New Unity Marketing survey reveals where the wealthiest Americans shop...
Discount Department Stores like Target and Kohls Appeal to the Nation's Wealthiest Shoppers
When Apple's retail innovator Ron Johnson joins JC Penney's later this year, he'll already find a critical mass of wealthy shoppers in his midst
Stevens, PA June 2011 -- Think that the nation's wealthiest shoppers, those ultra-affluents at the top 2 percent of U.S. households with incomes of $250,000 and above, shop only at the toniest places? Think again. They are just as eager as shoppers with less disposable income to find good quality at reasonable prices. That's why they shop at discounters like number one ranked Target, as well as at Kohls, Costco and Walmart just like everybody else, according to the latest survey of luxury consumers conducted by Unity Marketing.
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.