Results of Unity Marketing’s latest report, The Luxury Report 2009: the Ultimate Guide to the Luxury Consumer Market, offers insight into new trends among luxury consumers and tips to sell them despite the recession. The Stevens, Pa.-based market research firm provides detailed data about the purchase behavior and spending patterns of the nation’s most affluent consumers. Additionally, findings give marketers a peek into consumer trends that are transforming the luxury market in 2009 and beyond.
Pam Danziger, president of Unity Marketing, stated in a company release that she “designed the Luxury Report 2009 as both a powerful desk reference and a source for insight into the future of the luxury market.” Major findings in The Luxury Report 2009 suggest that luxury product and service marketers assess the outlook for their brands and their product categories in 2009 and beyond.
The Luxury Report 2009 is a compilation of four luxury tracking surveys that Unity Marketing conducts every three months with 1,000-1,250 affluent consumers who purchased one or more luxuries in the study period. Unity’s luxury tracking study is the only longitudinal survey of its kind that tracks the luxury consumer market, what they buy, and how much they spend. A total of 4,609 luxury consumers were surveyed in 2008 with an average income of about $200,000, which is representative of the 22 million affluent households in the country. Further, the report breaks down the affluent market into three distinct segments based on income, including profiles of the ultra-affluent consumers at the top with incomes of $250,000 and up.
Survey results include detailed data about affluent consumers’ purchases and spending in 21 categories of luxury goods and services, as well as new metrics that measure spending by specific product and by retail distribution channel. With this perspective, the report shows which of the product categories are growing the fastest year-over-year based upon increases in sales, and which product categories are dropping at the fastest rates.
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