The Nine Things Every Home Marketer Needs to Know about the Luxury Market

Presented by Pam Danziger, president Unity Marketing and author of Let Them Eat Cake: Marketing Luxury to the Masses — as well as the Classes

In retailing the 80’s was the decade of the mall and the 90’s was the decade of the discounters. This first decade of 21st century is the decade of luxury, which is ushering in changes of paradigm-shifting proportions at retail. The gigantic Baby Boom generation (born 1946-1964) has reached the empty-nesting life stage, freeing up vast stores of discretionary spending as boomers indulge in the luxury lifestyle to which they have always aspired. In addition, the Generation X (1965-1977) cohort is rapidly reaching middle-age which corresponds to a rise in affluence and spending on luxury.

Because of the rising tide of affluence across the board, empowered middle-income consumers are shopping for more luxuries to enhance the quality of their. And consumers at all income levels with their homes, closets, attics and basements stuffed full of things, are turning away from a pursuit of more materialism toward an experiential consumerism.

In this session attendees will learn the nine essential things they need to understand about the luxury market for home-related luxuries to win in the new decade of luxury retail. Backed up by a three-year longitudinal research study of luxury consumers defined as the top 25 percent of U.S. households (incomes of $75,000 and above), Pam Danziger draws on 20 years of research experience to offer a new direction for luxury marketers. She discovered a totally new type of luxury consumers that she identifies as ‘butterflies’ — the affluent consumers who have emerged from their cocoons to reconnect with the outside world and who respond strongly to luxury goods and services that connect with their dreams, desires, passions and value system.