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Published by: Unity Marketing Inc.
Published: Aug. 1, 2006 - 150 Pages
Table of Contents
- Chapter 1 — Introduction
- Luxury Consumers Just Want to Have Fun
- • Figure 1: Motivators of Recent Luxury Purchases, Rated Very Important
- Happiness Is the Ultimate Luxury
- People have a happiness ‘set point’ that is resistant to change
- Money doesn’t buy happiness, in fact the pursuit of wealth may make people less, rather than more happy
- Influencers of Most Importance When Shopping for Home Luxuries
- • Figure 2: Influencers Rated Very Important in Most Recent Luxury Home Purchases
- Key Findings for Home Luxury Marketers
- Key Influencers for Art & Antiques Purchases
- • Figure 3: Art & Antique Purchases: Key Influences
- Key Influencers for Electronics & Photography Purchases
- • Figure 4: Electronics & Photography Purchases: Key Influences
- Key Influencers for Home Decorating Fabric, Window & Wall Coverings Purchases
- • Figure 5: Home Decorating Fabric, Wall and Window Covering Purchases:
- Key Influences
- Key Influencers for Furniture, Lamps, Floor Coverings & Rug Purchases
- • Figure 6: Furniture, Lamps, Floor Coverings and Rug Purchases: Key
- Influences
- Key Influencers for Garden, Outdoor, Patio Purchases
- • Figure 7: Garden, Outdoor, Patio Luxury Purchases: Key Influences
- Key Influencers for Kitchen Appliance, Bath and Building Products Purchases
- • Figure 8: Kitchen Appliances, Bath and Building Products Purchases: Key
- Influences
- Key Influencers for Kitchenware, Cookware and Cooks’ Tools Purchases
- • Figure 9: Kitcheware, Cookware, Cooks' Tools: Key Influences
- Key Influencers for Linens & Bedding Purchases
- • Figure 10: Luxury Linens & Bedding: Key Influences
- Key Influencers for Tabletop Purchases
- • Figure 11: Tabletop Purchases: Key Influences
- Influencers of Most Importance When Shopping for Personal Luxuries
- • Figure 12: Influencers Rated Very Important in Most Recent Personal Luxury Purchases
- Key Findinds for Personal Luxury Marketers
- Key Influencers for Automobiles
- • Figure 13: Automobile Purchases: Key Influences
- Key Influencers for Clothing & Apparel Purchases
- • Figure 14: Clothing & Apparel Purchases: Key Influences
- Key Influencers for Fashion Accessories Purchases
- • Figure 15: Fashion Accessories Purchases: Key Influences
- Key Influencers for Cosmetics, Beauty Products, Fragrances
- • Figure 16: Cosmetic, Beauty Product Purchases: Key Influences
- Key Influencers for Pet Product Purchases
- • Figure 17: Pet Product Purchases: Key Influences
- Key Influencers for Wine & Spirits
- • Figure 18: Wine & Spirit Purchases: Key Influences
- Key Influencers for Jewelry Purchases
- • Figure 19: Jewelry Purchases: Key Influences
- Key Influencers for Watch Purchases
- • Figure 20: Watch Purchases: Key Influences
- Influencers of Most Importance When Buying Experiential Luxuries
- • Figure 21: Influencers Rated Very Important in Most Recent Experiential
- Luxury Purchases
- Key Influencers for Dining Purchases
- • Figure 22: Dining Purchases: Key Influences
- Key Influencers for Entertainment Purchases
- • Figure 23: Entertainment: Key Influences
- Key Influencers for Home Services Purchases
- • Figure 24: Spa, Beauty Services Purchases: Key Influences
- Key Influencers for Spa & Beauty Treatments Purchases
- • Figure 25: Spa and Beauty Services Purchases: Key Influences
- Key Influencers for Travel Purchases
- • Figure 26: Travel Purchases: Key Influences
- Chapter 2 — Luxury Tracking Study Topline Findings
- Luxury Consumption Index Drops 14 Points Due to Continued Worry about World Turmoil and Growing Doubts About the Financial Direction of the Country
- • Figure 27: Luxury Consumption Index thru 2Q2006
- Declining luxury consumer confidence led to slow growth in luxury market
- Luxury Consumers’ Feelings of Financial Well-Being Declines in Second Quarter
