Introduction & Methodology... 18 Unity Marketing's Annual State of the Luxury Market Report... 18 The US Luxury Market Dwarfs All Others... 18 Figure 1: U.S Luxury Market Relative to Rest of World 2014 (Source: Bain & Company)... 19 More about the Luxury Report... 21 Home Luxuries... 22 Personal Luxuries... 22 Automobiles, including automobile brands... 23 Experiential Luxuries... 23 Affluent Consumer Tracking Study (ACTS) Methodology... 24 Two Segments of Affluents based upon Income Are Surveyed... 24 Compilation of Affluent Consumers Luxury & High-End Purchases... 25 New ACTS Shopper Track Survey Adds Additional Perspective on Affluent Shopping Behavior... 25 Sample Demographics... 27 Income Demographics... 27 Figure 2: Income Sample... 27 Net Worth... 29 Figure 3: Net Worth... 29 Gender... 30 Figure 4: Gender distribution... 30 Age Distribution & Cohort... 30 Figure 5: Age Distribution... 30 Luxury Marketers>> Take Action... 31 Luxury Marketers>> Get Inspired by Suitsupply... 32 Occupation & Employment... 33 Figure 6: Occupation... 33 Other Demographic Variables... 34 Figure 7: Educational Attainment... 34 Figure 8: Marital Status... 34 Figure 9: Life Stage... 35 Figure 10: Home Ownership... 35 Figure 11: Ethnicity... 36 Unity Marketing, 2015 -- DRAFT Page 2
Chapter 1 Prospects for the Future Luxury Market... 37 Overview... 37 Affluents Enjoying the Little Things in Life Resisting the Temptation to Over-Spend & Liking It... 37 Demographic Forecast: Luxury Drought... 38 Figure 12: Dent Research, Consumer Spending by Age... 38 Figure 13: LCI Historical 1Q2004-present... 40 The Consumer Economy at Large... 41 Figure 14: Personal Consumption Quarterly Change 2008-1Q15... 41 Figure 15: Personal Consumption Expenditures 1Q15 Percent. Change Previous Period, details... 43 Luxury Marketers>> Take Action as Economy Still Struggles... 44 Figure 16: GAFO Retail Sales & Percentage Change 2007-1Q2015... 45 GAFO Retail Sales in 2015... 46 Figure 17: GAFO Store Sales YTD 2015-2014... 46 Figure 18: Fastest Growing Retailers 1Q2015... 47 Luxury Marketers>> Take Action by Tapping Consumer Trends... 48 Chapter 2 Demographics of Affluence... 50 Income Defines Affluence... 50 Figure 19: U.S. Households by Income... 51 Affluent Households Growing Fastest... 52 Figure 20: Household Growth by Income... 52 Luxury Marketers>> Take Action to Define Affluents by Wealth or Income... 53 Figure 21: Average Income of Top Quintile Households... 54 Luxury Marketers>> Take Action Don t Overlook HENRYs... 55 Luxury Marketers>>Get Inspired by Millionaires... 57 Figure 22: Number of Millionaires by Country... 57 Affluents Account for 40-50% of All Personal Consumption... 58 Figure 23: Average Expenditures of Households by Income Quintile... 58 Figure 24: U.S. Household Income 2002-2011... 60 Figure 25: Affluent Average Income 2000-2013... 61 More Demographic Characteristics of Affluent Consumer Market... 62 Diversity among Affluents... 64 Figure 26: Number Affluent Households by Ethnicity... 64 Figure 27: Top 20% Income earners by Ethnicity... 64 Unity Marketing, 2015 -- DRAFT Page 3
