As consumers cut back on many premium products in the face of ongoing economic challenges, luxury chocolate brand MarieBelle New York is benefitting from shoppers’ desire to enjoy high-end experiences without breaking the bank.
In an interview with PYMNTS for this week’s Shop Talk, Maribel Lieberman, the brand’s founder, said shoppers seeking luxury experiences, either for themselves or to gift, are turning to these elevated chocolates to satisfy that need without shelling out thousands of dollars.
“Through these economic challenges, chocolate is still something that people buy, because first of all, it’s something satisfying that can make them happy. Second, it’s a gift that’s beautifully presented, it’s delicious, and compared to, say, a handbag that costs a few thousand dollars, [it’s affordable],” Lieberman said. “So, for me, it really doesn’t make a difference when we have economic challenges like we’re going through right now.”
Overall, high-income shoppers are cutting back. PYMNTS Intelligence data show that 56% of consumers who earn more than $100,000 annually have cut down on nonessential spending due to retail product price increases. Additionally, 28% of these high earners have traded down on the quality of their purchases for the same reason. Consequently, luxury brands have been forced to cut prices and reevaluate their strategies.
“Consumers are all looking for more value for their money,” Lieberman said. “It’s not surprising, but, but we’ve seen it increase more.”
MarieBelle’s newest store at the iconic Pierre Hotel marks a significant milestone for the brand. Initially conceived as a two-month pop-up in December, the store’s success led to a permanent lease. The boutique’s refined aesthetic, coupled with its curated selection of artisanal chocolates, resonated with both hotel guests and the public, showcasing the brand’s commitment to luxury and quality.
“It’s a very small space, and I wasn’t sure,” she reflected, but the initial pop-up, adorned with high-end fixtures and furniture, “did very well,” proving its enduring appeal.
Indeed, creating the feeling of luxury is key for a high-end confectionery brand’s success. For MarieBelle, this includes both the product itself, which is “natural, handmade and artisanal,” with original designs painted either by Lieberman or her husband, as well as the in-store environment. The ambiance, the decor and the overall customer experience are meticulously crafted to evoke a sense of happiness and satisfaction.
MarieBelle’s diversification strategy includes the development of a second brand, Cacao Market by MarieBelle, which caters to a more casual, self-indulgent audience. This brand allows Lieberman to tap into broader markets through wholesale channels, reaching new audiences without compromising the luxury brand.
“It allows me to expand in different market levels,” Lieberman said.
While MarieBelle targets the high-end luxury segment, Cacao Market provides an opportunity to reach a wider audience without compromising on quality.
Plus, the luxury brand is also innovating on new products in the beverage space. Lieberman is working on developing new offerings, such as a cold chocolate drink, with plans to introduce versions that include rum or vodka.
Looking ahead, Lieberman is enthusiastic about expanding MarieBelle Chocolates’ footprint both domestically and internationally. Currently operating three stores in New York City, she plans to open a fourth and is eyeing locations outside New York.
Internationally, the brand has a strong presence in Japan, with three stores, and Lieberman expressed ambitions to further penetrate the Asian market, including South Korea, Hong Kong and Singapore, bringing that confectionery luxury abroad.
“The luxury experience for me means that people feel comfortable. They feel enchanted when they come in,” Lieberman said. “They have a harmonious feeling — something that makes them happy.”
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