Are affluent consumers avoiding luxury items? Source: National Jeweler Network
Are affluent consumers avoiding luxury items? Source: National Jeweler Network
Stevens, Pa.—A new survey from Unity Marketing finds that most affluent consumers don't actually make high-end luxury purchases a major part of their lives.
The second-quarter Luxury Tracking Report, based on a survey of some 1,000 luxury consumers (average income $155,500, average age 44.3 years), finds that while one-third of those surveyed have enjoyed luxuries in their lives, "luxury is not a part of their lifestyle."
The report also indicates that 27 percent of respondents admitted to scaling back on some purchases to afford luxuries in other areas that really matter to them.
Unity Marketing sums up the findings by saying that three out of every five potential luxury consumers is able to easily walk past high-end stores.
Pam Danziger, president of Unity Marketing, says that to capture the attention of this demographic, luxury marketers need to invest in consumer insights that will help them discover what the typical affluent consumer really wants in the luxuries he or she occasionally indulges in.
"I think marketers sometimes get too caught up in their business and their brands' marketing messages," Danziger said in a statement. "They are clueless as to how the consumer really sees things."
"Marketers need to convey to the reluctant luxury customer why their product or service is a smart choice as that occasional treat," Danziger continued. "They need to emphasize the superior quality, workmanship, materials or service that they provide, and work hard to make customers see why it is worth trading up to their brand of luxury item."
The second-quarter Luxury Tracking Report, based on a survey of some 1,000 luxury consumers (average income $155,500, average age 44.3 years), finds that while one-third of those surveyed have enjoyed luxuries in their lives, "luxury is not a part of their lifestyle."
The report also indicates that 27 percent of respondents admitted to scaling back on some purchases to afford luxuries in other areas that really matter to them.
Unity Marketing sums up the findings by saying that three out of every five potential luxury consumers is able to easily walk past high-end stores.
Pam Danziger, president of Unity Marketing, says that to capture the attention of this demographic, luxury marketers need to invest in consumer insights that will help them discover what the typical affluent consumer really wants in the luxuries he or she occasionally indulges in.
"I think marketers sometimes get too caught up in their business and their brands' marketing messages," Danziger said in a statement. "They are clueless as to how the consumer really sees things."
"Marketers need to convey to the reluctant luxury customer why their product or service is a smart choice as that occasional treat," Danziger continued. "They need to emphasize the superior quality, workmanship, materials or service that they provide, and work hard to make customers see why it is worth trading up to their brand of luxury item."












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