Age of Affluence... 66 Figure 28: Income by Age... 66 Luxury Marketers>>Take Action on the Luxury Drought... 67 Figure 29: Number of Consumers in Window of Affluence... 68 Figure 30: Population Projections through 2045 for 35-44 & 45-54 year olds... 69 Luxury Marketers>> Take Action Against a Culture Hostile to Luxury Indulgence... 71 Luxury Marketers>> Take Action Get Ready for the Millennials... 72 Luxury Marketers>> Get Inspired by PANDORA... 73 Luxury Marketers>> Take Action Deliver Experiences, not more Things... 75 Figure 31: Source of Greatest Luxury Satisfactions... 75 Demographic distinctive... 77 Figure 32: Source of Greatest Luxury Satisfactions by Age... 77 Luxury Marketers>> Take Action as Purchase Motivations Change with Age... 78 Figure 33: Experiences Source of Greatest Happiness & Satisfaction by Age... 78 Chapter 3 -- Overview of Affluents Luxury Purchases & their Spending... 81 Highlights of Affluents Luxury Purchases and their Spending... 81 Figure 34: Trend in Demand for Luxury Goods & Service... 81 Luxury Spending Trends... 83 Figure 35: Trends in Total Spending on Luxury Goods & Services... 83 Figure 36: Trend in Percent Change in Luxury Spending... 84 Figure 37: Trends in Income Segment Spending... 85 Figure 38: Trends in Spending by Major Category... 86 Luxury Marketers>> Take Action... 86 What s Hot, What s Not in Luxury... 87 Figure 39: What s Hot, What's Not in Luxury as measured by change in spending year-over-year... 87 Total Luxury Purchase Incidence... 88 Figure 40: Overall Luxury Purchase Incidence (All Affluent Consumers)... 88 Luxury Goods & Services Demand... 90 Figure 41: Luxury Goods & Services Demand... 90 Luxury Consumers Average Spending on Luxuries... 92 Figure 42: Average Spending on Luxury... 92 What's Hot, What's Not in Luxury this Year compared with Last... 93 Figure 43: Major Categories by Percent Change Year-over-Year... 93 Unity Marketing, 2015 -- DRAFT Page 4
Spending by Income Segment... 94 Figure 44: Luxury Spending by Income Segments... 94 Figure 45: Comparative Spending by Income... 95 Total Spending by Age Segments... 96 Figure 46: Total Spending on Luxury by Age Segments -- Young Affluents and Mature Affluents... 96 Figure 47: Comparative Spending by Age... 97 Total Luxury Spending by Gender... 98 Figure 48: Total Spending on Luxury by Gender... 98 Figure 49: Comparative Spending by Gender... 99 Luxury Marketers>> Take Action by Meeting Your Best Customer... 99 Luxury Marketers>> Get Inspired by Suitsupply... 100 Chapter 4 -- About Luxury Consumers Favorite Shopping Destinations... 102 Highlights of Luxury Consumers' Shopping Destinations... 102 Luxury Department Stores... 102 Figure 50: Net Patronage Mass/Discount and Luxury Department Stores... 102 Figure 51: Luxury Department Store Brand Usage... 103 Mass & Discount Department Stores... 104 Figure 52: Mass/Discount Department Store Brand Usage... 104 Luxury Branded Boutiques... 105 Figure 53: Overview Luxury Fashion Boutique Brand Usage by Income... 105 Figure 54: Luxury Fashion Boutique Brand Usage Details... 106 Fashion Boutiques... 107 Figure 55: Fashion Boutique Brand Usage... 107 Cosmetics Store Brand Usage... 108 Figure 56: Cosmetics/Beauty Store Brand Usages... 108 Jewelry Stores... 109 Figure 57: Jewelry Store Brand Usage... 109 Luxury Marketers>> Get Inspired by Doyle & Doyle... 110 Home Stores... 114 Figure 58: Home Stores Brand Usage... 114 Luxury Marketers>> Get Inspired by RH... 115 Online Destinations... 117 Figure 59: Online Internet Retailer Brand Usage... 117 Unity Marketing, 2015 -- DRAFT Page 5