- • Figure 28: Financial Well Being
- Decline in Spending on Luxuries Reported
- • Figure 29: Luxury Spending Trends Past Twelve Months
- Luxury Consumers Likely to Be More Cautious About Their Luxury Spending in Coming 12 Months
- • Figure 30: Expected Spending on Luxury Next 12 Months
- Just Under Half of Luxury Consumers Believe the Country as Whole Is Worse Off Now than Three Months Ago
- • Figure 31: Overall Financial Health of Country
- Luxury Consumers Confident of Their Personal Ability to Handle Economic Turmoil
- • Figure 32: Financial Prosepcts Next Twelve Months
- Total Luxury Purchase Incidence
- • Figure 33: Overall Luuxry Purchase Incidence (All Affluent Consumers)
- Luxury Purchase Incidence for 2Q2006
- • Figure 34: Luxury Purchase Incidence
- Luxury Consumer Purchase Incidence by Income Segments
- • Figure 35: Luxury Consumer Purchase Incidence by Income Segment
- Luxury Consumers’ Average Spending Drops Compared to First Quarter 2006
- • Figure 36: Average Spending on Luxury
- Super-Affluents Outspent Everybody Else Many Times Over
- • Figure 37: Luxury Spending by Income Segment
- In 2Q2006, GenXers Out Spent the Baby Boomers
- • Figure 38: Luxury Spending by Generation - GenXers and Boomers
- Men Spent Nearly One-Third More than Women in the Second Quarter
- • Figure 39: Luxury Spending by Gender
- Luxury Goods Market Declined in 2Q2006, while Luxury Experience Market Grew Nearly 11 percent
- • Figure 40: Luxury Market Potential
- Luxury Consumers Spend the Most on Luxuries That Give The Greatest Pleasure and Satisfaction — That’s Experience
- Luxury Shoppers Turn More toward In-Store Shopping Experiences in the Second Quarter
- • Figure 41: Where People Shopped for Home and Personal Luxuries
- Mass & Discount Stores Added to Luxury Tracking — Target Is Luxury Shoppers’ Favorite
- • Figure 42: Luxury Department Store Brand Awareness and Usage for Home and Personal Luxuries
- Luxury Consumers’ Favorite Magazines
- • Figure 43: Luxury Consumers' Favorite Magazines
- Chapter 3 — Home Luxuries
- Second Quarter Home Luxury Purchase Incidence Down Slightly Over Previous Quarter
- • Figure 44: Home Luxury Purchase Incidence
- Fewer Expect to Make Home Luxury Purchases in 3Q2006
- • Figure 45: Home Luxury Purchases, Actual 2Q2006 and Planned 3Q2006
- Luxury Shoppers Spent Nearly 7 Percent Less on Home Luxuries in 2Q2006 Compared to 1Q2006
- • Figure 46: Home Luxury Spending
- Luxury Home Consumers Move to More In-Store Shopping Experiences
- • Figure 47: Where Luxury Consumers Shopped for Home Luxuries
- Art & Antiques — Purchase Details
- Type of Art and Antiques Bought
- • Figure 48: Type of Art Bought
- Amount Spent on Art & Antiques
- Where People Shopped for Luxury Art & Antiques
- • Figure 49: Art & Antiques Shopping Choices
- Art & Antiques Brand Awareness & Brand Usage
- • Figure 50: Art, Sculpture & Art Retail Brand Awareness & Usage
- Art & Antique Influencers on Most Recent Purchase
- • Figure 51: Art & Antique Influencers on Purchase
- Electronics & Photography Equipment — Purchase Details
- Type of Electronics Bought
- • Figure 52: Type of Electronics Bought
- Amount Spent on Luxury Electronics & Photography Equipment
- Where People Shopped for Luxury Electronics & Photography Equipment
- • Figure 53: Electronics & Photography Shopping Choices
- Electronics & Photography Equipment Brand Awareness & Brand Usage
- • Figure 54: Electronics & Photography Brand Awareness & Brand Purchase
- Electronics & Photography Equipment Influencers on Most Recent Purchase
- • Figure 55: Electronic & Photography Equipment Influencers on Purchase
- Home Decorating Fabrics, Window & Wall Coverings — Purchase Details
- Type of Home Decorating Fabrics, Window & Wall Coverings Bought
- • Figure 56: Type of Home Decor Fabrics, Window & Wall Coverings Bought
- Amount Spent on Home Decorating Fabrics, Window & Wall Coverings
