Breaking News

‘NEW LUXURY’

November 14, 2005

● As the overall U.S. economy grew modestly during the first half of 2003, sales from “new luxury” players,
whose high-quality products are targeted to middle-market consumers but cost more than traditional
items, rose 18%, according to new research from The Boston Consulting Group (BCG).
“This new research reinforces that it’s the American consumer’s increasing desire, and willingness
to pay more for quality and something special that provides continued buoyancy for the economy,”
said Michael J. Silverstein, BCG partner. New luxury has already delivered $400 billion in
total revenue. Some new luxury companies include JetBlue Airways, Coach, Starbucks, The
Cheesecake Factory, Restoration Hardware and Bed Bath & Beyond.
“Consumers’ desire for this kind of quality and emotional reinforcement through goods is the
result of demographic and cultural shifts—rising household incomes and home equity, high divorce
rates, the changing role of women and an increased awareness of ‘self,’” said Mr. Silverstein.
  • Skin of Color Society Connects Experts

    Skin of Color Society Connects Experts

    Melissa Meisel, Associate Editor||January 16, 2017
    Dermatologists from across the nation share information and ideas.

  • Erasa

    Erasa's New Evangelist(a)

    January 9, 2017
    Impressed by the performance of its hero SKU, supermodel Linda Evangelista joins the company in a hand's on role.

  • Discourse on Disclosure

    Discourse on Disclosure

    Tom Branna, Editorial Director||January 6, 2017
    Transparency impacts the cleaning industry.

  • Hitting the Right Notes

    Hitting the Right Notes

    January 6, 2017
    Agilex Fragrances is the leader in the middle market fragrance category.

  • The Smell of Clean in 2017

    The Smell of Clean in 2017

    January 6, 2017
    Changing consumer lifestyles and demographics are impacting the scents found in the household cleaning category.

  • On the Edge

    On the Edge

    January 6, 2017
    Expanding beauty brands to watch in 2017