Luxury Marketer>> Get Inspired by West Elm... 118 Luxury Marketers>> Take Action... 120 Figure 60: Trends in Net Affluent Usage by Major Class of Store... 120 Luxury Marketers>> Get Inspired by the Rebirth of Main Street... 121 Chapter 5 -- Personal Luxury Purchases Detail... 123 Highlights of Personal Luxury Purchases... 123 Figure 61: Personal Luxuries Demand & Spending Trends... 123 Figure 62: Personal Luxury Spending and Change Previous Year... 124 Figure 63: Personal Luxury Spending by Demographic Segments... 125 Figure 64: Biggest Winners & Losers in Personal Luxury... 126 Personal Luxury Demand Details... 127 Figure 65: Personal Luxury Demand, as measured by Purchase Incidence... 127 Personal Luxuries Spending Details... 128 Figure 66: Personal Luxury Spending... 128 Personal Luxury Spending by Demographic Segments... 129 Figure 67: Personal Luxury Spending by Demographic Spending... 129 What s Hot, What's Not in the Personal Luxury Market, Details... 130 Figure 68: Top Fastest Growing Products and Biggest Losers in Personal Luxury Market... 130 Top Shopping Destinations for Personal Luxury Products... 131 Figure 69: Top Shopping Destinations for Personal Luxury Products... 131 Luxury Marketers>> Get Inspired... 132 Figure 70: U.S. Personal Consumption Fashion, 2010-2014... 132 Automobiles & Recreational Vehicles Purchase Details... 136 Figure 71: Automobile Demand & Spending Trends... 136 Amount Spent on Automobiles & Recreational Vehicles... 137 Figure 72: Automobile Spending by Demographic Segment... 137 Type of Luxury Automobile Bought... 137 Figure 73: Type of Luxury Automobile... 137 Country of Origin... 138 Figure 74: Country of Origin... 138 Luxury Automobile Brand Usage... 139 Figure 75: Luxury Automobile Brand Usage... 139 Luxury Marketers>>Get Inspired by What Lincoln Did Wrong & KIA Did Right... 139 Unity Marketing, 2015 -- DRAFT Page 6
Clothing & Apparel Purchase Details... 141 Figure 76: Clothing & Apparel Demand & Spending Trends... 141 Amount Spent on Clothing & Apparel... 142 Figure 77: Clothing and Apparel Spending by Demographic Segment... 142 Type of Clothing & Apparel Bought... 143 Figure 78: Estimated Spending on Luxury Clothing & Apparel... 143 View of Women's Clothing Items Bought... 144 Figure 79: Detail of Women's Clothing Items Bought... 144 Where People Shopped for Luxury Clothing & Apparel... 145 Figure 80: Estimated Spending on Luxury Clothing & Apparel by Type of Store... 145 Clothing & Apparel Brand Usage... 146 Figure 81: Clothing & Apparel Brand Usage... 147 Luxury Marketers>> Get Inspired by Project Gravitas... 148 Luxury Marketers>> Get Inspired by J. Crew... 149 Fashion Accessories Purchase Details... 151 Figure 82: Fashion Accessories Demand & Spending Trend... 151 Amount Spent on Fashion Accessories... 152 Figure 83: Fashion Accessories Spending by Demographic Segment... 152 Type of Fashion Accessories Bought... 153 Figure 84: Estimated Spending on Luxury Fashion Accessories... 153 Where People Shopped for Luxury Fashion Accessories... 154 Figure 85: Estimated Spending on Fashion Accessories by Type of Store... 154 Luxury Marketers>> Get Inspired by FarFetched.com... 155 Luxury Fashion Accessories Brand Usage... 156 Figure 86: Fashion Accessories Brand Usage... 157 Sun Glasses Brand Usage... 158 Figure 87: Sun Glass Brand Purchase... 158 Luxury Marketers>> Get Inspired by Luxottica and Safilo... 159 Fragrance, Cosmetics, and/or Beauty Products Purchase Details... 160 Figure 88: Fragrances & Beauty Demand & Spending Trends... 160 Amount Spent on Fragrance, Cosmetics and/or Beauty Products... 161 Figure 89: Fragrance, Beauty, Cosmetic Spending by Demographic Segment... 161 Type of Fragrance, Cosmetics and/or Beauty Products Bought... 162 Unity Marketing, 2015 -- DRAFT Page 7