- Where People Shopped for Luxury Home Decorating Fabrics, Window and Wall Coverings
- • Figure 57: Home Decorating Fabrics, Windows & Wall Coverings Shopping
- Choices
- Home Decorating Fabric, Window & Wall Covering Influencers on Most Recent Purchase
- • Figure 58: Home Decorating Fabric, Wall & Window Covering Influencers on Most Recent Purchase
- Furniture, Lamps & Floor Coverings — Purchase Details
- Type of Furniture, Lamps & Floor Coverings Bought
- • Figure 59: Type of Furniture, Lamps, Floor Coverings Bought
- Amount Spent on Furniture, Lamps and Floor Coverings
- Where People Shopped for Luxury Furniture, Lamps and Floor Coverings
- • Figure 60: Furniture, Lamps, Floor Coverings Shopping Choices
- Furniture, Lamps, Rugs & Floor Covering Influencers on Most Recent Purchase
- • Figure 61: Furniture, Lamps, Rugs & Floor Covering Influencers on Most Recent Purchase
- Garden, Outdoor, Lawn & Patio Products — Purchase Details
- Type of Garden/Outdoor Bought
- • Figure 62: Type of Garden/Outdoor Living Luxuries Bought
- Amount Spent on Garden
- Where People Shopped for Luxury Garden, Outdoor, Lawn, & Patio Products
- • Figure 39: Garden, Outdoor, Patio, Lawn Shopping Choices
- Garden and Outdoor Luxury Influencers on Most Recent Purchase
- • Figure 63: Garden & Outdoor Luxury Influencers on Most Recent Purchase
- Kitchenware, Cookware & Housewares — Purchase Detail
- Type of Kitchenware, Cookware & Housewares Bought
- • Figure 64: Type of Kitchenware, Cookware, Housewares Bought
- Amount Spent on Kitchenware, Cookware & Housewares
- Where People Shopped for Luxury Kitchenware, Cookware, Housewares
- • Figure 65: Kitchenware, Cookware, Housewares Shopping Choices
- Kitchenware, Cookware, Cooks’ Tools Influencers on Most Recent Purchase
- • Figure 66: Kitchenware, Cookware, Cooks' Tools Influencers on Most Recent Purchase
- Kitchen Appliances, Bath & Building Products — Purchase Details
- Type of Kitchen Appliances, Bath & Building Products Bought
- • Figure 67: Type of Kitchen Appliances, Bath & Building Products Bought
- Amount Spent on Kitchen Appliances
- Where People Shopped for Luxury Kitchen Appliances, Bath and Building Products
- • Figure 68: Kitchen Appliances, Bath & Building Products Shopping Choices
- Kitchen Appliances, Bath & Building Products Influencers on Most Recent Purchase
- • Figure 69: Kitchen Appliance, Bath & Building Products Influencers on Most Recent Purchase
- Linens & Bedding Products — Purchase Details
- Type of Linens and Bedding Bought
- • Figure 70: Types of Linens & Bedding Bought
- Amount Spent on Linens and Bedding
- Where People Shopped for Luxury Linens & Bedding Products
- • Figure 71: Linens & Bedding Shopping Choices
- Mattress Brand Awareness and Usage
- • Figure 72: Mattress Brand Awareness & Usage
- Linens & Bedding Influencers on Most Recent Purchase
- • Figure 73: Linens & Bedding Influencers on Most Recent Purchase
- Tabletop, Dinnerware, Flatware, Servingware — Purchase Details
- Type of Tabletop Purchased
- • Figure 74: Type of Tabletop Purchased
- Details: Crystal & Glassware
- • Figure 75: Type of Crystal and Glassware Purchased
- Details: Dinnerware
- • Figure 76: Type of Dinnerware Purchased
- Details: Silverware
- • Figure 49: Type of Silverware Purchased
- Amount Spent on Tabletop
- Where People Shopped for Luxury Tabletop Products
- • Figure 77: Tabletop Shopping Choices
- Tabletop Brand Awareness & Brand Usage
- • Figure 78: Tabletop Brand Awareness & Usage
- Tabletop Influencers on Most Recent Purchase
- • Figure 79: Tabletop Influencers on Most Recent Purchase
- Chapter 4 — Personal Luxuries
- Personal Luxury Purchases Made by Three-Fourths of Luxury Consumers
- • Figure 80: Personal Luxury Purchase Incidence
- Planned Purchases of Personal Luxuries Likely to Drop in 2Q2006
- • Figure 81: Personal Luxury Purchase Incidence, Planned Next Quarter
