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Conventional wisdom holds that when the economy flounders, the well-heeled don’t skip a beat and keep spending while everyone else cuts corners and pulls back. But early indications are that when, rather than if, the economy falters, the high-earning affluent will share in the pain. And their pain will roll over onto the luxury brands […]
The concept of the Unique Sales Proposition (USP) has been enshrined in marketing and sales circles for decades. Advanced by advertising executive Rosser Reeves in the late 1940s and 50s and then introduced into the lexicon in his 1961 book Reality in Advertising, he called on brands to extend their product advertising from product features to […]
LVMH CEO Bernard Arnault opened the 2022 year-end earnings call with a simple statement that summed the year’s accomplishments in a nutshell: “I want to say once again, at the risk of tiring you, record results for the Group LMVH. We achieved just over €79 billion ($86 billion) in revenue, just over €21 billion ($22.8 […]
The personal luxury goods market boomed in 2022, reaching an unprecedented $383 billion, up 26% from 2019 and 22% from 2021 at current exchange rates, according to Bain-Altagamma Luxury Study. Much of the growth came from its two largest markets, The Americas ($123 billion and up 25%) and Europe ($102 billion, up 27%). However, China, […]
Over the last three years, the luxury market has experienced a whirlwind of change. In the lead-up to the pandemic, the personal luxury goods market grew 7 percent in 2019, reaching $300 billion globally. Then in 2020, it suffered a sharp decline, dropping an unprecedented 22 percent to $235 billion, followed by a remarkable rebound […]
Speaker, author, and market researcher Pamela N. Danziger is internationally recognized for her expertise on the world’s most influential consumers: the American Affluent. As founder of Unity Marketing, Pam leads with research to provide brands with actionable insights into the minds of their most profitable customers.
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