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Luxury Gifting (Luxury Tracking Report 4Q2004)
Unity Marketing, March 2005, Pages: 100
Chapter 1: Luxury Gifting
Introduction
Consumer insights are foundation of marketing strategies
Luxury gifters bought more gifts more often for more money
Luxuries — both 'big' luxuries and 'little' luxuries — make the best gifts.
How consumers describe a good gift
Entertainment and recreation gifts were luxury gifters' first choice
Figure: Categories of gift items purchased by luxury consumers; incomes $75,000 and above: Entertainment and recreation; clothing and accessories; consumables; store gift certificates; gifts of cash; personal care; home furnishings; gifts of experience, average amount spent and percent purchase
Luxury consumers more likely to purchase luxuries for themselves..
Figure: Luxury gifting in home luxuries; personal luxuries; experiential luxuries; average percentage
Personal luxuries were most gifted
Figure: Luxury gifting by categorys: home luxuries; personal luxuries; experiential luxuries; percentage over 50 percent bought as gifts
Getting a greater share of the gifters budget
Figure: Luxury gifting index: home luxuries; personal luxuries; experiential luxuries
Gifting is exponential marketing: take advantage of the opportunities
Chapter 2: Luxury Tracking Study Topline Findings: Luxury Consumers' Personal Confidence Rose in Fourth Quarter, but Doubts about the Economy as a Whole Kept Luxury Consumption Index Flat
Luxury Consumption Index Remained Flat at 95.6
Figure: Luxury Consumption Index
Real affluence today is measured by what you do and where you go, not by material
goods
Luxury consumers felt slightly better off in fourth quarter compared to third quarter
Figure: Financial Well-Being
Luxury Spending on the upswing in 4Q2004
Figure: Luxury Spending Trends
Over 70 percent will spend more of the same on luxuries in the coming twelve months.
Figure: Expected Luxury Spending Next Twelve Months
Luxury consumers express some negativity in economy as a whole
Figure: Overall financial health of the country
Luxury consumers very confident of their personal ability to handle economic turmoil
Luxury Tracking Study: Fourth Quarter 2004
Figure: Financial prospects next twelve months
Lifestage changes impacting the luxury market
Figure: Triggers for luxury purchases; lifestage changes in past twelve months and projected for 2005
Fewer go for home luxuries in fourth quarter, while purchase incidence of personal and
experiential luxuries mirros third quarter levels
Figure: Luxury Purchase Incidence, 2004 & Next Quarter
Total spending on luxuries increased 12 percent in fourth quarter, with biggest rise in experiential luxuries
Figure: Total Luxury Spending, 2003 & 1Q04-4Q04, % Chg Q3-Q4
Super-affluents spent more than twice as much on luxury as affluents and 3.7 times more than near-affluents
Figure: Luxury Spending by Income Segments; Near-Affluents, Affluents and Super-Affluents
Super-affluents pace of spending picks up in fourth quarter
Figure: Percentage change in luxury spending, 3Q04 to 4Q04 by income segments 30
More luxury consumers shop on the internet and warehouse clubs in the fourth quarter
Figure: Where Luxury Consumers Shop for Luxury Goods, by product category
Brand Awareness in Luxury Department Stores
Figure: Luxury Department Store Brand Awareness; Nordstroms, Neiman Marcus, Saks Fifth Ave, Marshall Fields
Chapter 3: Home Luxury Purchases: Detail Findings on Home Luxury Purchases
High level of third quarter purchase incidence trails off in fourth quarter
Figure: Home Luxuries Purchase Incidence & Expected Purchases, 1Q04-4Q04
More Modest Purchase of Home Luxuries Expected in 1Q2005
Figure: Home luxury purchases, actual 4Q04 and planned 1Q05
Figure: Variation in 3Q Planned Home Purchase vs. Actual 4Q Purchases
Average home luxury spending drops to lowest levels observed throughout 2004
Figure: Total Home Spending 1Q-4Q and Q3-Q4 Percentage Change
Affluents and super-affluents spent less on home luxuries in 4Q04
Figure: 3Q04 & 4Q204 Home Luxury Spending by Income Segment
Internet and warehouse clubs/outlets/discount shopping grow in popularity among luxury
home consumers
Figure: Where Luxury Consumers Shop for Home Luxuries
Tabletop and electronics were top home luxury gifting choices in 4Q04
Figure: Home gift purchases: percent of purchases where more than half were made as gifts
Art & Antiques—Purchase Details
Where People Shop for Luxury Art & Antiques
Figure: Art & Antiques Shopping Choices
Art & Antiques Brand Awareness & Brand Usage
Figure: Art & Antiques Brand Awareness & Usage: EBay, Sotheby's, Christies
Electronics & Photography Equipment—Purchase Details
Where People Shop for Electronics & Photography Equipment
Figure: Electronics & Photography Equipment Shopping Choices
Electronics Brand Awareness & Brand Usage
Figure: Electronics & Photography Equipment Brand Awareness & Usage: Best
Buy; Circuit City; Sony; Bose; Gateway; Panasonic; Samsung
Home Decorating Fabrics, Window & Wall Coverings —Purchase Details
Where People Shop for Home Decorating Fabrics, Window and Wall Coverings
Figure: Home Fabrics, Windows & Wall Covering Shopping Choices
Furniture, Lamps & Floor Coverings—Purchase Details
Where People Shop for Furniture, Lamps & Floor Coverings
Figure: Furniture, Lamps & Floor Coverings Shopping Choices
Garden, Outdoor, Lawn & Patio Products—Purchase Details
Where People Shop for Garden, Outdoor, Lawn & Patio
Figure: Garden, Patio, Outdoor Shopping Choices
Kitchenware, Cookware & Housewares—Purchase Details
Where People Shop for Kitchenware, Cookware
Figure: Kitchenware, Cookware, Housewares Shopping Choices
Kitchen Appliances, Bath & Building Products—Purchase Details
Where People Shop for Kitchen Appliances, Bath & Building Products
Figure: Kitchen Appliance, Bath & Building Products Shopping Choice
Linens & Bedding Products—Purchase Details
Where People Shop for Linens & Bedding Products
Figure: Linens & Bedding Shopping Choices
Tabletop, Dinnerware, Flatware, Servingware—Purchase Details
What Types of Tabletop Were Purchased.
