Thursday, October 22, 2009

The New Luxury Customer

If you haven't already discovered her, please make a point to visit luxury marketing consultant Pam Danziger's website, http://www.Unity Marketing

Danziger's luxury research firm just completed "A Study of the 'New Normal' Luxury Consumer Market AFTER the Recession."

Danziger was one of the few marketing experts who accurately predicted the impact of the recession on affluent consumers, the supposedly "recession proof" demographic, as far back as 2007.

I plan to attend her upcoming webinar on the New Luxury Customer on November 12.

In particular, I'm interested in the five "psychographic" profiles she has discovered in her research, and how spas might market to them:

"X-Fluents (Extremely Affluent) who spend the most on luxury and are most highly invested in luxury living. In the report you will learn how the share of X-Fluents is on the rise in the current market, as other personality types drop out of the overall luxury market.

Butterflies, the most highly evolved luxury consumers who have emerged from their luxury cocoons with a passion to reconnect with the outside world. Powered by a search for meaning and new experiences, the Butterflies have the least materialistic orientation among the segments.

Luxury Cocooners who are focused on hearth and home. They spend most of their luxury budgets on home-related purchases

Aspirers, those luxury consumers who have not yet achieved the level of luxury to which they aspire. They are highly attuned to brands and believe luxury is best expressed in what they buy and what they own.

Temperate Pragmatists, a newly emerged luxury consumer who is not all that involved in the luxury lifestyle. As their name implies, they are careful spenders and not given to luxury indulgence."

Danziger's studies are designed for luxury marketers and priced accordingly; however, even small businesses can learn a great deal from her free "executive summaries" and from hearing her speak.