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The Personal Luxury Report 2008: Who Buys Personal Luxuries, What They Buy and Why They Buy
Unity Marketing, May 2008, Pages: 160
The Ultimate Guide to the Luxury Consumer Market for Personal Luxury Marketers...
Personal 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 Personal 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 eight waves of Unity's quarterly Luxury Tracking surveys during 2006 and 2007. In each of the 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.
More details about products and brands included in Personal Luxury Report 2008
Details about what personal luxuries these consumers bought, how much they spent, where they made their purchases, and in certain categories the luxury brands they patronized are reported in four major categories of luxury.
Personal Luxuries
- Clothing and Apparel (Women's casual, dress/business, formal/evening, outerwear; men's casual, dress/business, formal/evening, outerwear; teen's clothing; children's clothing; baby clothing)
- Cosmetics, Fragrance and Beauty Products (Fragrances, perfumes; bath and body lotions; face care; hair care; cosmetics and makeup; sun and tanning products)
- Fashion Accessories (Women's handbags, shoes, brief cases, and fashion accessories, such as scarves, belts; men's wallets, brief cases and men's fashion accessories, including shoes, belts, etc.; luggage for men and women)
- Jewelry (Women's and men's jewelry by type, including necklaces, earrings, bracelets, rings, bridal/wedding, pins and brooches; women's and men's jewelry by material, including 14k and above gold, sterling silver, platinum, gold plate or vermeil, costume jewelry; and women's and men's jewelry by stone, including diamonds, other precious gemstones, semi-precious gemstones, pearl, faux or man-made, no gemstone content)
- Watches (Women's and men's watches by style, including formal/dress or casual/sports)
- Wine, Liquor and Spirits (Wine, champagne, vodka, whiskey, rum, scotch, cognac, bourbon, sherry/port)
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 Unity Marketing's Luxury Report 2008 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.
Special investigations into luxury consumer market
Each quarter Unity Marketing's luxury tracking survey conducts a special investigation into topics of interest to luxury marketers. Included in the Luxury Report 2008 is data on the following topics of timely importance:
- Luxury consumers and the Internet -- The role the Internet plays in the luxury consumers lifestyle, including what they buy online and how they use online to support their luxury lifestyles.
- Happiness and the luxury consumer -- How happy are the luxury consumers and what luxury marketers need to know about happiness as it pertains to luxury purchases.
- Status and the luxury consumer -- Role of status as a motivator for luxury consumption, including luxury consumers' attitudes about luxury.
- Loyalty marketing and the luxury consumer -- Research into the participation of luxury consumers into loyalty programs and how marketers can create more effective loyalty programs targeting the luxury consumer.
- Countries of luxury -- How luxury consumers interpret where luxury goods are manufactured, including which countries produce the best and lesser quality luxury goods. Special feature: Find out which of the four different types of luxury consumers are your best customers
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