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Published by: Unity Marketing Inc.
Published: May. 1, 2008 - 229 Pages
Table of Contents
- Chapter 1 — About the Luxury Market
- Figure 1: Leading Luxury Marketers Revenues, 2004-2007
- Some 35 million Households Rank among the Nation's Top 25 percent
- Figure 2: Number of Households by Income, 2004 -2006
- Fastest Growing Affluent Households
- Figure 3: Total number of affluent households
- Demographics of the Top 25 Percent of Americans
- Figure 4: Household income by age, 2006
- Affluents Make More, Spend More and Save More
- Figure 5: Annual expenditures, 2006: Average U.S. households compared with affluent
- Trends in Affluence
- Increasing Diversity in the Luxury Market
- Figure 6: Diversity of Luxury Market
- Lifestage Changes Impacts the Luxury Market
- Figure 7: Triggers for luxury purchases, 2006 & proj. 2007 (Source: Luxury Tracking, 4Q06)
- Luxury Consumers’ Plans for Home Changes
- Figure 8: Home Changes 2005 (2Q2005 Luxury Tracking), 2006 and proj. 2007
- Luxury Consumers Rose from Middle-class Backgrounds
- Figure 9: Financial status of family of origin (Luxury Tracking, 2Q04)
- New Luxury Market Paradigm — From Things to Experiences
- Experiences Provide the Greatest Luxury Satisfaction
- Figure 10: Source of Greatest Luxury Satisfactions (1Q2006 Luxury Tracking)
- Figure 11: Sources of Greatest Luxury Satisfaction by income
- Chapter 2 — Luxury Market Top line Findings
- Luxury consumer spending declines sharply in second half of 2007
- Figure 12: Luxury Consumption Index thru 4Q2007
- Luxury marketers are feeling the pain too, as luxury consumers hold back on spending
- Five measures of luxury consumer confidence dropped sharply
- Luxury Consumers’ Feelings of Financial Well-Being
- Figure 13: Financial Well Being
- Luxury Consumers and Reported Spending Trends
- Figure 14: Luxury Spending Trends Past Twelve Months
- Luxury Consumers and Their Spending Expectations
- Figure 15: Expected Spending on Luxury Next 12 Months
- Luxury Consumers’ Confidence in Financial Health of the Country
- Figure 16: Overall Financial Health of Country
- Luxury Consumers Confident of Their Personal Ability to Handle Economic Turmoil
- Figure 17: Financial Prospects Next Twelve Months
- Predictions for the Luxury Market through 2008
- Total Luxury Purchase Incidence
- Figure 18: Overall Luxury Purchase Incidence (All Affluent Consumers), 2005-2007
- Luxury Purchase Incidence
- Figure 19: Luxury Purchase Incidence, 2005-2007
- Luxury Consumers’ Average Spending
- Figure 20: Average Spending on Luxury, 2005-2007
- Luxury Spending by Income Segments in 2006
- Figure 21: Luxury Spending by Income Segment, 2006-2007
- Luxury Spending by Age Segment
- Figure 22: Luxury Spending by Age - 40 and Under and Over 40. 2006-2007
- Luxury Spending by Gender
- Figure 23: Luxury Spending by Gender
- Overall Luxury Spending by Segment Summary
- Figure 24: Luxury Spending by Segment Summary, 2006-2007
- Luxury Consumers Remain Value-Oriented
- Figure 25: Most Recent Luxury Purchase Bought on Sale or at a Discount (4Q2006 Luxury Tracking)
- Overview Where Luxury Consumers Shopped
- Figure 26: Where People Shopped for Home and Personal Luxuries
- Luxury Shoppers’ Favorite Luxury Department Stores and Mass/Discount Stores
- Figure 27: Store Brand Usage for Any Luxury Shopping
- Luxury Consumers’ Favorite Magazines
- Figure 28: Luxury Consumers Favorite Magazines
- Chapter 3 — Home Luxuries
- Overall Home Luxury Purchase Incidence
- Figure 29: Home Purchase Incidence, 2005-2007
- Luxury Shoppers' Spending on Home Luxuries
- Figure 30: Home Luxury Spending, 2005-2007
- Most Popular Shopping Destinations for Home Luxury Consumers in 2007
- Figure 31: Where Luxury Consumers Shopped for Home Luxuries
- Fastest Growing Categories in Home Luxuries in 2007
- Art & Antiques — Purchase Details
- Type of Art and Antiques Bought
- Figure 32: Type of Art Bought
- Amount Spent on Art & Antiques
- Where People Shopped for Luxury Art & Antiques
- Figure 33: Art & Antiques Shopping Choices
- Art & Antiques Brand Usage
- Figure 34: Art, Sculpture & Art Retail Brand Usage, 2006-2007
- Key Influencers for Art & Antiques Purchases
- Figure 35: Art & Antique Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Electronics & Photography Equipment — Purchase Details
