Experiential Luxury Report 2009: Ultimate Guide to the Luxury Consumer Market for Travel & Other Experiences

Published by: Unity Marketing Inc.

Published: Aug. 26, 2009 - 194 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

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

Abstract

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