Breaking News

Consumers Spending More On High-End Indulgences

June 11, 2007

Recent studies show that people are indulging in more luxuries like fragrance, cosmetics and/or beauty products and skin care regimes. According to Unity Marketing, consumers’ confidence rebounded in the first quarter of 2007, rising two points to reach 100.2, up from its lowest level in 2006 at the close of the fourth quarter. Luxury consumers spent on average $14,024 on luxury goods and services, an increase of 8 % over the average amount spent in the fourth quarter 2006. These findings are based upon Unity Marketing’s Luxury Tracking survey of 1,003 affluent consumers conducted at the close of the first quarter 2007 with an average income $159,000 and average age 46.4 years. Nearly 80 percent of all affluent consumers surveyed —- and an even higher percentage of the super-affluents with household incomes of $150,000 or more — were found to be members of one or more programs and were asked to what extent their membership influences the brand choices they make. The answers provide a powerful reason for luxury marketers in all sectors to evaluate a loyalty program for their best customers. Not only do rewards programs encourage the affluent to buy brands again and again, members of loyalty programs also spent in excess of 50 % more on luxury in the study period.

  • Patent Activity: Colgate-Palmolive

    Patent Activity: Colgate-Palmolive

    December 6, 2016
    New oral care compositions, the use of radish root ferment filtrate in a cleanser and more.

  • Sparkle & Shine

    Sparkle & Shine

    Melissa Meisel, Associate Editor||November 21, 2016
    Glam packaging and upscale scent combos are big at Yankee Candle for Holiday 2016.

  • Cos Bar: Turning 40 and Hitting Fast Forward

    Cos Bar: Turning 40 and Hitting Fast Forward

    Christine Esposito, Associate Editor||November 21, 2016
    With a recent investor infusion, a new CEO and rebranding effort underway, this luxury beauty retailer has big plans.

  • Slow & Steady

    Slow & Steady

    Tom Branna, Editorial Director||December 1, 2016
    In a tumultuous environment, steady gains posted in the industrial and institutional cleaning sector are welcomed.

  • The World Comes to Orlando

    The World Comes to Orlando

    Tom Branna, Editorial Director||December 1, 2016
    More than 1,600 chemists traveled to Florida for the IFSCC Congress

  • The Plex  Phenomenon

    The Plex Phenomenon

    Denise Costrini, Croda North America||December 1, 2016
    Croda details the hair-protecting qualities of bond multipliers and the company’s new bond-building formulation system.