The Seven-Year Guide to Trends in the Affluent Consumer Market for Home Luxury Goods in the USA
Unity Marketing has studied exactly what’s on the mind of today’s luxury consumers for home luxury goods. Details about trends in affluent consumer purchases of things for their homes, including purchases that represent major investments, such as art & antiques, furniture, floor coverings, major appliances, bath & building products, home electronics, outdoor/patio purchases and mattresses & sleep systems, as well as decorative and functional purchases, such as tabletop, kitchenwares and cooks’ tools, linens and soft goods.
Home Luxury Report Report USA digs deeply into the spending habits and preferences of high-net-worth (HNW) and high-earners-not-rich-yet (HENRY) individuals. Case studies of brands that are marketing successfully to today’s affluent consumers brings the data to life and makes it actionable for marketers looking to succeed in today’s value-driven luxury consumer market.
This report includes eye-opening statistics and detailed case studies to demonstrate how your brand can thrive in today’s value-oriented luxury consumer market.
In this can’t miss report, luxury brands, marketers and retailers will learn:
- Who has disposable income for home luxury goods purchases and where are they spending it today and where will they spend it tomorrow?
- How does today’s affluent customer define luxury?
- Where do luxury consumers shop for their homes and how has their shopping patterns changed pre-and-post recession?
- What brands do ultra-affluents favor in home categories, including tabletop, major appliances, mattresses and how do their preferences differ from the HENRYs (high-earners-not-rich-yet) customers?
- Which are the winners and losers in product choices affluent customers are making? What’s up and what’s down as measured by spending trends?
- How do affluents — Ultras & HENRYs — spend their money on personal luxury goods?
- What brands are making a connection with today’s luxury consumer?
The latest Home Luxury Report USA gives marketers data about seven years of trends in what American affluent consumers are buying, where they are shopping, how much they are spending and what brands they favor in home luxury goods, including:
- Art & Antiques;
- Home Electronics;
- Furniture, Lamps & Floor Coverings;
- Garden & Garden Products;
- Kitchenware, Cookware and Cooks’ Tools;
- Kitchen Appliances, Bath & Building Products including window covering;
- Linens, Fabrics & Soft Goods, including drapes and curtains;
- Mattresses and Sleep Systems;
The report shares findings of 2,500 luxury consumers surveyed in 2014 (average income $269,500) and compares results from comparable surveys conducted over the past six years, 2008-2013. This report provides a seven-year perspective of long term trends in the luxury consumer market.
“We designed the Home Luxury Report USA as both a powerful desk reference and a source for insight into the future trends in the luxury market. The new report provides the kind of detailed facts and figures about the luxury consumer market that will delight data-driven executives. But it also focuses on the mindset and attitudes of the luxury consumer, making it an invaluable tool for luxury brand executives to plan for the future of their changing marketplace,” says Danziger.
Further, the Home Luxury Report USA is enhanced with case studies of brands that are succeeding in connecting with today’s affluent consumer market. These case studies bring the data alive to provide guidance and direction for marketers looking to make the research actionable in their businesses.
More about the Home Luxury Report USA
Unity Marketing’s Home Luxury Report USA is the seven-year guide to the U.S. market for high-end and luxury goods for the home. This report focuses on the buying and spending habits of the nation’s affluent households — the top quintile or 20 percent of U.S. consumer households — of high-end or luxury products and services.
The Home Luxury Report USA is the annual compilation of Unity Marketing’s Affluent Consumer Tracking Study’s products and services survey detailing purchases and brand preferences. It reports the home luxury goods purchased by ~2,500 affluent consumers over the course of the three-month study period and is the only longitudinal study of its kind that tracks the luxury consumer market, what they buy, how much they spend during and after the recession.
The report contains details from continuous surveys from 2008-2014 on home luxury products bought by affluent consumers, including three-month spending, where these products were purchased and details of the types and brands of products bought.
The Home Luxury Report USA is written by Pam Danziger, one of the nation’s leading expert on the luxury market and is based upon the kind of in-depth consumer research for which Pam Danziger and Unity Marketing are known.
Guides luxury marketers to shifts and changes in their target customers’ attitudes and shopping behavior
This report provides vital data about what luxuries affluents are buying, how much they are spending, where they are making their purchases and what brands they favor. This report provides invaluable information about the mindset, attitudes and spending habits of the affluent consumers that luxury marketers target. This is not just report about people with high incomes, but affluents who buy luxury goods and services.
This report doesn’t stop with the data — It pushes further to help marketers and retailers put the information to use
This market research report helps make the research data and findings accessible and useable. It provides marketers with three powerful perspectives: “The What”, “So What” and “Now What.” This report is filled with advice and guidance for luxury marketers to take action on the research findings revealed.
Special feature: Find out which of the five different types of luxury consumers are your best customers
A special feature in Unity Marketing’s Home Luxury Report USA 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.