- 2Q2006 Personal Luxuries Spending Down 6 Percent from 1Q2006
- • Figure 82: Personal Luxury Spending,
- Department Stores an Important Shopping Choice for Personal Luxury Consumers
- • Figure 83: Where Luxury Consumers Shop for Personal Luxuries
- Automobiles & Recreational Vehicles . Purchase Details
- Amount Spent on Automobiles & Recreational Vehicles
- Luxury Automobile Brand Awareness and Usage
- • Figure 84: Luxury Automobile Brand Awareness and Usage
- Automobile Influencers on Most Recent Purchase
- • Figure 85: Automobile Influencers on Most Recent Purchase
- Clothing & Apparel . Purchase Details
- Type of Clothing & Apparel Bought
- • Figure 86: Type of Clothing & Apparel Bought
- Amount Spent on Clothing & Apparel
- Where People Shopped for Luxury Clothing & Apparel
- • Figure 87: Clothing & Apparel Shopping Choices
- Clothing & Apparel Brand Awareness & Usage
- • Figure 88: Clothing & Apparel Brand Awareness & Usage
- Clothing and Apparel Influencers on Most Recent Purchase
- • Figure 89: Clothing & Apparel Influencers on Most Recent Purchase
- Fashion Accessories . Purchase Details
- Type of Fashion Accessories Bought
- • Figure 90: Type of Fashion Accessories Bought
- Amount Spent on Fashion Accessories
- Where People Shopped for Luxury Fashion Accessories
- • Figure 59: Fashion Accessories Shopping Choices
- Luxury Fashion Accessories, Brand Awareness and Usage
- • Figure 91: Luxury Fashion Accessories, Brand Awareness and Usage
- Fashion Accessories Influencers on Recent Purchase
- • Figure 92: Fashion Accessories Influencers on Most Recent Purchase
- Fragrance, Cosmetics, and/or Beauty Products . Purchase Details
- Type of Cosmetics Bought
- • Figure 93: Type of Cosmetics & Beauty Products Bought
- Amount Spent on Fragrance, Cosmetics and/or Beauty Products
- Where People Shopped for Luxury Fragrance, Cosmetics and/or Beauty Products
- • Figure 94: Fragrance, Cosmetics, Beauty Products Shopping Choices
- Fragrance, Cosmetics, Beauty Products Influencers on Most Recent Purchase
- • Figure 95: Cosmetics, Beauty Products, Fragrances Influencers on Most Recent Purchase
- Pet Products — Purchase Details
- Amount Spent on Pet Products
- Where People Bought Pet Products
- • Figure 96: Where People Bought Pet Products
- Pet Products Influencers on Most Recent Products
- • Figure 97: Pet Products Influencers on Most Recent Purchase
- Wine & Spirits — Purchase Details
- Type of Wine & Spirits Bought
- • Figure 98: Type of Wine & Spirits Bought
- Amount Spent on Wine & Spirits
- Wine & Spirits Influencers on Most Recent Purchase
- • Figure 99: Wine & Spirits Influencers on Most Recent Purchase
- Pens, Writing Instruments, and Desk Accessories — Purchase Details
- Amount Spent on Pens, Writing Instruments, and Desk Accessories
- Where People Bought Pens, Writing Instruments, and Desk Accessories
- • Figure 100: Where People Bought Writing Instruments
- Pens & Writing Instruments Influencers on Most Recent Purchases
- • Figure 101: Pens & Writing Instruments Influencers on Most Recent
- Purchases
- Jewelry . Purchase Details
- Type of Jewelry Bought
- • Figure 102: Type of Jewelry Bought
- Type of Women’s Jewelry Bought
- • Figure 103: Type of Women’s Jewelry Bought
- Type of Men’s Jewelry Bought
- • Figure 104: Type of Men's Jewelry Bought
- Material of Composition
- • Figure 105: Material of Composition Women’s Jewelry
- • Figure 106: Men's Jewelry: Material of Composition
- Amount Spent on Jewelry
- Where People Shopped for Jewelry
- • Figure 107: Jewelry Shopping Choices
- Jewelry Brand Awareness and Usage
- • Figure 69: Jewelry Brand Awareness & Usage
- Jewelry Influencers on Most Recent Purchase
- • Figure 108: Jewelry Influencers on Most Recent Purchase
- Watches . Purchase Details
- Type of Watches Bought
- • Figure 109: Type of Watches Bought
- Amount Spent on Watches
- Where People Shopped for Luxury Watches
