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Motivators to Buy Luxury - The Drive to Self-Actualization (Luxury Tracking Report 2Q2004) Product Image

Motivators to Buy Luxury - The Drive to Self-Actualization (Luxury Tracking Report 2Q2004)

  • ID: 297178
  • August 2004
  • Region: United States
  • 93 Pages
  • Unity Marketing

Motivators to Buy Luxury—The Drive for Self-Actualization Luxury Tracking Report & Analysis, 2Q2004

The second issue of the Luxury Tracking Service focuses on the role that self-actualization plays in luxury marketing. While luxury consumers buy luxuries for pleasure and enjoyment primarily, their next most important motivation is improving the quality of life

Luxury marketers, therefore, not only need to maximize their customer’s pleasure of the luxuries they offer. They need to maximize the life enhancing qualities of their products and services. They must provide luxury consumers with self-actualizing experiences from consuming and using the product or service

Luxury consumers more positive about financial well-being in 2Q2004

Reflecting a greater confidence in the economy, luxury consumers showed a substantial increase in their overall confidence in the second quarter. The Luxury Consumption Index rose to 102.7, up nearly five points (4.9 points) from the March 2004 level of 97.8

The Luxury Consumption Index measures luxury consumers' feelings and attitudes about their financial well-being. For example, 36 percent of luxury consumers READ MORE >

Chapter 1: Why People Buy Luxury

Everyone Everywhere Wants More Luxury
Lifestyle Changes Trigger Luxury Purchases
- Figure 1-1: Triggers of Luxury Purchases
Luxury Consumers Yearn for Experiences
- Figure 1-2: Greatest Source of Luxury Satisfaction & Happiness
Inner Life of Luxury Consumer Points to Self-Actualization as Primary Motivator for
Maslow's Heirarchy of Needs
When Things Are Not Enough; Luxury Consumers Express Desire for Experiences
Pleasure and Enjoyment in Luxury Living Enhances Consumers' Quality of Life
- Figure 1-3: Motivators for Luxury Purchases
Exclusivity Is Not Motivating to Luxury Consumers — We Need to Strive to Deliver
More Specialness to Luxury Consumers
Future Vision of Luxury — Next Luxury Boom Will Be in Experiential Luxuries

Chapter 2: Luxury Tracking Study Topline Findings

Luxury Consumption Index Rises 4.9 Points to 102.7
- Figure 2-1: Luxury Consumption Index
Many Luxury Consumers Feel Better Off Now than Four Months Ago
- Figure 2-2: Financial Well-Being
Luxury Spending Picks Up in 2Q2004
- Figure 2-3: Luxury Spending Trends
About Half Expect to Spend Same on Luxuries in Coming Twelve Months
- Figure 2-4: Expected Luxury Spending Next Twelve Months
Experiential Luxuries Remain Most Purchased During Second Quarter
- Figure 2-5: Luxury Purchase Incidence
Total Spending Grew 72 Percent in Study Period
- Figure 2-6: Total Luxury Spending
Super-Affluents Spend Twice as Much on Luxury as Affluents and 3.5 Time More than
- Figure 2-7: Luxury Spending by Income
Where Luxury Consumers Shop for Luxury Goods.
- Figure 2-8: Where Luxury Consumers Shop for Luxury Goods
Brand Awareness in Luxury Department Stores.
- Figure 2-9: Luxury Department Store Brand Awareness
Luxury Tracking Study: Second Quarter 2004
- Figure 2-10: Influences on Luxury Purchases

Chapter 3: Home Luxury Purchases: Detail Finding on Home Luxury Purchases

More Luxury Consumers Bought Home Luxuries in 2Q2004
- Figure 3-1: Home Luxuries Purchase Incidence & Expected Purchases
- Home Luxury Spending Overview
- Figure 3-2: Total Home Spending and Percentage Change
Where People Buy Home
- Figure 3-3: Where Luxury Shoppers Buy Home
Influencers of Luxury Home Purchase
- Figure 3-4: Influences on Home Luxury Purchases

Art & Antiques—Purchase Details
Where People Shop for Luxury Art & Antiques
- Figure 3-5: Art & Antiques Shopping Choices
Art & Antiques Brand Awareness & Brand Usage
- Figure 3-6: Art & Antiques Brand Awareness & Usage

Electronics & Photography Equipment—Purchase Details
Where People Shop for Electronics & Photography Equipment
- Figure 3-7: Electronics & Photography Equipment Shopping Choices
Electronics Brand Awareness & Brand Usage
- Figure 3-8: Electronics & Photography Equipment Brand Awareness & Usage

Home Decorating Fabrics, Window & Wall Coverings —Purchase Details
Where People Shop for Home Decorating Fabrics, Window and Wall Coverings
- Figure 3-9: Home Fabrics, Windows & Wall Covering Shopping Choices

