I am currently working on my new book, Putting the Luxe Back in Luxury, that will be published later this year by Paramount Market Publishing.  The book will examine what the next decade holds for luxury marketers.  It will look at how the affluent shopper will adapt in the post-recession environment.  It will profile luxury marketers and service providers that are poised to take advantage of the new opportunities and the challenges they will face in the new decade.

I recently talked with Doris Walsh, PMP's editorial director, about the book and am sharing our discussion with you....   

 -- Pam Danziger, Unity Marketing

Danziger's New Book -- Putting the Luxe Back in Luxury -- Coming Soon

Doris Walsh:  I know you have been researching the luxury market extensively. What is the main change you see?

Pam Danziger:  Once the current recession is over, the luxury consumer market is going to be very different from the way it was during the boom years.  People have a new value system that rejects rampant materialism. I think it will last. The new generation of consumers is thinking about the future and learning that conspicuous consumption is not the way to grow wealth, to achieve happiness, or to make their lives more meaningful.

DW: If people are rejecting materialism, what replaces it?

PD: Affluents who have much are giving back, doing good, and taking concrete steps to make the world a better place.

DW: That seems like good news. But what does it mean for the market for luxury goods?

PD: Interestingly, one of the shifts we see is that luxury consumers expect the brands and retailers they support to be good stewards of the environment and good citizens of the world. So that’s one thing to think about.  Also, by a wide margin,  affluent consumers choose experiences over 'stuff.' Fifty-two percent say travel, dining, and entertainment are luxury purchases that give them the most satisfaction. Twenty-five percent say it’s their luxury home that gives them satisfaction, and 15 percent mention personal luxuries such as fashion and jewelry.

DW: So the challenge for luxury marketers is?

PD: To put the luxe back in luxury by integrating the new psychology and changing demographics into their business and strategic planning;  to find  unique ways to innovate their brands and messages; and to inspire consumers to spend their time, money to establish a relationship with the brand.

These are the prime messages in my new book, which explores all these principles in much greater detail and will include interviews with many luxury product and service and retailers.

If you like what you have read, here is more...

I have mounted the Introductory chapter of Putting the Luxe Back in Luxury on my website.  You can download a free copy of the introduction here: http://bit.ly/Luxe_Intro_Registration

You can also reserve a signed copy of the book at PMP's website here: http://bit.ly/Luxe_Back_in_Luxury