Experiential Luxury Report 2009: Ultimate Guide to the Luxury Consumer Market for Travel & Other Experiences
Unity Marketing Inc.
August 26, 2009 194 Pages - SKU: UM2422469
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| This report provides data about the purchase behavior of the nation's top quintile
of affluent high-end shoppers. The report contains detail statistics about what
luxuries affluents bought; how much they spent including product level detail for
two consecutive years for trend analysis; the types of stores that attract the
consumers' share of wallet by category; and the brands they support. Also
included are wrap ups of special investigations into the mindset of luxury
consumers, including how the recession is affecting their shopping; role of green
marketing in their purchase decisions; and how they use the Internet in support of
their luxury lifestyles.
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Additional InformationReport Excerpt:
LUXURY TRACKING SURVEY METHODOLOGY
Unity Marketing tracks purchases and spending on luxuries among affluent consumers every three months
This report summarizes the results of the Luxury Tracking Survey recording luxury purchases throughout 2008 in four quarterly surveys among 1,000-1,200 affluent purchasers of one or more luxuries in the study period. The results for 2008 are compared to surveys conducted throughout 2007 and in some case where comparable data is available for 2006.
Unity Marketing’s luxury tracking study is intended to keep luxury brand marketers’ and retailers’ fingers on the changing pulse of the luxury market. Through regular quarterly surveys, companies will better understand the shopping and buying habits of their affluent customers and anticipate how they will be spending their luxury budgets in the coming months.
- Introduction
- Unity Marketing's annual state of the luxury market report
- Luxury Tracking Survey Methodology
- Sample Demographics
- Income Demographics
- Figure 1: Income Demographics, 2006-2008
- Gender
- Age Distribution
- Figure 2: Age Distribution
- Generations
- Figure 3: Generations of Affluents
- Other Demographic Variables
- Chapter 1— About the Luxury Market
- Number of Households in Top 20 Percent
- Figure 4: Number of Households by Income, 2006-2007
- Demographics of the Top 20 Percent of Americans
- Figure 5: Household income by Age, 2006 & 2007
- Increasing Diversity in the Luxury Market
- Figure 6: Diversity of Luxury Market
- Financial Status of Affluents’ Family of Origin
- Figure 7: Financial Status of Family of Origin
- New Luxury Market Paradigm — From Things to Experiences
- Experiences Provide the Greatest Luxury Satisfaction
- Figure 8: Source of Greatest Luxury Satisfactions
- Chapter 2 - How Affluent Consumers Feel about the Economy and their Financial Status
- LCI Holds Steady At the End of 2008
- Figure 9: Luxury Consumption Index
- Key Finding: What Marketers Can Do Today to Plan for Tomorrow
- Luxury Consumers’ Feelings of Financial Well-Being
- Figure 10: Financial Well Being
- Luxury Consumers and Reported Spending Trends
- Figure 11: Luxury Spending Trends Past Twelve Months
- Luxury Consumers and Their Spending Expectations
- Figure 12: Expected Spending on Luxury Next 12 Months
- Luxury Consumers’ Confidence in Financial Health of the Country
- Figure 13: Overall Financial Health of Country
- Luxury Consumers Financial Prospects
- Figure 14: Financial Prospects Next Twelve Months
- Investments and Savings in the Current Quarter
- Figure 15: Trends in Saving and Investing Now Compared with Twelve Months Ago
- Investments and Savings in the Coming Year
- Figure 16: Trends in Saving and Investing in Coming Twelve Months
- Luxury Marketers: Take Action
- Ways Affluent Consumers Are Changing their Lifestyles
- Figure 17: Changes in Luxury Consumer Lifestyles
- Predictions for the Luxury Market in 2009 and Beyond
- Affluent Consumers Are Changing Their Behavior
- A New Personality Emerges in the Luxury Consumer Market
- Evolution from "Consuming Culture" to a "Caring, Sharing, Saving Culture"
- What's Next for Luxury Marketers?