Figure 90: Estimated Spending on Luxury Cosmetics and Beauty Products... 162 Where People Shopped for Luxury Fragrance, Cosmetics and/or Beauty Products... 163 Figure 91: Estimated Spending on Luxury Beauty by Type of Store... 163 Cosmetics, Beauty Products, Fragrances Brand Usage... 164 Figure 92: Premium/Luxury Beauty Brands Purchase Incidence... 164 Figure 93: Mass Beauty Brands Purchase Incidence... 165 Figure 94: Any Prestige or Mass Beauty Brand Purchase... 166 Luxury Marketers>> Get Inspired by L Oreal and the new age of beauty... 166 Luxury Marketers>> Get Inspired by Bluemercury & Macy s... 168 Wine & Spirits Purchase Details... 171 Figure 95: Wine & Spirits Demand & Spending Trends... 171 Amount Spent on Wine & Spirits... 172 Figure 96: Wine & Spirit Spending by Demographic Segment... 172 Luxury Marketers>>Get Inspired by Young Affluent Wine Consumers... 172 Type of Wine & Spirits Bought... 174 Figure 97: Estimated Spending on Luxury Wine & Spirits by Product Type... 174 Where People Shopped for Wine & Spirits... 175 Figure 98: Estimated Spending on Luxury Wine & Spirits by Type of Store... 175 Wine Brand Usage... 176 Figure 99: Wine Brand Purchase Incidence... 176 Tequila Brand Usage... 177 Figure 100: Tequila Brand Purchase Incidence... 177 Vodka Brand Usage... 177 Figure 101: Vodka Brand Purchase Incidence... 177 Scotch/Malt Brand Usage... 178 Figure 102: Scotch/Malt Brand Purchase Incidence... 178 Rum Brand Usage... 178 Figure 103: Rum Brand Purchase Incidence... 178 Gin Brand Usage... 179 Figure 104: Gin Brand Purchase Incidence... 179 Champagne Brand Usage... 179 Figure 105: Champagne Brand Purchase Incidence... 179 Whiskey/Bourbon Brand Usage... 180 Unity Marketing, 2015 -- DRAFT Page 8
Figure 106: Whiskey/Bourbon Brand Purchase Incidence... 180 Luxury Marketers>> Get Inspired by Maker s Mark... 180 Cognac/Brandy Brand Usage... 182 Figure 107: Cognac/Brandy Brand Purchase Incidence... 182 Wine Club Membership... 183 Figure 108: Wine club membership... 183 Club Member Trends in Purchase... 183 Figure 109: Trends in Wine Club Brand Purchases... 183 Jewelry Purchase Details... 184 Figure 110: Jewelry Demand & Spending Trends... 184 Amount Spent on Jewelry... 185 Figure 111: Jewelry Spending by Demographic Segment... 185 Type of Jewelry Bought... 186 Figure 112: Estimated Spending on Women's & Men's Jewelry... 186 Type of Women s Jewelry Bought... 186 Figure 113: Estimated Spending on Women's Jewelry by Product Type... 186 Women's Material of Composition... 187 Figure 114: Estimated Spending on Women's Jewelry by Material... 187 Figure 115: Estimated Sales of Women's Jewelry by Gemstone... 187 Type of Men s Jewelry Bought... 188 Figure 116: Type of Men's Jewelry Bought... 188 Men's Material of Composition... 189 Figure 117: Men's Jewelry: Material of Composition... 189 Where People Shopped for Jewelry... 190 Figure 118: Estimated Spending on Jewelry by Type of Store... 190 Luxury Marketers>> Get Inspired by Blue Nile... 190 Figure 119: U.S. Marriage Rates, 1999-2012... 191 Jewelry Brand Usage... 194 Figure 120: Jewelry Brand Usage... 194 Luxury Marketers>> Get Inspired by ALEX AND ANI... 195 Watches Purchase Details... 197 Figure 121: Watches Demand & Spending Trends... 197 Amount Spent on Watches... 198 Unity Marketing, 2015 -- DRAFT Page 9