- Type of Electronics Bought
- Figure 36: Type of Electronics Bought
- Amount Spent on Luxury Electronics & Photography Equipment
- Where People Shopped for Luxury Electronics & Photography Equipment
- Figure 37: Electronics & Photography Shopping Choices
- Electronics & Photography Equipment Brand Usage
- Figure 38: Electronics & Photography Brand Purchase
- Key Influencers for Electronics & Photography Purchases
- Figure 39: Electronic & Photography Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Home Decorating Fabrics, Window & Wall Coverings — Purchase Details
- Type of Home Decorating Fabrics, Window & Wall Coverings Bought
- Figure 40: Type of Home Decor Fabrics, Window & Wall Coverings Bought 66
- Amount Spent on Home Decorating Fabrics, Window & Wall Coverings
- Where People Shopped for Luxury Home Decorating Fabrics, Window and Wall Coverings
- Figure 41: Home Decorating Fabrics, Windows & Wall Coverings Shopping Choices
- Key Influencers for Home Decorating Fabric, Window & Wall Coverings Purchases
- Figure 42: Home Decor Fabrics, Wall & Window Covering Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Furniture, Lamps & Floor Coverings — Purchase Details
- Type of Furniture, Lamps & Floor Coverings Bought
- Figure 43: 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 44: Furniture, Lamps, Floor Coverings Shopping Choices
- Key Influencers for Furniture, Lamps, Floor Coverings & Rug Purchases
- Figure 45: Furniture, Lamps & Rug Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Garden, Outdoor, Lawn & Patio Products — Purchase Details
- Type of Garden/Outdoor Bought
- Figure 46: 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
- Kitchenware, Cookware & Housewares — Purchase Detail
- Type of Kitchenware, Cookware & Housewares Bought
- Figure 47: Type of Kitchenware, Cookware, Housewares Bought
- Amount Spent on Kitchenware, Cookware & Housewares
- Where People Shopped for Luxury Kitchenware, Cookware, Housewares
- Figure 48: Kitchenware, Cookware, Housewares Shopping Choices
- Key Influencers for Kitchenware, Cookware and Cooks’ Tools Purchases
- Figure 49: Kitchenware, Cookware, Cooks Tools Key Influencers for Purchase (2Q2006)
- Kitchen Appliances, Bath & Building Products — Purchase Details
- Type of Kitchen Appliances, Bath & Building Products Bought
- Figure 50: 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 51: Kitchen Appliances, Bath & Building Products Shopping Choices 78
- Key Influencers for Kitchen Appliance, Bath and Building Products Purchases
- Figure 52: Kitchen Appliances, Bath & Building Products Key Influencers for Purchase (2Q2006)
- Linens & Bedding Products — Purchase Details
- Type of Linens and Bedding Bought
- Figure 53: Types of Linens & Bedding Bought
- Amount Spent on Linens and Bedding
- Where People Shopped for Luxury Linens & Bedding Products
- Figure 54: Linens & Bedding Shopping Choices
- Key Influencers for Linens & Bedding Purchases
- Figure 55: Linens & Bedding Key Influencers for Purchase (2Q2006 Luxury
- Tracking)
- Tabletop, Dinnerware, Flatware, Servingware — Purchase Details
- Type of Tabletop Purchased
- Figure 56: Type of Tabletop Purchased
- Details: Crystal & Glassware
- Figure 57: Type of Crystal and Glassware Purchased
- Details: Dinnerware
- Figure 58: Type of Dinnerware Purchased
- Type of Dinnerware by Material
- Figure 59: Type of Dinnerware by Style
- Details: Silverware
- Figure 60: Type of Silverware Purchased
- Amount Spent on Tabletop
- Where People Shopped for Luxury Tabletop Products
- Figure 61: Tabletop Shopping Choices
- Tabletop Brand Usage
- Figure 62: Tabletop Brand Awareness & Usage
- Key Influencers for Tabletop Purchases
- Figure 63: Tabletop Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Chapter 4 — Personal Luxuries
- Personal Luxury Purchase Incidence
- Figure 64: Personal Luxury Purchase Incidence, 2005-2007
- Personal Luxuries Spending Overview
- Figure 65: Personal Luxury Spending, 2005-2007
- Department Stores Are an Important Shopping Choice for Personal Luxury Consumers
- Figure 66: Where Luxury Consumers Shop for Personal Luxuries
- Fastest Growing Categories in Personal Luxuries in 2007
- Automobiles & Recreational Vehicles . Purchase Details
- Amount Spent on Automobiles & Recreational Vehicles