- • Figure 110: Watches Shopping Choices
- Watches Brand Awareness and Usage
- • Figure 111: Watch Brand Awareness & Usage
- Watch Influencers on Most Recent Purchase
- • Figure 112: Watch Influencers on Most Recent Purchase
- Chapter 5 — Experiential Luxuries
- Luxury Consumers Experiential Luxuries Purchases Stable in 1Q2006
- • Figure 113: Experiential Purchase Incidence
- Luxury Consumers Expect to Purchase Experiential Luxuries at Stable Levels in 3Q2006
- • Figure 114: Experiential Luxuires Next Quarter Planned Purchases
- Average Spending on Experiential Luxuries in 2Q2006 Even with 1Q2006
- • Figure 115: Experiential Luxury Spending
- Luxury Dining — Purchase Details
- Amount Spent on Luxury Dining
- Dining Influencers on Most Recent Purchase
- • Figure 116: Dining Influencers on Most Recent Purchase
- Luxury Entertainment — Purchase Details
- Amount Spent on Luxury Entertainment
- Entertainment Influencers on Most Recent Purchase
- • Figure 117: Entertainment Influencers on Most Recent Purchase
- Luxury Home Services — Purchase Details
- Amount Spent on Luxury Home Services
- Home Services Influences on Most Recent Purchase
- • Figure 118: Home Services Influencers on Most Recent Purchase
- Luxury Spa, Massage and Beauty Treatment — Purchase Details
- Amount Spent on Luxury Spa, Massage and Beauty Treatment
- Spa & Beauty Treatments Influencers on Most Recent Purchase
- • Figure 119: Spa & Beauty Treatment Influencers on Most Recent Purchase Luxury Travel — Purchase Details
- Amount Spent on Luxury Travel
- Foreign Travel Choices
- • Figure 75: Type of Foreign Travel Bought
- Domestic Travel Choices
- • Figure 120: Type of Domestic Travel Bought
- Travel Influencers on Most Recent Purchase
- • Figure 121: Travel Influencers on Most Recent Purchase
- Appendix A
- Quarterly Tracking of Luxury Consumer Purchasing
- Information about Motivators for Luxury Purchases Was Researched in More Depth
- Sample Demographics
- Income Demographics
- • Figure 122: Income Demographics
- Gender
- Age Distribution
- • Figure 123: Age Distribution
- Other Demographic Variables
- 2Q2006 Luxury Tracking Survey
AbstractLuxury consumers' confidence plummeted during the second quarter 2006, dropping 14 points down to 99.2 from a high of 113.2 at the close of the first quarter. This follows two consecutive quarters of rising luxury consumer confidence. The index measures luxury consumer feelings and is based upon a survey of over 1,000 luxury consumers (average income $147.9k) conducted in July 2006.
"All values used to calculate the Luxury Consumption Index dropped sharply in Unity's most recent Luxury Tracking survey," explains Pam Danziger, president of Unity Marketing and author of the soon to be published Shopping: Why We Love It and How Retailers Can Create the Ultimate Shopping Experience. "How they feel about their personal financial health dropped. How they feel about their prospects over the next 12 months dropped. Their expectations about future spending on luxury dropped. But most significantly, luxury consumers' feelings about the financial health of the country declined the most. At the close of the second quarter, nearly half (47 percent) of luxury consumers believed the country was worse off compared to three months ago. Only 16 percent felt it had improved."
Commenting on the decline in the consumption index, Thomas Bodenberg, Unity Marketing's economic forecaster said, "A number of factors contributed to luxury consumer worries. On the home front, gasoline prices have remained high which threatens more price inflation. They also faced a decline in the housing market, electoral uncertainty as the election season starts to heat up and a reduction in the rate of economic growth. Luxury consumers are also worried about the long term impact of continued unrest in the Middle East, Iraq, and Afghanistan."
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