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 […]
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
You know the story, but do you know the lessons learned from it? Prior to the global financial crisis, affluent consumers spent above their means, in large part due to phantom-like perceived wealth. “Their housing values were going up and their 401k’s were going up, so they felt wealthy and tended to spend above […]
Read More… from Down But Not Out: How Affluents Shop for High-End Home Brands
Customers may fall in love with your brand, but only if you make a great first impression. Perhaps you’ve experienced from time to time an immediate, visceral reaction to a product you found in a store or online – so much so that you thought to yourself: “I am so buying that.” You didn’t think […]
Read More… from Love at First Sight with High-End Home Brands
If you understand the opportunities, your brand has unlimited potential. Marketers of high-end brands often tell me about the one-two punch they faced during the past several years. If the global recession didn’t knock them on the mat, the explosion of digital marketing certainly made them see stars. On one hand, affluent consumers pulled […]
Read More… from 4 Important Digital Trends Shaping High-End Home Brands
Get ready for intelligent technology in the home. I remember the first time I came face-to-face with “smart home technology.” I was standing in a booth at KBIS, the national kitchen and bath trade show, trying to decide if an internet-enabled computer screen, integrated into the door of a refrigerator, was a winner or […]
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 […]
