Time Is the Ultimate Luxury -- But One's Perception of Luxurious Time Is Relative
Unity Marketing's Pam Danziger publishes a new white paper that explores how affluents view time and what that means for the luxury travel market.
June, 2012 Stevens, PA -- When we think of affluent consumers, we think of money - how they earn it, how they spend it, and how to attract their spending to particular products and services. But to really understand what all consumers hold most dear, you have to understand how they perceive time. A new white paper by Unity Marketing president Pam Danziger, "Luxury of Time: A Generational Perspective," helps luxury marketers better understand their customers' different perceptions of time.
Time is the ultimate luxury, and this is true for the affluent as well as for everyone else. Money is fungible; almost anyone can increase their income by working longer, harder, or smarter. When it comes to money, affluent consumers have plenty of it, since they have incomes and personal wealth way above the nation's average. But having all that money to spend ultimately diminishes the pleasure of new purchases.