- Luxury Marketers: Take Action
- Final Thoughts
- Chapter 3 - About the Luxuries Affluent Consumers Purchase and How Much They Spend
- Total Luxury Purchase Incidence
- Figure 18: Overall Luxury Purchase Incidence (All Affluent Consumers), 2006-2008
- Luxury Marketers: Take Action
- Luxury Purchase Incidence
- Figure 19: Luxury Purchase Incidence, 2006-2008
- Luxury Consumers’ Average Spending
- Figure 20: Average Spending on Luxury, 2007-2008
- Luxury Marketers: Take Action
- Figure 21: Trends in Spending and Purchase Incidence (2007-2008)
- Luxury Spending by Income Segments
- Figure 22: Luxury Spending by Income Segment, 2007-2008
- Luxury Spending by Age Segment
- Figure 23: Luxury Spending by Age - 40 and Under and Over 40. 2007-2008
- Luxury Spending by Gender
- Figure 24: Luxury Spending by Gender, 2007-2008
- Luxury Spending by Segment Summary
- Figure 25: Luxury Spending by Segment Summary, 2007-2008
- Luxury Marketers: Take Action
- Last Luxury Purchase Bought on Sale or at a Discount
- Figure 26: Most Recent Luxury Purchase Bought on Sale or at a Discount (2006 & 2008)
- Luxury Marketers: Take Action
- Figure 27: Percentage of Discounted Purchase and Change in Average Amount Spent (2008)
- Overview Where Luxury Consumers Shopped
- Figure 28: Where People Shopped for Home and Personal Luxuries
- Luxury Shoppers’ Favorite Luxury Department Stores and Mass/Discount Stores
- Figure 29: Store Brand Usage for Any Luxury Shopping, 2007-2008, including ultra-affluents
- Luxury Consumers’ Favorite Magazines
- Figure 30: Luxury Consumers Favorite Magazines, 2006-2008
- Chapter 4 — Experiential Luxury Purchases Detail Findings
- Purchase Incidence of Experiential Luxuries
- Figure 31 : Experiential Purchase Incidence, 2005-2007
- Spending on Experiential Luxuries
- Figure 32: Experiential Luxury Spending, 2005-2007
- Experiential Luxury Spending by Demographic Segments
- Figure 33: Experiential Spending by Demographic Segment 2007-2008
- Luxury Dining — Purchase Details
- Amount Spent on Luxury Dining
- Figure 34: Fine Dining Spending by Demographic Segment
- Fine Dining Brand Purchase
- Figure 35: Multi-Chain Restaurants Brand Preference
- Figure 36: Celebrity Chef Brand Prefernece
- Key Influencers for Dining Purchases
- Figure 37: Fine Dining Key Influencers for Purchase
- Luxury Entertainment — Purchase Details
- Amount Spent on Luxury Entertainment
- Figure 38: Entertainment Spending by Demographic Segment 2007-2008
- Key Influencers for Entertainment Purchases
- Figure 39: Entertainment Key Influencers for Purchase
- Luxury Home Services — Purchase Details
- Type of Home Services
- Figure 40: Type of Home Services Bought
- Amount Spent on Luxury Home Services
- Figure 41: Home Services Spending by Demographic Segment 2007-2008
- Key Influencers for Home Services Purchases
- Figure 42: Home Services Key Influencers for Purchase
- Luxury Spa, Massage and Beauty Treatment — Purchase Details
- Type of Spa, Massage, Beauty Treatment Services Purchased
- Figure 43: Type of Spa, Beauty Services Bought
- Amount Spent on Luxury Spa, Massage and Beauty Treatment
- Figure 44: Spa, Massage, Beauty Services Spending by Demographic Segment
- Key Influencers for Spa & Beauty Treatments Purchases
- Figure 45: Spa and Beauty Services Key Influencers for Purchase
- Luxury Travel — Purchase Details
- Foreign Travel Choices
- Figure 46: Type of Foreign Travel Bought
- Domestic Travel Choices
- Figure 47: Type of Domestic Travel Bought
- Number of Days for Travel
- Figure 48: Number of Vacation Days
- Amount Spent on Luxury Travel
- Figure 49: Travel Spending by Demographic Segment 2007-2008
- Luxury Hotel Brand Preferences
- Figure 50: Luxury Hotel Brand Purchases
- Key Influencers for Travel Purchases
- Figure 51: Travel Key Influencers for Purchase
- Chapter 5 — About Luxury Consumers' Attitudes toward Luxury
- Personalities of the Luxury Consumers
- The Extent of Luxury - How Invested Are Luxury Consumers in their Luxury Lifestyles?
- Figure 52: The Extent of Luxury in Luxury Consumers' Lives -- the Good, Better, Best and the 'I just don't care all that much'
- Figure 53: Difference in Spending on Luxury based upon good, better, best attitudes
- Changing Personalities in the 'New Luxury' Market
- Figure 54: Attitudes about Luxury, 2007 & 2003 surveys
- Shifts in Attitudes about Luxury
- A New Luxury Consumer Personality Emerges — Temperate Pragmatist
- Figure 55: Personalities of Luxury, 2007 & 2003
- Figure 56: Attitudes about Luxury by Personality Segment, 2007
- Introducing the Five Luxury Consumer Personalities
- Luxury Personalities and Their Spending on Luxuries
- Figure 57: Average Spending on Luxury by Personality Types
- Personalities' feelings about their current financial status and future status
- Demographics that define the personalities
- Figure 58: Average Income by Personality
- Field Guide to the Five Luxury Personalities
- Figure 59: Field Guide to the Luxury Personalities
- Chapter 6 —Luxury Consumers' Charitable Giving
- Charitable Giving Tops $300 billion in 2007
- Figure 60: Giving Back in Past Year
- Demographics of Giving Back
- Level of Charitable Giving
- Figure 61: Charitable Donations by Demographic Segments
- Why They Give
- Figure 62: Factors that Influence Giving
- About the Charities that Benefit from Affluent Giving
- Figure 63: Causes that Affluents Donate to
- Figure 64: Top Named Charities
- Trends in Giving
- Figure 65: Trends in Charitable Giving, 2008 to 2009
- Emerging Trend in the Luxury Market — Transition from a 'consumer culture' to a 'caring and sharing' culture
- Figure 66: Importance of Company's Environmental Practices in Making Consumer Decisions
- Giving Back Is the 'New Black'
- New Luxury Is about a Lifestyle that Is Attainable and Accessible, Fun and Personally Gratifying
- Figure 67: Affluent Consumers' Attitude toward Luxury Indulgence
- Luxury Marketers Face an Increasingly Resistant Consumer
- Where They Get their Greatest Luxury Satisfaction - What They Do, not What They Have
- Figure 68: Source of Consumers' Greatest Luxury Satisfaction
- Is a New Era of Post-Materialism Dawning in America?
