Luxe About Fun, Not Showing Off
By Staff -- Gifts & Decorative Accessories, 10/1/2006
The cliché of status concerns driving luxury purchases no longer holds up, according to a study of over 1,000 luxury consumers conducted by Unity Marketing, Stevens, PA. With an average age just over 43, and income of almost $150,000, these shoppers represent the target market for specialty retailers. And they're willing to pay for a pleasant shopping experience: enjoyment and pleasure top the reasons to shop listed. It was the only response that more than half the participants identified with.
On the other hand, none of the answers having to do with image (exclusivity, status, social standing, or others' expectations) rose above 13 percent. Super-affluent shoppers (those with incomes above $150,000) were slightly more concerned with these factors.
For retailers, this means lightening up on the traditional elegance approach and presenting luxuries as fun for their own sake.
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