Luxury Will Thrive with Empty-Nest Baby Boomers
l Today’s discount retail environment has forced many businesses to go as low as they can profitably go. Top luxury companies may experience a sales slow-down, but research suggests all U.S. consumers seek to satisfy their passions and desires through purchases, according to “The luxury market report 2003: who buys luxury, what they buy, why they buy” from Stevens, PA-based Unity Marketing. Unity executives said companies have three marketing options today: extending brands horizontally across a category, taking them to a lower price point or adding more value and exclusivity. This will cause generational shifts in the marketplace, due to the divergence of consumer goods and clustering high-end and budget-level products in the next few decades. Other factors include empty-nest baby boomers with freer budgets.
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