- Luxury Automobile Brand Usage
- Figure 67: Luxury Automobile Brand Usage
- Key Influencers for Automobiles
- Figure 68: Automobile Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Clothing & Apparel . Purchase Details
- Type of Clothing & Apparel Bought
- Figure 69: Type of Clothing & Apparel Bought
- Amount Spent on Clothing & Apparel
- Where People Shopped for Luxury Clothing & Apparel
- Figure 70: Clothing & Apparel Shopping Choices
- Clothing & Apparel Brand Usage
- Figure 71: Clothing & Apparel Brand Usage
- Key Influencers for Clothing & Apparel Purchases
- Figure 72: Clothing & Apparel Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Fashion Accessories . Purchase Details
- Type of Fashion Accessories Bought
- Figure 73: 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 Usage
- Figure 74: Fashion Accessories Brand Usage
- Key Influencers for Fashion Accessories Purchases
- Figure 75: Fashion Accessories Key Influences for Purchase (2Q2006 Luxury Tracking)
- Fragrance, Cosmetics, and/or Beauty Products . Purchase Details
- Type of Cosmetics Bought
- Figure 76: 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 77: Fragrance, Cosmetics, Beauty Products Shopping Choices
- Key Influencers for Cosmetics, Beauty Products, Fragrances
- Figure 78: Cosmetics, Beauty Products, Perfume Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Wine & Spirits — Purchase Details
- Type of Wine & Spirits Bought
- Figure 79: Type of Wine & Spirits Bought
- Amount Spent on Wine & Spirits
- Key Influencers for Wine & Spirits
- Figure 80: Wine & Spirits Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Jewelry . Purchase Details
- Type of Jewelry Bought
- Figure 81: Type of Jewelry Bought
- Type of Women’s Jewelry Bought
- Figure 82: Type of Women’s Jewelry Bought
- Type of Men’s Jewelry Bought
- Figure 83: Type of Men's Jewelry Bought
- Material of Composition
- Figure 84: Material of Composition Women’s Jewelry
- Figure 85: Men's Jewelry: Material of Composition
- Amount Spent on Jewelry
- Where People Shopped for Jewelry
- Figure 86: Jewelry Shopping Choices
- Jewelry Brand Usage
- Figure 87: Jewelry Brand Usage
- Key Influencers for Jewelry Purchases
- Figure 88: Jewelry Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Watches . Purchase Details
- Type of Watches Bought
- Figure 89: Type of Watches Bought
- Material of Composition Formal/Dress Watches
- Figure 90: Material of Composition Formal/Dress Watches
- Amount Spent on Watches
- Where People Shopped for Luxury Watches
- Figure 91: Watches Shopping Choices
- Watches Brand Usage
- Figure 92: Watch Brand Usage
- Key Influencers for Watch Purchases
- Figure 93: Watches Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Chapter 5 — Experiential Luxuries
- Purchase Incidence of Experiential Luxuries
- Figure 94: Experiential Purchase Incidence, 2005-2007
- Spending on Experiential Luxuries
- Figure 95: Experiential Luxury Spending, 2005-2007
- Luxury Dining — Purchase Details
- Amount Spent on Luxury Dining
- Key Influencers for Dining Purchases
- Figure 96: Fine Dining Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Luxury Entertainment — Purchase Details
- Amount Spent on Luxury Entertainment
- Key Influencers for Entertainment Purchases
- Figure 97: Entertainment Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Luxury Home Services — Purchase Details
- Type of Home Services
- Figure 98: Type of Home Services Bought
- Amount Spent on Luxury Home Services
- Key Influencers for Home Services Purchases
- Figure 99: Home Services Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Luxury Spa, Massage and Beauty Treatment — Purchase Details
- Amount Spent on Luxury Spa, Massage and Beauty Treatment
- Key Influencers for Spa & Beauty Treatments Purchases
- Figure 100: Spa and Beauty Services Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Luxury Travel — Purchase Details
- Amount Spent on Luxury Travel
- Foreign Travel Choices
- Figure 101: Type of Foreign Travel Bought
- Domestic Travel Choices
- Figure 102: Type of Domestic Travel Bought
- Key Influencers for Travel Purchases
- Figure 103: Travel Key Influencers for Purchase (2Q2006 Luxury Tracking)
- Chapter 6 — About Luxury Consumers' Attitudes toward Luxury
- The Extent of Luxury - How Invested Are Luxury Consumers in their Luxury Lifestyles?
