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Luxury Customers and the Loyalty Factor

Published by: Unity Marketing Inc.

Published: May. 5, 2007 - 62 Pages


Table of Contents


Chapter 1 — Introduction

Luxury Consumers’ Membership in Loyalty Programs

Figure 1: Membership in Loyalty Programs, by age and by income

Membership and It’s Impact on Brand Choices

Figure 2: How Strongly Loyalty Programs Influence Brand Choices

Membership and Its Impact on Luxury Spending

Figure 3: Average Amount Spent by Luxury Consumers 1Q2007 based upon Membership

Want to Target Young Affluents? Create a Loyalty Program for Them

Figure 4: Average Amount Spent by Luxury Consumers 1Q2007 based upon age and membership

Case Studies of Effective Loyalty Programs

Characteristics of Effective Loyalty Programs

Chapter 2 — Luxury Tracking Study Topline Findings

Luxury consumption index up 2 points, but spending is not yet as strong as one year ago

Figure 5: Luxury Consumption Index thru 1Q2007

Luxury Consumers’ Feelings of Financial Well-Being Rose Slightly

Figure 6: Financial Well Being

More Luxury Consumers Report Decline in their Luxury Spending

Figure 7: Luxury Spending Trends Past Twelve Months

Luxury Consumers Cautious About Spending in Next Twelve Months

Figure 8: Expected Spending on Luxury Next 12 Months

Luxury Consumers’ Confidence in Financial Health of the Country Tanks

Figure 9: Overall Financial Health of Country

Luxury Consumers Feel Quite Confident of Their Financial Prospects for the Rest of the Year

Figure 10: Financial Prospects Next Twelve Months

Cautious Optimism Advised for Luxury Marketers

Total Luxury Purchase Incidence

Figure 11: Overall Luuxry Purchase Incidence (All Affluent Consumers)

Luxury Purchase Incidence for 1Q2007

Figure 12: Luxury Purchase Incidence

Luxury Consumer Purchase Incidence by Income Segments

Figure 13: Luxury Consumer Purchase Incidence by Income Segment

Luxury Consumers’ Average Spending Drops in First Quarter Relative to Same Quarter Last Year


Figure 14: Average Spending on Luxury

Super-Affluents Spent Three-Times More than the ‘Trading Up’ Consumers on Luxury and Two-

Times More than Affluents

Figure 15: Luxury Spending by Income Segment

In 1Q2007, Young Affluents Out Spent the Over 40 Year Old Segment

Figure 16: Luxury Spending by Age Segment - Young Affluents and Over 40 Year Olds

As Typical, Men Outspent Women Buying Luxury in the First Quarter

Figure 17: Luxury Spending by Gender

Total Luxury Market Declined Slightly in 1Q2007 compared with Same Period Last Year

Figure 18: Luxury Market Potential

Non-Store Retailers Continue Their Vital Role in Luxury Shopping

Figure 19: Where People Shopped for Home and Personal Luxuries

Nordstrom in the Lead as Luxury Shoppers’ Favorite Luxury Department Store and Target Is

Tops for Mass and Discount Stores

Figure 20: Store Brand Usage for Any Luxury Shopping

Luxury Consumers’ Favorite Magazines

Figure 21: Luxury Consumers Favorite Magazines

Appendix A

Quarterly Tracking of Luxury Consumer Purchasing

Information about Loyalty Programs Was Researched in More Depth

Sample Demographics

Income Demographics

Figure 77: Income Demographics

Gender

Age Distribution

Figure 78: Age Distribution

Other Demographic Variables

1Q2007 Luxury Tracking Survey

Abstract

These days, nearly everyone, and especially people with an eye toward value and making their dollars stretch, is a member of a loyalty program. These special programs that encourage customers to make repeat purchases can trace their history back to the trading stamps given to customers in the 1800s who paid with cash instead of credit. These trading stamp programs reached their zenith with the introduction in the 1930s of the S&H Green Stamps program, in which consumers collected stamps to redeem for products. Nearly 50 years later, the first airline frequent flier programs made their debut. Today, it seems that almost everyone has a wallet full of loyalty program cards, and a keyring full of fobs helping them gain points, miles, discounts, or other privileges with each purchase.

According to Jupiter research, more than three out of four consumers are members of at least one loyalty program, and about a third of all shoppers are members of two or more. With the proliferation of loyalty programs, Unity Marketing undertook a special investigation in 1Q2007 to learn more about which types of loyalty programs entice luxury shoppers to spend more and become more loyal to the brands and merchants that offer them.

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