Furniture, Lamps & Floor Coverings—Purchase Details
Where People Shop for Furniture, Lamps & Floor Coverings
- Figure 3-10: Furniture, Lamps & Floor Coverings Shopping Choices

Garden, Outdoor, Lawn & Patio Products—Purchase Details
Where People Shop for Garden, Outdoor, Lawn & Patio
- Figure 3-11: Garden, Patio, Outdoor Shopping Choices

Kitchenware, Cookware & Housewares—Purchase Details
Where People Shop for Kitchenware, Cookware
- Figure 3-12: Kitchenware, Cookware, Housewares Shopping Choices

Kitchen Appliances, Bath & Building Products—Purchase Details
Where People Shop for Kitchen Appliances, Bath & Building Products
- Figure 3-13: Kitchen Appliance, Bath & Building Products Shopping Choice

Linens & Bedding Products—Purchase Details
Where People Shop for Linens & Bedding Products
- Figure 3-14: Linens & Bedding Shopping Choices

Tabletop, Dinnerware, Flatware, Servingware—Purchase Details
What Types of Tabletop Were Purchased.
- Figure 3-15: Types of Tabletop Products Bought
Where People Shop for Tabletop Products
- Figure 3-16: Tabletop Shopping Choices
Why People Buy Luxury Tabletop, Dinnerware, Crystal, Flatware
- Figure 3-17: Motivators to Buy Luxury Tabletop
Tabletop Brand Awareness & Brand Usage
- Figure 3-18: Tabletop Brand Awareness & Brand Usage

Chapter 4: Personal Luxury Purchases
Nearly 70 Percent of Luxury Consumers Made Personal Luxury Purchases
- Figure 4-1: Personal Luxuries Purchase Incidence
Personal Luxuries Spending Overview
- Figure 4-2: Personal Luxuries Spending
Where People Buy Personal Luxuries
- Figure 4-3: Where Luxury Shoppers Buy Personal Luxuries
Influencers of Last Luxury Purchase
- Figure 4-4: Influencers of Personal Luxury Purchases

Automobiles & Recreational Vehicles—Purchase Details

Clothing & Apparel—Purchase Details
Where People Shop for Luxury Clothing & Apparel
- Figure 4-5: Clothing & Apparel Shopping Choices

Fashion Accessories—Purchase Details
Where People Shop for Fashion Accessories
- Figure 4-6: Fashion Accessories Shopping Choices

Fragrance, Cosmetics, and/or Beauty Products—Purchase Details
Where People Shop for Luxury Fragrances, Beauty Products, Cosmetics
- Figure 4-7: Fragrance, Cosmetics, Beauty Products Shopping Choices 1Q2004

Jewelry—Purchase Details
What Types of Jewelry Were Purchased
- Figure 4-8: Type of Jewelry Bought
Material of Composition
- Figure 4-9: Material of Composition
Gift vs. Self Purchase
- Figure 4-10: Gift vs. Self Purchase
Where People Shop for Jewelry
- Figure 4-11: Jewelry Shopping Choices
Jewelry Brand Awareness & Brand Usage
- Figure 4-12: Jewelry Brand Awareness & Brand Usage

Watches—Purchase Details
Where People Shop for Watches
- Figure 4-13: Watches Shopping Choices

Chapter 5: Experiential Luxury Purchases

Experiential Luxuries Were Most Purchased
- Figure 5-1: Experiential Luxuries Purchase Incidence & Expected Purchase
Experiential Spending Overview
- Figure 5-2: Experiential Luxuries Spending
Influencers on Experiential Luxury Purchases
- Figure 5-3: Influencers on Experiential Luxury Purchases

Luxury Dining—Purchase Details

Luxury Entertainment—Purchase Details

Luxury Spa, Beauty, Cosmetic Surgery—Purchase Details

Luxury Travel—Purchase Details

Type of Luxury Travel Bought
- Figure 5-4: Type of Luxury Travel
How Booked Most Recent Trip
- Figure 5-5: How Booked Last Trip
Luxury Travel Brand Awareness & Brand Usage
- Figure 5-6: Luxury Travel Brand Awareness & Brand Usage

Appendix A: Luxury Tracking Survey Methodology
Quarterly Tracking of Luxury Consumer Purchasing
Motivators for Luxury Purchases Researched in More Depth
Luxury Consumers Rose from Middle-Class Backgrounds
Luxury Tracking Study: Second Quarter 2004
- Figure A-1: Financial Status of Family of Origin
Sample Demographics
Income Demographics
- Figure A-2: Income Demographics
Age Distribution
- Figure A-3: Age & Generational Variables
Other Demographic Variables

Note: Product cover images may vary from those shown


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