- Figure 104: The Extent of Luxury in Luxury Consumers' Lives -- the Good,
- Better, Best and the 'I just don't care all that much'
- Their approach to a luxury lifestyle is tied to how much they spend on luxuries
- Figure 105: Spending on Luxury 2Q2007 based upon good, better, best attitudes
- Changing Personalities in the 'New Luxury' Market
- Luxury consumers remain highly experiential and there are signs they are becoming even more experiential
- Figure 106: Attitudes about Luxury, 2007 & 2003 surveys
- A New Luxury Consumer Personality Emerges — Temperate Pragmatist
- Figure 107: Personalities of Luxury, 2007 & 2003
- Figure 108: Attitudes about Luxury by Personality Segment, 2007
- Introducing the Five Luxury Consumer Personalities
- Luxury Personalities and Their Spending on Luxuries
- Figure 109: Average Spending on Luxury by Personality Types
- Personalities' feelings about their current financial status and future status
- Demographics that define the personalities
- Figure 110: Average Income by Personality
- Field Guide to the Five Luxury Personalities
- Figure 111: Field Guide to the Luxury Personalities
- Chapter 7 — About the Luxury Consumers' Home
- Introduction
- Typical Luxury Consumers’ Home Is Not All that Luxurious — Lots of Room for Major Home
- Improvements
- Figure 112: Size of Luxury Consumers' Homes, by income segment
- Figure 113: Luxury Consumers' Lot Size
- Luxury Consumer Homes' Indoor Appointments
- Figure 114: Luxury Consumers Homes Indoor Appointments, including superaffluents
- Luxury Consumers Homes' Outdoor Appointments
- Figure 115: Luxury Home Appointments — Outdoors
- Luxuries They Have and Own
- Luxury Toys
- Figure 116: Luxury "Toys"
- Typical Luxury Consumer Owns about Two Sets of Fine Dinnerware
- Figure 117: Fine Dinnerware Owned
- Most Own at Least One Luxury Watch
- Figure 118: Luxury Watch Ownership
- Typical Luxury Consumer Owns One Luxury Automobile
- Figure 119: Number of Luxury Automobiles Owned
- Chapter 8 — Luxury Consumers & the Internet
- Introduction
- Figure 120: Electronic Shopping and Mail-Order Retail Sales, YTD 2006- 2007 and 2005-2006
- Internet Is Growing in Importance in the Lives of Luxury Consumers
- Social networking is not just for kids anymore -- Even luxury consumers do it
- Figure 121: Visited Social Networking or Social Shopping Sites Past Three
- Months (July-September 2007), by Age
- Luxury consumers used multi-media strategy combining magazines and Internet to research purchases
- Figure 122: Use of Magazines To Learn About Internet
- Magazines play important role in making luxury consumers aware of new Internet sites
- Figure 123: Role of Magazines in Making Consumers Aware of New Websites
- Luxury Consumers Were Most Drawn to the Internet to Visit a Trusted Online Retailer or as the
- Result of an Internet Search
- Figure 124: Factors that Drew Luxury Consumers to Particular Website in
- Past Three Months (July-September 2007)
- About Half of Home & Personal Luxury Shoppers Used the Internet to Support Their Purchases - Almost All Luxury Travelers Used the Internet
- Figure 125: Use of the Internet to Support Purchases, by Product and Service
- People who used the Internet to support their purchases tended to spend more overall
- Figure 126: Average Amount Spent by Luxury Consumers by Product
- Category and Use of Internet
- Comparing prices was most widely used application for the Internet
- Figure 127: Uses of Internet in Support of Luxury Goods Purchases
- Role of the Internet in Influencing Last Purchase
- Figure 128: Internet Rated Very Important in Influencing Last Purchase
- Luxury travelers make the absolute most of the Internet
- Figure 129: Use of the Internet by Luxury Travel Purchasers
- Trends in Spending and Time on the Internet, 2005 to 2007
- Figure 130: Average Time Spent Online for Internet Shopping and Research
- Purchases, 3Q2007 & 3Q2005