Figure 122: Watches Spending by Demographic Segment... 198 Type of Watches Bought... 199 Figure 123: Estimated Sales of Watches by Type... 199 Material of Composition Formal/Dress Watches... 200 Figure 124: Material of Composition Formal/Dress Watches... 200 Where People Shopped for Luxury Watches... 201 Figure 125: Estimated Spending on Watches by Type of Store... 201 Watches Brand Usage... 202 Figure 126: Watch Brand Usage... 202 Luxury Marketers>> Get Inspired by Apple... 203 Luxury Has a Brand-New Style, and Apple Gets It... 203 Personal Electronics Purchase Details... 206 Figure 127: Personal Electronics Demand & Spending Trends... 206 Amount Spent on Personal Electronics... 207 Figure 128: Personal Electronics Spending by Demographic Segment... 207 Type of Personal Electronics Bought... 208 Figure 129: Estimated Sales of Personal Electronics by Type... 208 Where People Shopped for Luxury Personal Electronics... 209 Figure 130: Estimated Spending on Personal Electronics by Type of Store... 209 Chapter 6-- Experiential Luxury Purchases Detail... 210 Highlights of Experiential Luxury Purchases... 210 Figure 131: Experiential Luxury Demand & Average Spending Trends 2008-2013... 210 Figure 132: Experiential Luxuries Spending & Percentage Change... 211 Figure 133: Experiential Luxury Spending by Demographic Segment... 211 Luxury Experiences Demand... 212 Figure 134: Experiential Purchase Incidence... 212 Luxury Dining Purchase Details... 213 Figure 135: Fine Dining Demand & Spending Trends... 213 Amount Spent on Luxury Dining... 214 Figure 136: Fine Dining Spending by Demographic Segment... 214 Type of Dining Experience... 215 Figure 137: Type of Dining Experience... 215 Fine Dining Brand Purchase... 216 Unity Marketing, 2015 -- DRAFT Page 10
Figure 138: Multi-Chain Restaurants Brand Preference... 216 Celebrity Chef Brand Purchase... 217 Figure 139: Celebrity Chef Brand Preference... 217 Luxury Salon, Spa, Massage and Beauty Treatment Purchase Details... 218 Figure 140: Spa/Salon Demand & Spending Trends... 218 Amount Spent on Luxury Spa, Massage and Beauty Treatment... 219 Figure 141: Spa, Massage, Beauty Services Spending by Demographic Segment... 219 Type of Spa, Massage, Beauty Treatment Services Purchased... 220 Figure 142: Type of Spa, Beauty Services Bought... 220 Luxury Physician Services Purchase Details... 221 Figure 143: Physician Services Demand & Spending Trends... 221 Amount Spent on Luxury Physician Services... 222 Figure 144: Spa, Massage, Beauty Services Spending by Demographic Segment... 222 Type of Physician Services Purchased... 223 Figure 145: Type of Physician Services... 223 Luxury Travel Purchase Details... 224 Figure 146: Luxury Travel Demand and Spending Trends... 224 Amount Spent on Luxury Travel... 225 Figure 147: Travel Spending by Demographic Segment... 225 Type of Travel Overview... 225 Figure 148: Type of Travel Overview: Domestic, Foreign or Both... 225 How They Traveled to Foreign Destinations... 226 Figure 149: How They Traveled to Foreign Destinations... 226 Where They Stayed at Foreign Destinations... 227 Figure 150: Where They Stayed in Foreign Destinations... 227 Special Foreign Travel Experiences... 228 Figure 151: Special Foreign Travel Experiences... 228 How They Traveled to Domestic Destinations... 228 Figure 152: How They Traveled to Domestic Destinations... 228 Where They Stayed in Domestic Destinations... 229 Figure 153: Where They Stayed in Domestic Destinations... 229 Special Domestic Travel Experiences... 230 Figure 154: Special Domestic Travel Experiences... 230 Unity Marketing, 2015 -- DRAFT Page 11
