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Brand Stories for HENRYs

How to Get Affluents to Spend More: Make It Really Worthwhile!

It’s all over the news — the rich are getting richer, as this recent New York Times article asserts.   And it’s true: The affluent consumers at the top 20% of household incomes are sitting pretty financially and their numbers are growing. But it’s not the affluents’ positive financial circumstances that will influence their spending on […]

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wine glasses

Luxury Marketers: We Are in the Happiness Business

I have recently been working on a branding concept for a new luxury offering.  Through the research process, it’s become clear to me that at its heart, every brand participating in the luxury market is ultimately in the Happiness Business. People trade up to luxury not because of quality, value or enhanced features offered, but […]

Brand Loyalty

Brand Loyalty: Why Brands Can’t Buy Loyalty with Points

Last year with great fanfare American Express launched a new concept in rewards programs called Plenti.  Its hook: it allows members to earn points across multiple brands, rather than just one.  So members can earn points by renting a car at Enterprise and redeem them at Macy’s. Apparently many brands are queueing up to join […]

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Luxury's Got Brand New Style

Why Tiffany Fails & Brands like James Avery Succeed

Last week Tiffany gave a depressing report on its two-month holiday sales. U.S. store sales were down 7% from previous year. That caused the company to give a sobering expectation for the full year, with expected net earnings to decline by 10%. But while Tiffany is struggling on New York’s Fifth Avenue, the jewelry market […]

HENRYs mini

Shinola Can Thank HENRYs for Its Success

Yesterday’s New York Times published a story about Shinola, famous for its ‘Made in Detroit’ watches, bicycles and leather goods. It profiled how the company kickstarted a renaissance of growth and prosperity in Detroit. Reporter Alex Williams wrote: As recently as a few years ago, when Mr. Kartsotis started his company [Shinola] known for its […]