- Figure 131: Average Amount Spent on Internet Making Purchases, 3Q2007 & 3Q2005
- Having Access to Wide Selection of Merchandise, Convenience of Shopping at Home and Ability to Compare Products and Prices Are Keys to Attracting Luxury Consumers to Internet Shopping
- Figure 132: Features Luxury Shoppers Consider Very Important for Using the
- Internet for Shopping, 3Q2007 & 3Q2005
- Shipping and Handling Charges Discourage Luxury Internet Shoppers
- Features that Are Very Important for a Luxury Website
- Figure 134: Features Very Important for a Luxury Website
- Luxury Consumers' Favorite Internet Websites
- Figure 135: Top Ten Luxury Consumers' Websites
- Chapter 9 — About Luxury Travel
- Nearly Four Trips Planned For April to December 2006
- Figure 136: Travel Plans April-December 2006
- Luxury Resort and Foreign Travel Top List for Personal Vacation Plans
- Figure 137: Type of Personal Trips Planned
- Travel Spending Trends, 2005 to 2006
- Figure 138: Trends in Luxury Travel, 2005 to 2006
- Relaxation and Stress Relief Is Primary Experience Desired by Luxury Travelers
- Figure 139: Travel Experiences Rated Very Important by Luxury Travelers
- Having Special Experiences that Make Memories Is Top Factor when Planning Travel
- Figure 140: Factors Rated Very Important When Planning Luxury Travel
- Chapter 10 — About Happiness and Motivators for Luxury Purchases
- Luxury Consumers Just Want to Have Fun
- Figure 141: Motivators Rated Very Important When Purchasing Luxury
- 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
- Income and Assets Measure One's Success in Business and Career --
- Happiness Measures One's Success in Life
- Understanding affluent consumer psychology is critical to success in luxury brand marketing
- Figure 142: Satisfaction with Life Scale by Ed Diener (4Q2007)
- Money does buy happiness -- but an increase of 2.5 times more money only gets you 10 percent more happiness
- The new luxury consumer is adopting a 'less is more' lifestyle
- Chapter 11 — Status & the Luxury Consumers
- Attitudes about Status
- Figure 146: Attitudes about Status
- Personalities of Status
- Figure 147: Personalities of Status
- Figure 148: Status Personalities Attitudes
- Consensus Connie Goes Along with the Status Quo
- Sarah the Status Seeker Places a Priority on Prestige
- Quality Magnet Martha Is Driven to Buy the Best
- Anti-Status Andy Rejects the Trappings of Status
- Lifecycle of Luxury Brands’ Status Tied to Consumers’ Age
- Figure 149: Status Attitudes Most Closely Associated with Younger Consumers
- Figure 150: Anti-Status Attitudes Most Closely Associated with Older Luxury Consumers
- Maintaining Luxury Consumers’ Desire for Status Through the Acquisition of Luxury Is Good for Luxury Marketers
- Counter Trend toward Anti-Status Is Taking Hold
- Chapter 12 — Luxury Consumers and the Loyalty Factor
- Luxury Consumers’ Membership in Loyalty Programs
- Figure 151: Membership in Loyalty Programs, by age and by income
- Membership and It’s Impact on Brand Choices
- Figure 152: How Strongly Loyalty Programs Influence Brand Choices
- Membership and Its Impact on Luxury Spending
- Figure 153: Average Amount Spent by Luxury Consumers 1Q2007 based upon Membership
- Want to Target Young Affluents? Create a Loyalty Program for Them
- Figure 154: Average Amount Spent by Luxury Consumers 1Q2007 based upon age and membership
- Case Studies of Effective Loyalty Programs
- Characteristics of Effective Loyalty Programs
- Chapter 13 — Luxury Consumers and the Countries that Produce the Best Luxuries
- Where Luxury Goods Are Manufactured Influences Luxury Consumers' Purchase Decision
- Figure 155: Importance of Place of Manufacture of Luxury Goods
- Countries Most Respected for Producing Better Quality Luxury Goods
- Figure 156: Countries that Produce Better Quality Luxury Goods, percentages and index
- Countries of Manufacture Where Quality Is Perceived as Lacking
