Nearly half of affluent consumers will redecorate, remodel or renovate. Half of the $1.9 trillion that affluent Americans spend annually will be concentrated in four categories, including the home category, according to a recent study from Ipsos. Moreover, 45% of affluents are planning to redecorate, remodel or renovate their home or grounds in the […]
Read More… from More Affluent Consumers Planning to Purchase High-End Home Brands
Affluent consumers drive sales among high-end home brands, so you’d better understand their humble, middle-class values. A few years ago, I spoke to a group marketers of high-end brands. After the session, one of the CMOs in the audience told me that the vast majority of his company’s affluent consumers loved his brand so […]
Make sure that you are delivering a smooth digital experience for consumers. Some of the smartest marketers of high-end home brands find ideas and inspiration in luxury categories outside of the home, such as fashion, travel and automobiles. In a recent consumer insights article from McKinsey, LVMH’s Group Digital Director, Thomas Romieu, provides some […]
Read More… from How to Delight High-End Home Brand Consumers Online
A high-end home brand that provides options can dramatically impact a buyer’s perception of value. When brand marketers face the inevitable dilemma of expanding a product line, an often difficult decision is whether to go up- or down-market. Either choice has its own inherent risks and rewards: Introducing a lower-priced line of products may […]
There are more affluent consumers, but they are harder than ever to find. I’ve noticed a fascinating contradiction occurring within the affluent consumer base. On one hand, the number of affluent Americans is growing. There were 53,000 more millionaire households in the U.S. last year, compared to the year prior. On the other hand, […]
Read More… from The Good News and Bad News About High-End Home Brand Consumers
Five things you can do to dramatically improve your marketing performance. A few years ago, one of my high-end home brand clients was asked to participate in some benchmarking research from a leading management consulting firm. The consultants were studying a handful of leading consumer brands in order to capture some of the best […]
Read More… from Best Marketing Practices Among High-End Home Brands
Crafting unique marketing messages to men and women is tempting, but you can’t always trust the stereotypes. Fair or not, marketers often talk to the sexes differently. Understanding how to talk to both at once may be your best and sanest choice. In today’s post-modern, dual-income society, we may do it in more subtle […]
Read More… from How Men and Women Approach High-End Home Brands
There’s much to be learned by visiting (and recreating) a consumer’s home. Have you ever felt that you don’t have a good handle on your customer prospect, despite the fact that you have reams of data from previous focus groups and surveys? Or that when you finally acquire some actionable insight, nobody else in […]
Read More… from High-End Home Brands Gain Insight in the Home and at the Factory
Affluent consumers enthusiastically consume traditional and digital media. Marketers of high-end home brands had to make difficult decisions during the economic recession. When revenues fell, so did marketing budgets – and that often meant that media was dramatically cut. More than once, a CMO told me that they were facing a sort of “either/or” […]
Read More… from High-End Home Brand Media Consumption: A “Both/And” Proposition
Smart brands work to maximize joy post-purchase. Your consumer has finally decided that it’s time to update the kitchen, redecorate the living room, or replace the floors downstairs. As many marketers of high-end home brands know, the purchase cycle for an expensive home-related product could be six months to a year before she finally […]
Read More… from How Emotions Evolve in the High-End Home Brand Purchase Process
