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
When You Will Know If the Time Is Right for Social Media
Retailers and small businesses ask: What -- if anything -- should I do about social media?
Social media noise is everywhere these days. You can't even watch the latest television news without getting an invitation to send your comments to the talking head of the day via Twitter, Facebook, the newscaster's webpage, email, or the station's website.
Social media has also gone commercial with international brands like Audi running a Twitter hashtag campaign in their ad for the Super Bowl, easily the most expensive television commercial thanks to its huge audience. Audi's investment in this effort shows the importance they believe social media has attained.
New Unity Marketing survey reveals where the wealthiest Americans shop
Barneys New York, Nordstrom and Bergdorft Goodman Are the Top Luxury Department Stores among Ultra-Affluents
But signs are that the wealthiest consumers are slowing their pace of shopping in these stores
The ultra-affluents, those with incomes of $250,000 and above, are the wealthiest 2 percent of U.S. households who spend the most in the consumer economy. For the retailers who can capture this market, life is good. However, as new data from Unity Marketing shows, holding onto the ultra-affluent market is a job even the top retailers struggle with.
Based on the latest quarterly survey of luxury consumers, Barneys New York, Nordstrom, and Bergdorf Goodman emerged as the top three luxe department store destinations among ultra-affluents. However, a look back at the previous year shows ups and downs among ultra-affluent patronage of these retailers:
Stationery Enhances the Luxury of a Hand-Written Note
A handwritten note is the ultimate in luxury communications
Recently, I received a note from Kevin Blackford, the postmaster in Stuarts Draft, VA, who told me about their “Letter Is Better” project aimed at young people to encourage letter-writing. The project provides school children with stamped envelopes so that they can write and mail a letter to a close friend or family member. The response from both the students and the letter recipients has been “amazing and heartwarming,” he says, and I hope that this starts a lifetime of letter-writing for these students.
With net books, smart phones, and iPads continually at our fingertips, vying for our attention (and investment!), I have realized that perhaps the ultimate in communications luxury is the handwritten letter. Taking a few minutes to enjoy the experience of putting pen to paper and create an entirely original piece of communications is a time-honored practice that is gaining in popularity and importance.
Affluent shoppers use country of origin as a proxy to measure quality
June 2011 Stevens, PA -- Mary Kate and Ashley Olsen proudly promote the domestic manufacture of most of the clothing included in their women's label, The Row. Brooks Brothers does likewise, as does menswear maker Joseph Abboud. For luxury brands, the "Made in America" label is a detail that affluent consumers are willing to pay up for.
But marketers should dig deeper before assuming that this interest in domestically-producedluxury goods is simply an expression of affluent patriotism. According to a recent study by Unity Marketing, affluent consumers associate certain attributes with countries of origin of luxury goods, and the USA is associated with the qualities affluents desire most.
Report 2011 Published: Latest Trends in Luxury Market
This year's report shows a luxury consumer market in recovery mode coming out of the recession
Spending on luxury is up dramatically, but that increase is being driven by greater participation of ultra-affluents in the luxury market -- Lower-income HENRYs are 'missing in action' when it comes to luxury
Stevens, PA May 2011 -- Unity Marketing has just published its annual report on the state of the luxury market. The Luxury Report 2011: the Ultimate Guide to the Luxury Consumer Market, provides detail data about the purchase behavior and spending trends of the nation's most affluent consumers from 2008 through 2010.