Bernard Arnault. The brilliance of Arnault and his team has been reflected in a capacity to cause customers to forget about the price. Causing the customer to forget about price can be a powerful strategy for…