Trends in Attitudes toward Luxury Travel... 231 Figure 155: Luxury Travelers Attitudes Summary... 231 Figure 156: Attitudes about Luxury Travel.... 233 Luxury Hotel Brand Preferences... 234 Figure 157: Luxury Hotel Brand Purchases... 234 Luxury Cruise Brand Preferences... 235 Figure 158: Luxury Cruise Brand Purchase... 235 Luxury Marketers>> Get Inspired by Ritz Carlton... 236 Chapter 7 Home Luxury Purchase Detail... 237 Highlights of Home Luxury Purchases... 237 Figure 159: Home Luxury Demand & Spending Trends... 237 Home Luxury Demand Details... 238 Figure 160 Home Luxury Purchase Incidence... 238 Home Luxury Spending... 239 Figure 161: Home Luxury Spending... 239 Home Luxury Spending by Demographic Segments... 240 Figure 162: Total Home Luxury Spending by Demographic Segments... 240 What s Hot, What's Not in the Home Luxury Market... 241 Figure 163 : Top Ten Fastest Growing Products and Biggest Losers in Home Luxury,2011-2012... 241 Top Shopping Destinations for Home Luxury Products... 242 Figure 164: Top Shopping Destinations Home Luxury Products... 243 Art & Antiques Purchase Details... 244 Figure 165: Art & Antiques Demand & Spending Trends... 244 Amount Spent on Art & Antiques... 245 Figure 166: Art & Antique Spending by Demographic Segment,2010-2012... 245 Type of Art and Antiques Bought... 246 Figure 167: Estimated Spending on Luxury Art & Antique Products... 246 Where People Shopped for Luxury Art & Antiques... 247 Figure 168: Estimated Spending on Luxury Art & Antiques by Type of Store... 247 Luxury Marketers>> Get Inspired by Zatista... 247 Luxury Marketers>> Get Inspired by Amazon... 249 Luxury Marketers>> Get Inspired by an Art Gallery that POPS! DeBruyne s in Naples, Florida... 249 Furniture, Lamps & Floor Coverings Purchase Details... 252 Unity Marketing, 2015 -- DRAFT Page 12
Figure 169: Furniture, Lamps & Floor Coverings Demand & Spending Trends... 252 Amount Spent on Furniture, Lamps and Floor Coverings... 253 Figure 170: Furniture, Lamps and Floor Covering Spending by Demographic Segment... 253 Luxury Marketers: Get Inspired by the Affluents... 253 For Home Furnishings Marketers New Research Reveals How to Grow Your Business by Targeting the Top 20%... 253 Type of Furniture, Lamps & Floor Coverings Bought... 255 Figure 171: Estimated Spending on Luxury Furniture, Lamps and Floor Coverings Products... 255 Where People Shopped for Luxury Furniture, Lamps and Floor Coverings... 256 Figure 172: Estimated Spending on Luxury Furniture, Lamp and Floor Coverings by Type of Store... 256 Luxury Marketers>> Get Inspired by Restoration Hardware... 257 Luxury Marketers>> Get Inspired by Furniture Brands International... 258 Luxury Marketers>> Get Inspired by West Elm & Etsy... 259 How West Elm is partnering with Etsy to create a local community feel... 259 Garden, Outdoor, Lawn & Patio Products Purchase Details... 261 Figure 173: Garden/Outdoor Demand & Spending Trends... 261 Amount Spent on Garden... 262 Figure 174: Garden/Outdoor Spending by Demographic Segment... 262 Type of Garden/Outdoor Lawn & Patio Products Bought... 263 Figure 175: Estimated Spending on Luxury Outdoor/Garden by Products... 263 Where People Shopped for Luxury Garden, Outdoor, Lawn, & Patio Products... 264 Figure 176: Estimated Spending on Luxury Outdoor & Garden by Type of Store... 264 Home Electronics Purchase Details... 