Luxury Clothing & Apparel Snapshot Report 2009: A Trend Report on the Market for Luxury Clothing and Apparel

Published by: Unity Marketing Inc.

Published: Jul. 30, 2009 - 32 Pages

Table of Contents

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

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

Clothing & Apparel - Purchase Details

Clothing & Apparel Purchase Incidence

Type of Clothing & Apparel Bought

Figure 9 Type of Clothing & Apparel Bought

Amount Spent on Clothing & Apparel

Figure 10: Clothing and Apparel Spending by Demographic Segment 2007-2008

Clothing & Apparel: Estimated Spending by Product

Figure 11: Estimated Spending on Luxury Clothing & Apparel (2007-2008)

>> Clothing Luxury Marketers: Take Action

Abstract

Competition was brutal for the luxury and high-end clothing and apparel shopper in 2008. The overall share of affluents who bought luxury apparel declined, as their spending also tumbled. These two trends together resulted in dramatic declines in sales and created panic among luxury fashion brands and retailers.

Going into the critical 2010 selling season, luxury clothing and apparel marketers need new insights to help them find traction in the changing luxury market. That is why Unity Marketing published a new "just the facts, ma'am" report on the luxury clothing and apparel market. It includes details, facts and figures taken from Unity Marketing's Luxury Report 2009: The Ultimate Guide to the Luxury Consumer Market, which is based upon quarterly surveys among 1,000-1,200 affluent consumers (incomes $100,000 and above) conducted throughout 2007 and 2008.

Contained in this new concise snapshot report are these essential facts and figures that can give direction to luxury marketers' business and strategic plans.

• What clothing and apparel items are of most of interest to affluent consumers and how these items are trending year-over-year both in terms of purchase incidence and spending.
• Which demographic segments of affluent consumers are increasing their spending, and which are still cutting back on luxury clothing and apparel purchases.
• Which retailers are the hot destinations for garden and outdoor shopping, and which are still struggling to get into the game.
• Which of the more than 40 fashion brands included in the survey resonate most strongly with the affluent consumer, especially among the ultra-affluent segment (HHI $250,000) who are the most loyal customers for the leading luxury fashion brands.
• What marketing messages affluent consumers find most attractive in the fashion sector.

"This report is written specifically for marketers that want the most up-to-date and salient facts to help them understand the trends in the current market and ways they can address their challenges. Unlike Unity Marketing's in-depth market research reports, this snapshot report gives the marketer the most important consumer data that will bring dimension to business planning. It doesn't overwhelm the busy executive with a lot of excess baggage they don't need, but presents them with the facts and figures they need to make decisions," explains Pam Danziger, president of Unity Marketing and author of Shopping: Why We Love It and How Retailers Can Create the Ultimate Customer Experience.

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