The Millennials you NEED to know
For the foreseeable future, millennial HENRYs (High Earners Not Rich Yet) will be the consumers that every brand manager, marketer and retail executive will need to know well. This subset of the largest generation of Americans, earns between $100K and $250K–the income cohort that accounts for 40 percent of all household spending. Most important however, these are the consumers who are on track to become the ultra-wealthy ($250K +) of the future.
In this forward-looking book, retail expert Pam Danziger examines trends and profiles emerging disruptive brands that millennial HENRYs are drawn to, and she explains how many of these innovative brands are setting themselves apart from the traditional top-tier luxury brands.
Danziger also takes you on a deep-dive into the steps the smartest of the traditional luxury brands and retailers are taking to keep up with a new generation of consumers who are anything but traditional in their approach to luxury spending.
The most exciting new consumer brands – like Shinola and Canada Goose – aren’t just winning with Millennials, but by resonating with HENRY’s. In Meet The HENRYs, Danziger shines a light on this overlooked consumer that needs to be top-of-mind of every brand marketer. – Dave Knox, Marketing & Innovation Consultant, Author of Predicting The Turn
Learn about approaches to Luxury that resonate with Millennial HENRYs
For the foreseeable future, millennial HENRYs (High Earners Not Rich Yet) will be the consumers that every brand manager, marketer and retail executive will need to know well. In her forward-looking book, retail expert Pam Danziger examines trends and profiles emerging disruptive brands that millennial HENRYs are drawn to, and she explains how many of these innovative brands are setting themselves apart from the traditional top-tier luxury brands.
Practical Advice that You Can Use
In addition to explaining why HENRYs are the customers to watch and learn from, Danziger reveals 15 qualities and types of luxury that appeal to these younger trend-setting HENRY shoppers and gives examples of products and brands that have tuned into these new approaches to luxury.
Here are THREE to consider:
- Luxury of Performance — TAG Heuer watch advertising has a new branding tagline, “Don’t Crack Under Pressure,” and its alignment with youth-skewing celebrity icons, like Super Bowl champ Tom Brady, super-model Cara Delevingne, and tennis star Maria Sharapova, are intended to resonate with HENRYs. TAG Heuer recognizes that today’s HENRY women, as well as men, appreciate the high-performance promise that is a foundation of the brand.
- Luxury of Simplicity — Personal care and beauty brand Kiehl’s sells simplicity itself – simple product, simple ingredients, simple packaging – and extraordinary results. It’s prominent “since 1851” heritage says a brand that has been around that long must be doing it right. Kiehl’s simplifies its packaging and presentation elegantly. Simplicity is hard to do, but beautiful to behold when it is achieved. “Less is more” becomes the guide to creating simple, elegant brands and brand stories.
- Anti-Status Luxury — As a brand, Jeep defines its promise as “Vehicles enabling life’s extraordinary journeys.” It explains its goal to: “Provide vehicles that support a lifestyle of boundless freedom, responsible adventure, and are reliable, safe, fun and environmentally friendly.” Jeep is an experiential brand that most especially takes its owners outdoors, rather than to the grocery store or mall.
In addition to the many examples of how innovative break-through brands are tapping into these values in response to this new generation’s thirst for luxury products and experiences, this road map to the future of the luxury market will leave you with SIX transformative approaches to brand positioning that will help you create a brand that HENRYs love.
(272 pages, paperback, ISBN 978-194168-858-8; December 2018)