Brendan Howard / Shutterstock.com Yes, they are different, but don’t assume that they don’t consume media like everyone else. The high-end marketplace often thinks of Ultra High Net Worth (UHNW) consumers as exotic and mysterious creatures, like Sundarbans tigers. Granted, these consumers are rare – there are only 60,000 or so of them […]
Read More… from The Elusive and Mysterious Ultra High Net Worth Consumer Among High-End Home Brands
When they come off of the sidelines, they will be different. One of the biggest drivers of the sluggish U.S. housing recovery has been the fact that Millennials – the 80+ million consumers reaching young adulthood around the year 2000 – have been sitting on the sidelines. “This recovery is virtually millennial-free,” says financial […]
Read More… from The Impact of Millennials on High-End Home Brands
Image via Rockwell Group A new luxury concept challenges conventional thinking. When Fred Carl founded Viking Range in the mid-1980s, he challenged the status quo in the appliance world by creating a new category of professional-style cooking equipment created exclusively for the home. My colleagues and I had the great pleasure of working […]
New tool helps retailers drive sales via Instagram. Social media networks are by their very nature, well, social. They belong to people, not brands, and as hard as brands try, they will never quite “own” social media to the degree that they own other marketing channels. And that sometimes makes marketers nervous. It’s why marketers […]
Read More… from The Missing Link for High-End Home Brand Social Media
Going beyond logos and craftsmanship. When marketers of high-end home brands are seeking insights, trends, and inspiration, sometimes it makes sense to look out-of-category, toward other high-end segments such as automotive, fashion, and travel. A perennial source of inspiration for me is the luxury conglomerate, LVMH, parent company of Louis Vuitton, Bulgari, Dom Perignon, […]
Brands can prosper by staying on top of evolving real estate trends. If you’ve been a marketer for a high-end home brand for a while, there’s a good chance that you have experienced some high-flying economic upturns, as well as some brutally tough downturns. You’ve learned to adapt, adjusting your strategies and communications to […]
Read More… from Is Your High-End Home Brand “Perfect for Entertaining?”
Contrasting studies can be confusing, but your job is to remain focused. Sometimes, I am dazed and confused by the variety of reports that come over the transom. In one month, I’ve seen a consumer sentiment study that was bullish, as well as another that was bearish. These contradictions can be confusing, especially to […]
Read More… from Is Consumer Sentiment Improving (Or Not) For High-End Home Brands?
Business leaders are the heaviest spenders. Affluent consumers drive the U.S. economy. In an economy where consumer spending accounts for 70% of the country’s gross domestic product, Affluents account for more than 40% of this volume. They are twice as likely to buy, and when they do, spend 3x more than the average household […]
Read More… from Understanding the Most Sought-After Segment of Affluent Americans
A shortcut for how to think about affluent consumers. One of the most important jobs for a marketer of high-end brands is to understand the incredibly complex diversity of affluent consumers in the marketplace. They are not a one-dimensional group, even if the mainstream media tends to portray them that way. “Marketers’ fantasies about […]
High-end brand marketers can use data to leverage their strategies A recent report from Bain & Co’s Claudia D’Arpizio provides a great perspective on where affluent consumers are spending now – which is a great barometer not only for high-end home brands, but premium and luxury brands in general. The report covers several categories across […]