- Figure 157: Countries Associated with Poorer Quality Luxury Goods, percentage and index
- Attitudes about Place of Manufacture
- Figure 158: Attitudes about Place of Manufacture Conclusions & Recommendations
- Appendix A
- Research Objectives
- Research Methodology
- Income Demographics
- Figure 159: Income Demographics
- Gender
- Age Distribution
- Figure 160: Age Distribution
- Other Demographic Variables
- Survey Questionnaires
AbstractUnity Marketing's Luxury Report 2008 is the definitive study of the U.S. market for luxury goods and experiences. The total market for luxury contributed some $321.9 billion in consumer spending in 2007. The Luxury Report examines consumers' buying behavior and spending habits related to four key categories of luxury purchases:
- Home Luxuries, such as kitchen appliances, bath fixtures, art and antiques, furniture, tabletop, decorative home furnishings, electronics and more
- Personal Luxuries, including fashion, beauty, jewelry and watches
- Automobiles
- Experiential Luxuries, such as travel, fine dining, entertainment, spa and beauty services.
The report contains details on 22 luxury product and services bought by affluent consumers, including annual spending, where these products were purchased and details of the types of products and services bought. The Luxury Report 2008 is written by Pam Danziger, one of the nation's leading expert on the luxury market and based upon the kind of in-depth consumer research for which Pam Danziger and Unity Marketing are known.
Provides market size, growth and key trends in the luxury market
This report provides vital market size, growth and demographics for any company that is in the business of luxury, including product marketers, advertisers, retailers, service providers. The Luxury Report 2008 is the ultimate guide to today's luxury market. It is an essential tool to understand the dynamics of the luxury market, today and into the future.
This important new study of the luxury market provides the results of a three-year longitudinal research study of the luxury market conducted quarterly. This report is compiles detailed statistics collected in twelve waves of Unity's quarterly Luxury Tracking surveys during 2005, 2006 and 2007. In each of the three study years over 4,000 luxury consumers were surveyed. Specifically in the 2007 survey a total of 4,284 luxury consumers were surveyed, with an average income of $155,100; average age of 45.2 years including 64 percent female and 36 percent male respondents.
More details about products and brands included in Luxury Report 2008
Details about what these luxury consumers bought, how much they spent, where they made their purchases, and in certain categories the luxury brands they patronized are reported in four major categories of luxury. Significantly more product categories and more brands were included in the current surveys, notably:
Home Luxuries
- Art and Antiques (Specific data is collected on already-framed reproductions; unframed reproductions; custom-framed art or reproductions; other custom framing; original art; sculpture, statues, 3D art; antique furniture and collectibles; wall decor)
- Electronics and Photography Equipment (Computers; iPods and other MP3 devices; cameras; cellular phones; televisions; DVD/video players; audio equipment; home entertainment systems; PDA's)
- Furniture, Lamps and Floor Coverings (Lamps and lighting; upholstered furniture; wooden furniture; rugs and floor coverings)
- Garden and Outdoor (Patio furniture; grills; lighting accents; fencing; power gardening equipment; decorative pots; garden statues; chimeneas and outdoor stoves; garden shelters; water gardens; porch and patio decorative accents)
- Home Decorating Fabrics, Wall and Window Coverings (Wall coverings, such as wall paper; ready-made curtains, drapes; window coverings, such as blinds, shades; home decorating fabrics for custom upholstery, curtains, drapes, etc.)
