Monday, 14th June 2004 (4015 views)

An insight into the luxury consumer was offered at the Luxury by JCK show by the president of a US marketing firm.

Pamela Danziger, president of Unity Marketing, was one of the keynote speakers at the event and looked at the psychographics and demographics of the emerging luxury consumer.

According to Ms Danziger luxury always gets introduced to the class market and then filters down to the mass market and explained no matter who is making the purchase, buying a quality product in the sale creates a thrill.

Reportedly consumers like to buy experiences and feel fulfilment from their purchases and key success comes from targeting the near affluent and affluent buyers - those earning $75,000 to $150,000.

Gold jewellers should try to find a synergy between the retail brand, product brand and the price/value equation according to the speech since luxury branding is a "triple play".

 

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