Luxury Marketers: That "Made in" Stamp Matters
New Unity Marketing study reveals how affluent consumers feel about where their luxury goods come from
May 2011 Stevens, PA -- In this time of the dollar weakening against international currencies, including the pound, the Euro, and the Canadian dollar, those who market luxury goods may be tempted to hold the line on price by switching their manufacturing operations to countries where production costs are lower.
But a new luxury trend report by Unity Marketing entitled, What Luxury Executives Need to Know about Where Their Products Are Manufactured: How to use "place" to sell more luxury goods, shows that such a cost-cutting move may be a mistake that damages your brand and drives away the very customers you seek. Nearly 70 percent of 1,321 luxury consumers surveyed (avg. income $287.2k) said the place of manufacture is important when considering a new purchase.