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Part 1: Luxury Market Research Study: Who Was Studied, Methodology &
Research Summary
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2
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Part 1: Summary
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3
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Research objectives &
methodology
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4
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Survey respondent
demographic profile — Women with HHI of $152k are representative
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8
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White suburban homeowners
with household value of $250,000 are typical
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9
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White, married households
with one child predominate
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10
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Consumers in their
middle-to-mature years are surveyed
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11
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Everyone purchases luxury
products while fewer purchase luxury services
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12
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Luxury products &
services equally provide greatest satisfactions
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13
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Luxury market: Where does this survey sample fit into the
nation’s population
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15
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Affluent market accounts for
more than half of household spending
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16
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Part 2: What is Luxury? How Consumers View Their World, Attitudes about Luxury,
Personalities of Luxury Consumers
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17
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Part 2: Major findings
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18
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Luxury is power to pursue
your passions: Dimensions of luxury
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20
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Consumers express what is
luxury
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23
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Luxury is about feelings
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25
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Luxuries don’t have to cost
much
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26
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You can’t go back from
luxury
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27
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Lifestyle triggers for
luxury purchases
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28
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These are comfortable
consumers
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29
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Stock market downturn had
greater impact on luxury consumers than 9-11
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30
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Despite the changes in the
world, these consumers feel equally well off as last year
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31
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For those who feel less
well off, stock market downturn is main reason
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32
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Percentage of luxury
consumers that strongly agree or agree with key statements about luxury
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33
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Attitudes about luxury
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34
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Three different luxury
consumer segments discovered based upon their attitudes about luxury
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35
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Butterflies have emerged
from their luxurious cocoons to connect with outside world
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37
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Luxury cocooners are still
enveloped in their luxury cocoons
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39
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Aspiring luxury class are
the up-and-comers
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40
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What luxuries the three
luxury segments buy
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41
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Part 3: Luxury Products; Purchase Behavior & Spending
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42
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Part 3: Major Findings
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43
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Luxury electroncs, garden
and fragrances & beauty are top most purchased luxury products
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Higher income consumers are
significantly more active buying many luxury product categories
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Automobiles, followed by
recreational vehicles, capture greatest share of annual luxury spending
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Higher income and older
consumers spend more on most luxury products
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48
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Higher income consumers
spend four-times more on luxuries than lower income consumers
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49
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What is total value of
luxury product market? About $250
billion
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Per item spending on
automobiles, followed by recreational vehicles, is highest
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51
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Per item spending mirrors
total spending: the more affluent and
older consumers tend to spend more
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52
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Luxury purchase behavior
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53
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Buy after shopping around
vs. Shop in only one place
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53
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Buy on impulse vs. Waited
long time
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54
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Make decision yourself vs.
Make decision jointly
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55
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Buy on sale or discounted
off regular price vs. Pay full list price
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56
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Did not do any research vs.
Carefully researched purchase
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57
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Art & Antiques Purchase
Behavior Summary
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58
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Art & Antiques Purchase
Motivation
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60
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Automobile Purchase
Behavior Summary
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61
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Automobile Purchase
Motivation
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63
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Recreational Vehicle
Purchase Behavior Summary
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65
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Electronics Purchase
Behavior Summary
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67
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Electronics Purchase
Motivation
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69
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Fabrics, Wall & Window
Coverings Purchase Behavior Summary
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70
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Fabric, Wall & Window
Coverings Purchase Motivation
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72
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Fashion Apparel &
Accessories Purchase Behavior Summary
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73
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Fashion Apparel &
Accessories Purchase Motivation
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75
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Fragrance & Beauty
Products Purchase Behavior Summary
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77
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Fragrance & Beauty
Products Purchase Motivation
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79
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Furniture & Floor
Coverings Purchase Behavior Summary
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80
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Furniture & Floor
Coverings Purchase Motivation
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82
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Garden & Garden
Products Purchase Behavior Summary
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84
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Garden & Garden
Products Purchase Motivation
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86
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Jewelry & Watches
Purchase Behavior Summary
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87
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Jewelry & Watches
Purchase Motivation
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89
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Kitchenware, Housewares
& Cookware Purchase Behavior Summary
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91
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Kitchenware, Housewares
& Cookware Purchase Motivation
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93
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Kitchen Appliances, Bath
& Building Products Purchase Behavior Summary
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94
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Kitchen Appliances, Bath
& Building Products Purchase Motivation
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96
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Linens & Bedding
Products Purchase Behavior Summary
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98
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Linens & Bedding
Products Purchase Motivation
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100
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Tabletop Products Purchase
Behavior Summary
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101
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Tabletop Products Purchase
Motivation
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103
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Spending trends point to
lower spending on luxury products next year
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105
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Brand and/or company
reputation and store/dealer reputation are key influencers on luxury
consumers to buy
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106
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Top attributes of luxury
products are superior overall quality, quality of materials, craftsmanship,
design and durability
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108
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Part 4: Luxury Services: Purchase Behavior & Spending
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109
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Part 4: Major Findings
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Luxury Travel &
Housecleaning are top luxury services purchased
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111
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Buying services is strongly
linked to household income
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112
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Luxury consumers spend the
most on luxury travel and home decorating services
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113
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Higher income consumers
spend more on luxury services
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114
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Higher income consumers
spend two-and-one-half as much on all luxury services, while middle-aged
luxury consumers tend to spend more on services
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115
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Spending on individual
purchase is highest for travel
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116
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Higher income luxury
consumers spent more on last luxury service bought
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Luxury Services Behavior
Summary
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118
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Regular, recurring purchase
vs. One-time charge
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118
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Buy after shopping around
vs. Shop in only one place
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119
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Buy on impulse vs. Waited
long time
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120
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Make decision yourself vs.
