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The Experiential Luxury Report : Who Buys Luxury Experiences, What They Buy and Why They Buy
Unity Marketing, May 2008, Pages: 140
The Ultimate Guide to the Consumer Market for Experiential Marketers...
Experiential Luxury Report 2008 is the definitive study of the luxury consumers' buying and spending preferences, written by Pam Danziger, the nation's leading expert on the 'new luxury' market.
This report provides vital market size, growth and demographics for anyone and everyone that sells luxury, from marketers, advertisers, retailers, service providers. The Experiential Luxury Report 2008 is an essential tool to understand the dynamics of the luxury market, today and into the future.
This important new study of the luxury market provides the results of a two-year longitudinal research study of the luxury market conducted quarterly. This report is compiles detailed statistics collected in twelve waves of quarterly Luxury Tracking surveys during 2005, 2006 and 2007. In each of the three study years over 4,000 luxury consumers were surveyed. Specifically in the 2007 survey a total of 4,284 luxury consumers were surveyed, with an average income of $155,100; average age of 45.2 years including 64 percent female and 36 percent male respondents.
Details about services included in Experiential Luxury Report 2008
Details about what these luxury consumers bought, how much they spent, where they made their purchases, and in certain categories the luxury brands they patronized are reported.
Experiential Luxuries
- Dining
- Entertainment
- Home Services (House cleaning/maid; lawn care; landscaping; party planning/catering; home decorator/designer; pet care; pool maintenance)
- Spa, Massage, Beauty and Cosmetic Services
- Travel (Foreign and domestic luxury hotels, commercial air, resorts, cruises, group tours, adventure travel, private air travel), including favorite brands of luxury hotels.
Now you can make critical business decisions based upon facts - not beliefs, assumptions or fantasies
This report provides the facts and figures you need to develop winning marketing and business strategies. By working with the facts, not fantasies, you have a much better chance of success marketing to the luxury consumers. This report gives you 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 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; whether their luxury purchases were made a gifts; and other motivational factors.
Special feature: Find out which of the five different types of luxury consumers are your best customers
A special feature in Experiential Luxury Report 2008 is a psychographic profile of the five key types of luxury consumers, including a newly discovered luxury personality, the Temperate Pragmatist. 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.
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