- Luxury Marketers: Take Action
- Chapter 7: Luxury Consumer and the Loyalty Factor
- Luxury Consumers’ Membership in Loyalty Programs
- Figure 69: Membership in Loyalty Programs, by age and by income
- Membership and It’s Impact on Brand Choices
- Figure 70: How Strongly Loyalty Programs Influence Brand Choices
- Membership and Its Impact on Luxury Spending
- Case Studies of Effective Loyalty Programs
- Characteristics of Effective Loyalty Programs
- Chapter 8: Luxury Consumers & Their Use of the Internet
- Internet Is Growing in Importance in the Lives of Luxury Consumers
- Use of Social Networking Sites
- Figure 71: Visited Social Networking or Social Shopping Sites Past Three Months, by Age
- Use of Internet to Research Purchases
- Figure 72: Use of Magazines To Learn About Internet
- Role of Magazines in Introducing Affluents to Internet Websites
- Figure 73: Role of Magazines in Making Consumers Aware of New Websites
- Features that Attract Internet Visitors
- Figure 74: Factors that Drew Luxury Consumers to Particular Website in Past Three Months
- Use of the Internet to Support Luxury Purchases
- Figure 75: Use of the Internet to Support Purchases, by Product and Service
- How Spending on Luxury Is Linked with Internet Usage
- Figure 76: Average Amount Spent by Luxury Consumers by Product Category and Use of Internet
- Internet Applications Used
- Figure 77: Uses of Internet in Support of Luxury Goods Purchases
- Role of the Internet in Influencing Last Purchase
- Figure 78: Internet Rated Very Important in Influencing Last Purchase
- How Luxury Travelers Use the Internet
- Figure 79: Use of the Internet by Luxury Travel Purchasers
- Luxury Marketers: Take Action
- Trends in Internet Use and Spending
- Figure 80: Average Time Spent Online for Internet Shopping and Research Purchases, 3Q2007 & 3Q2005163
- Figure 81: Average Amount Spent on Internet Making Purchases, 3Q2007 & 3Q2005
- Internet Features Luxury Shoppers Value Most
- Figure 82: Features Luxury Shoppers Consider Very Important for Using the Internet for Shopping, 3Q2007 & 3Q2005
- Internet Features that Discourage Its Use
- Features that Are Very Important for a Luxury Website
- Figure 84: Features Very Important for a Luxury Website
- Luxury Consumers' Favorite Internet Websites
- Figure 85: Top Ten Luxury Consumers' Websites
- Chapter 9: Luxury Consumers & Green Marketing
- Can You Be Green and Luxury? More Luxury Brands Are Trying to Find the Connection
- Luxury Consumers & their Green Awareness
- Figure 86: Green Issues Rated Very Important among Luxury Consumers
- Women take the lead in environmental awareness
- Luxury Marketers: Take Action
- Importance of Company's Environmental Practices in Making Consumer Decisions
- Figure 87: Importance of Company's Environmental Practices in Consumer Decisions (rated very/somewhat important)
- What Environmentally-Friendly Products They Own or Recently Purchased
- Figure 88: Green Products Recently Purchased or Owned by Luxury Consumers
- Luxury Marketers: Take Action
- Willingness to Pay More for Environmentally-Sound Goods
- Figure 89: Willingness to Pay 20 percent More for Environmentally-Friendly Products
- Luxury Marketers: Take Action
- Chapter 10: Luxury Consumers and the Current Economic Crisis
- How Luxury Consumers' Shopping Behavior Is Changing due to the Current Economic Crisis
- Figure 90: Changes Luxury Consumers Have Made in Past 12 Months
- Even Ultra-Affluents Are Making Changes
- Figure 91: Changes Ultra-Affluent Consumers Have Made in Past 12 Months
- Luxury Marketers: Take Action
- Impact of Economic Crisis on Affluents' Wealth
- Figure 92: Changes in Wealth Past 12 Months
- Figure 93: Response to Changes in the Stock Market
- Specific Challenges in Managing their Money
- Figure 94: Specific Challenges in Managing Money
- Strategies Used to Manage Money Better
- Figure 95: Strategies Used to Manage Their Money Better
- Satisfaction in How They Manage Their Money
- Figure 96: Level of Happiness with How Manage Money
- Luxury Marketers: Take Action
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