- Kitchen Appliances, Bathroom Equipment and Building Products (Kitchen appliances, such as stoves, ovens, refrigerators; bathroom equipment, such as tubs, showers, toilets, fixtures; kitchen equipment, such as cabinets, countertops; air conditioning/filtration systems; water systems)
- Kitchenware, Cookware, Housewares (Small appliances; cookware; bakeware; cutlery; storage and organization; barware)
- Linens and Beddings (Sheets and pillowcases; comforters, spreads; pillows and pillow accents; bath linens; mattresses and box springs; duvets and shams; feather beds and mattress covers; table linens)
- Tabletop, Dinnerware, Stemware, Flatware (Dinnerware, including fine china, ceramic or stoneware, serving ware and decorative accents; crystal and glassware decoratives, stem ware, serving pieces, barware; flatware, including sterling silver flatware, serving pieces, decorative accents and other flatware)
- Personal Luxuries
- Clothing and Apparel (Women's casual, dress/business, formal/evening, outerwear; men's casual, dress/business, formal/evening, outerwear; teen's clothing; children's clothing; baby clothing)
- Cosmetics, Fragrance and Beauty Products (Fragrances, perfumes; bath and body lotions; face care; hair care; cosmetics and makeup; sun and tanning products)
- Fashion Accessories (Women's handbags, shoes, brief cases, and fashion accessories, such as scarves, belts; men's wallets, brief cases and men's fashion accessories, including shoes, belts, etc.; luggage for men and women)
- Jewelry (Women's and men's jewelry by type, including necklaces, earrings, bracelets, rings, bridal/wedding, pins and brooches; women's and men's jewelry by material, including 14k and above gold, sterling silver, platinum, gold plate or vermeil, costume jewelry; and women's and men's jewelry by stone, including diamonds, other precious gemstones, semi-precious gemstones, pearl, faux or man-made, no gemstone content)
- Watches (Women's and men's watches by style, including formal/dress or casual/sports)
- Wine, Liquor and Spirits (Wine, champagne, vodka, whiskey, rum, scotch, cognac, bourbon, sherry/port)
- Automobiles
- Including brands Acura, Audi, BMW, Cadillac, Jaguar, Infiniti, Land Rover, Lexis, Lincoln, Mercedes, Porsche, Saab, Volvo
- Experiential Luxuries
- Dining
- Entertainment
- Home Services (House cleaning/maid; lawn care; landscaping; party planning/catering; home decorator/designer; pet care; pool maintenance)
- Spa, Massage, Beauty and Cosmetic Services
- Travel (Foreign and domestic luxury hotels, commercial air, resorts, cruises, group tours, adventure travel, private air travel)
Now you can make critical business decisions based upon facts -- not beliefs, assumptions or fantasies
This report provides the facts and figures you need to develop winning marketing and business strategies. By working with the facts, not fantasies, you have a much better chance of success marketing to the luxury consumers. This report gives you a horizontal view of the luxury market, recognizing that luxury marketers compete not just with companies within their vertical product niche, but across all luxury categories as well.
Within each category of luxury, the key drivers for purchase are studied, such as role of luxury brand in purchase decision; the influence of sales price on purchase; where the shopper bought their last luxury; why they bought luxuries; whether their luxury purchases were made a gifts; and other motivational factors.
Special feature: Find out which of the five different types of luxury consumers are your best customers
A special feature in Unity Marketing's Luxury Report 2008 is a psychographic profile of five key types of luxury consumers. These include:
X-Fluents (Extremely Affluent) who spend the most on luxury and are most highly invested in luxury living;
Butterflies, the most highly evolved luxury consumers who have emerged from their luxury cocoons with a passion to reconnect with the outside world. Powered by a search for meaning and new experiences, the butterflies have the least materialistic orientation among the segments, yet they spend nearly as much as the X-Fluents on luxury;
Luxury Cocooners who are focused on hearth and home. They spend most of their luxury budgets on home-related purchases;
Aspirers, those luxury consumers who have not yet achieved the level of luxury to which they aspire. They are highly attuned to brands and believe luxury is best expressed in what they buy and what they own.
Temperate Pragmatist a newly emerged luxury consumer who is not all that involved in the luxury lifestyle. As their name implies, they are careful spenders and not given to luxury indulgence.
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