Presented by Pam Danziger
President of Unity Marketing
and Par Excellence Magazine
Advisory Board Member
Pamela N. Danziger is an internationally recognized expert specializing in consumer insights, especially for marketers and retailers that sell luxury goods and experiences to the masses as well as the 'classes.' She is president of Unity Marketing, a marketing consulting firm she founded in 1992.
Advising such clients as PPR & Gucci, Diageo, Waterford-Wedgwood, Google, Swarovski, GM, Orient-Express Hotels, Italian Trade Commission, Marie Claire magazine, The World Gold Council, and The Conference Board, Pam taps consumer psychology to help clients navigate the changing consumer marketplace.
Follow Pam on Twitter http://www.twitter.com/PamDanziger
Louis Vuitton Produced a Beautiful Commercial, But Forgot To Tell Consumers Why They Need Louis Vuitton Bags to accompany Them On Their Life Journey
The blogs are abuzz with praise over Louis Vuitton’s first commercial. The company in its January 28 press release describes the concept behind the 90-second 'ode' to the Louis Vuitton brand as "a powerful statement of the core values of Louis Vuitton, the film shows virtually no product and has less a subject than a spirit -- an intensely atmospheric evocation of travel as a life-changing experience."
Pam Danziger's latest book, Shopping, is packed with strategies retailers can use to achieve success in a tight retail market
Last week Federal Reserve Chairman Ben Bernanke went to Capitol Hill and gave a guarded assessment of the economy. He forecast "sluggish growth" for the next several months. This means a more competitive market for the nation's retailers, as shoppers hold back from making discretionary purchases -- buying things they don't really need -- in favor of spending their money only for practical, needs-based purchases.
The pain of reduced discretionary spending is already being felt in the luxury sector where American luxury consumers cut their spending on luxury goods and services more than 20 percent from the first half of 2007 to the second, according to the latest survey of affluent consumer spending by Unity Marketing.
'Unity Marketing finds luxury consumers prefer luxury goods from the U.S.A. and Italy, while being suspicious of those 'Made in China
In this time of financial turmoil in the U.S. and 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.
Unity Marketing's Luxury Consumption Index drops to historic low of 63.6 points as more than two-thirds of affluent consumers believe the economy is in trouble
Conventional wisdom holds that affluent consumers are immune to economic downturns. But the current financial crisis is proving the conventional wisdom wrong. Luxury consumers confidence at the beginning of 2008 has never been lower, dropping 23.8 points from the third quarter to 63.6 points in the fourth quarter 2007, as measured by Unity Marketing's Luxury Consumption Index.
As Luxury Consumers Deal With Their 'Hangover,' Unity Marketing Offers Luxury Marketers Powerful Consumer Insights To Predict Market Shifts Like The One We Are Seeing Now
For the luxury market the flood of bad news on the luxury front has taken a lot of people by surprise. Luxury leaders, like Tiffany & Company, Nordstrom and Saks Fifth Avenue, have reported weaker than expected results for the vital holiday shopping season. Even American Express said that beginning in early December their mostly affluent card holders cut back on spending.