Figure: Type of Tabletop Products Purchased: Any Glassware or Crystal; Any
Dinnerware; Any Silverware
Details: Crystal & Glassware
Figure: Type of crystal tabletop purchased
Details: Dinnerware
Figure: Type of dinnerware tabletop purchased
Details: Silverware
Figure: Type of silverware tabletop purchased
Where People Shop for Tabletop Products
Figure: Tabletop Shopping Choices
Why People Buy Luxury Tabletop, Dinnerware, Crystal, Flatware
Figure: Motivators to Buy Luxury Tabletop
Tabletop Brand Awareness & Brand Usage
Figure Tabletop Brand Awareness & Brand Usage: Lenox, Waterford, Swarovski,
Wedgwood, Baccarat, Lladro, Lalique, Haviland, Christofle, Reidel, Anna Weatherly,
Moser, Herend, Bernardaud, Daum
Chapter 4: Personal Luxury Purchases
Nearly 70 Percent of Luxury Consumers Made Personal Luxury Purchases
Figure: Personal Luxuries Purchase Incidence and Expected Purchases: 1Q04-
4Q04
Planned purchases is 3Q04 less than actual purchases in 4Q04
Figure: Personal luxury purchases: actual 4Q04 and planned 3Q04
Fourth quarter personal luxuries spending parallels third quarter spending
Figure: Personal Luxuries Spending
Super-Affluents Spent two-and-one-half times more than average on personal luxuries
Figure: 4Q04 Personal Luxuries Spending by Income Segments
Internet continues to grow as an important shopping venue
Figure: Where Luxury Consumers Shop for Personal Luxuries
Fourth quarter personal luxuries purchases reflect seasonal gifting
Figure: Personal luxuries purchases: Percent of purchases where over half were
made as gifts
Automobiles & Recreational Vehicles—Purchase Details
Clothing & Apparel—Purchase Details
Luxury fur made a comeback, but more luxury consumers preferred faux
Figure: Fur and Faux Fur Purchases, 4Q04
Where People Shop for Luxury Clothing & Apparel
Figure: Clothing & Apparel Shopping Choices
Fashion Accessories—Purchase Details
Where People Shop for Fashion Accessories
Figure: Fashion Accessories Shopping Choices
Fragrance, Cosmetics, and/or Beauty Products—Purchase Details
Where People Shop for Luxury Fragrances, Beauty Products, Cosmetics
Figure: Fragrance, Cosmetics, Beauty Products Shopping Choices
Jewelry and Watches —Purchase Details
Where People Shop for Jewelry and Watches
Figure: Jewelry and Watches Shopping Choices
What Types of Jewelry Were Purchased
Figure: Type of Jewelry Bought
Material of Composition
Figure: Material of Composition
Type of Watches Bought
Figure: Type of watches; women's and men's dress and casual/sport
Jewelry Brand Awareness & Brand Usage
Figure: Jewelry Brand Awareness & Brand Usage: Tiffany, Cartier, Bulgari, Bailey,
Banks and Biddle, Harry Winston, David Yurman, Scott Kay, Roberto Coin, Yvel,
Robert Lee Morris, Fope
Chapter 5: Experiential Luxury Purchases
Luxury consumers spent more on experiential luxuries, while their purchase incidence remained even with third quarter
Figure: Experiential Luxuries Purchase Incidence & Expected Purchases: 1Q04-
4Q04
Luxury consumers spent 19 Percent more on experiential luxuries
Figure: Experiential Luxuries Spending: 1Q04-4Q04 & Pct. Chg. 3Q-4Q
Super-affluents spent more than twice as much than average on experiential luxuries.
Figure: Experiential Luxury Spending by Income Segments
Beauty treatments were most popular experiential gift
Figure: Experiential Gift: Percent where more than half of purchases were made as
gifts
Luxury Dining—Purchase Details
Luxury Entertainment—Purchase Details
Luxury Spa, Beauty, Cosmetic Surgery—Purchase Details
Luxury Home Services — Purchase Details.
Luxury Travel—Purchase Details
Foreign travel participation remained about the same, while domestic travel was off slightly in fourth quarter
Figure: Type of Foreign Luxury Travel
Figure: Type of Domestic Travel Bought
This quarter direct reservations inched ahead of internet as favored way to book travel
Figure: How Booked Last Trip
Luxury Travel Brand Awareness & Brand Usage
Figure: Luxury Travel Brand Awareness & Brand Usage: Disney World/Cruises,
Ritz-Carlton, Four Seasons, Radisson Seven Seas, W Hotels, Crystal Cruises,
Silverseas Cruises
Appendix A: Luxury Tracking Survey Methodology
Quarterly Tracking of Luxury Consumer Purchasing
Luxury gift purchases researched in more depth
Sample Demographics
Income Demographics
Figure: Income Demographics
Gender Demographics Skews Female
Age Distribution
Figure: Age & Generational Variables
Other Demographic Variables
Product samples
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