Make decision jointly
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121
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Buy on sale or discounted
off regular price vs. Pay full list price
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122
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Did not do any research
vs. Carefully researched purchase
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123
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Housecleaning/maid service
purchase behavior summary
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124
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Housecleaning/maid service
purchase motivations
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126
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Luxury travel service
purchase behavior summary
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127
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Luxury travel service
purchase motivations
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129
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Entertainment service
purchase behavior summary
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131
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Entertainment service
purchase motivations
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133
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Home decorator service
purchase behavior summary
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134
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Home decorator service
purchase motivations
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136
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Landscaper service purchase
behavior summary
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137
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Landscaper service purchase
motivations
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139
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Spa, massage, beauty
treatments service purchase behavior summary
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140
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Spa, massage, beauty
treatments service purchase motivations
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142
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Catering/Party Planning
service purchase behavior summary
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143
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Catering/Party Planning
service purchase motivations
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145
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Part 5: Luxury Home: Attitudes about Home
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146
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Part 5: Major Findings
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147
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Luxury home purchases
topped by electronics and garden products
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148
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Higher income households
are significantly more active buying home luxury products & services
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149
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Home luxury products &
services account for just over half of total luxury spending
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150
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Purchase behavior for home
products & services
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151
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Attitudes about home
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152
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Five different luxury
consumer segments discovered upon based upon their attitudes toward home and
home decorating
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153
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Decorate & forget it
materialists — Segment profile
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155
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Creative expressionist —
Segment profile
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156
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Been-there, done-thats —
Segment profile
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157
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The Client — Segment
profile
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158
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Nester in transition —
Segment profile
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159
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Part 6: Age Segmentation: Key differences between the three age
groups found among luxury consumers
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160
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Part 6: Major findings
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161
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Two key age groups
represented in survey: Middle-aged
(35-to-49) and mature (50-to-69)
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162
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Key demographic variables
by age
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163
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Matures are comfortable,
but more likely to feel less well off than past year
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164
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How age groups differ in
luxury purchase choices
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165
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More mature consumers
outspend the more youthful on luxuries
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166
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Matures spend 20% more than
middle-aged consumers on luxury
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167
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Matures have slight
tendency to buy more services
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168
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But middle-aged tend to
spend more in total on luxury services
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169
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Lifestyle triggers differ
for matures & middle-aged
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170
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Part 7: Future Vision Trends: Luxury market trends, implications &
opportunities
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171
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Part 7: Major Findings
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172
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Striving for equilibrium
characterizes the luxury consumer of the new millennium
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173
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Trend #1: Luxury consumers are emerging from their
cocoon and reconnecting with the world outside
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175
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Trend #1: Implications & opportunities
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176
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Trend #2: Luxury brands’ role in getting people to
buy will increase
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178
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Trend #2: Implications & opportunities
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183
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Trend #3: Luxury must continually evolve &
reinvent itself
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Trend #3: Implications & opportunities
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189
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Trend #4: Luxury consumers are savvy shoppers that
expect greater and greater value
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190
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Trend #4: Implications & opportunities
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192
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Trend #5: Luxury must extend throughout the entire
buying cycle
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Trend #5: Implications & opportunities
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197
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Trend #6: Next luxury boom will be in luxury
services
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198
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Trend #6: Implications & opportunities
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199
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Trend #7: Generations define luxury
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Trend #7: Implications & opportunities
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