The Luxe Life

How to navigate today’s smaller, more concentrated luxury landscapeWho’s BuyingThe group Unity Marketing president Pam Danziger terms “lower-income affluents”—incomes of $100,000 to $249,999—have dropped out. (She’s talking about the nearly 22 million aspirational shoppers who drove luxury sales and store growth in the early 2000s by spending against their perceived wealth.) It’s the ultra affluents—earning $250,000 and up—and young affluents, aged 40 and under, who will lead the luxury market out of its economic doldrums.What They WantThey want workman­ship, design…but also something extra. Greg Furman, of the Luxury Marketing Council in New York City, calls it “connoisseurship,” when values like heritage and customization are leading purchase factors. It’s no longer, “Look at me, I have money,” says Marie Helene Morrow, president of Reinhold Jewelers in

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