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Luxury Report 2005 - Personal Luxuries and Automobile Edition - Who Buys Personal Luxuries and Luxury Automobiles, What They Buy, Why They Buy
Unity Marketing, May 2005, Pages: 1,900
This important new study of the luxury market, with a special emphasis on personal luxuries and automobiles, provides the results of a three-year longitudinal research study of the luxury market, which combines qualitative and quantitative methodologies. Some 600 luxury consumers were surveyed for the 2004 study (62 percent female and 38 percent male respondents). Their average income was $135,000 and their ages spanned 25 to 65 years of age, with 43 percent of the survey sample Baby Boomers and 44 percent GenXer luxury consumers providing a generational perspective.
This report provides an overview of luxury consumers' purchases in the four categories of luxury — home luxuries, personal luxuries, automobiles and experiences. In addition it provides details about what the personal luxuries and luxury automobiles these affluent consumers bought, how much they spent, where they made their purchases, and in certain personal luxury categories the luxury brands they patronized:
Personal Luxuries
Automobiles
Clothing and Apparel
Cosmetics, Fragrance and Beauty Products
Fashion Accessories
Jewelry and Watches
This report provides the facts and figures needed to develop winning marketing and business strategies for personal luxury marketers. By providing both details about personal luxury purchases and an overview across all categories of luxury, it gives 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 personal 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; and other motivational factors.
Special feature: Find out which of the four different types of luxury consumers are your best customers
A special feature in this Luxury Report 2005: Experiential Luxury Edition is a psychographic profile of the four 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.
Written for anyone and everyone that sells luxury, from marketers, advertisers, retailers, service providers, this report is an essential tool to understand the dynamics of the luxury market, today and into the future.
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