265 Figure 177: Home Electronics Demand & Spending Trends... 265 Amount Spent on Luxury Home Electronics... 266 Figure 178: Electronics Spending by Demographic Segment... 266 Type of Home Electronics Bought... 267 Figure 179: Estimated Spending on Luxury Electronics Products... 267 Where People Shopped for Luxury Home Electronics... 268 Figure 180: Estimated Spending on Luxury Electronics by Type of Store... 268 Kitchenware, Cookware & Cooks Tools Purchase Detail... 269 Figure 181: Kitchenware/Cooks' Tools Demand & Spending Trends... 269 Amount Spent on Kitchenware, Cookware & Housewares... 270 Unity Marketing, 2015 -- DRAFT Page 13
Figure 182: Kitchenware, Housewares Spending by Demographic Segment... 270 Type of Kitchenware, Cookware & Housewares Bought... 271 Figure 183: Estimated Spending on Luxury Kitchenware, Housewares by Product... 271 Where People Shopped for Luxury Kitchenware, Cookware, Housewares... 272 Figure 184: Estimated Spending on Kitchenware, Housewares by Type of Store... 272 Linens, Fabrics & Soft Goods Purchase Details... 273 Figure 185: Linens, Fabrics & Soft Goods Demand & Spending Trends... 273 Amount Spent on Linens, Fabrics & Soft Goods... 274 Figure 186: Linens, Fabrics & Soft Goods Spending by Demographic Segment... 274 Type of Linens, Fabrics & Soft Goods Bought... 275 Figure 187: Estimated Spending on Luxury Linens, Fabrics & Soft Goods... 275 Where People Shopped for Luxury Linens, Fabrics & Soft Goods... 276 Figure 188: Estimated Spending on Linens, Fabrics & Soft Goods by Type of Store... 276 Linen Brand Usage... 277 Figure 189: Linen Brand Usage... 277 Luxury Marketers>> Get Inspired by Parachute and Boll & Branch... 277 Major Home Appliances, Bath Fixtures, Window Coverings & Building Products Purchase Details... 279 Figure 190: Major Home Appliances & Building Products Demand & Spending Trends... 279 Amount Spent on Major Appliances, Bath, and Building Products... 280 Figure 191: Major Appliances, Bath & Building Products Spending by Demographic Segment... 280 Type of Major Home Appliances, Bath and Building Products Bought... 281 Figure 192: Estimated Spending on Luxury Major Home Appliances, Bath and Building Products... 281 Where People Shopped for Major Home Appliances, Bath and Building Products... 282 Figure 193: Estimated Spending on Major Home Appliances, Building and Bath Products by Type of Store282 Major Appliance Brand Usage... 283 Figure 194: Major Appliance Brand Purchase... 283 Mattresses & Sleep Systems Purchase Details... 284 Figure 195: Mattress & Sleep Systems Demand & Spending Trends... 284 Amount Spent on Mattresses & Sleep Systems... 285 Figure 196: Spending on Mattresses & Sleep Systems by Demographic Segment... 285 Type of Mattresses & Sleep Systems Bought... 286 Figure 197: Estimated Spending on Types of Mattress & Sleep Systems... 286 Where People Shopped for Luxury Mattresses & Sleep Systems... 287 Unity Marketing, 2015 -- DRAFT Page 14
Figure 198: Estimated Spending on Mattresses & Sleep Systems by Type of Store... 287 Mattress Brand Usage... 288 Figure 199: Mattress Brand Usage... 288 Luxury Marketers>> Get Inspired by Saatva... 288 Tabletop, Dinnerware, Flatware, Servingware Purchase Details... 291 Figure 200: Tabletop Demand & Spending Trends... 291 Amount Spent on Tabletop... 292 Figure 201: Tabletop Spending by Demographic Segment... 292 Type of Tabletop Purchased... 293 Figure 202: Estimated Spending on Luxury Tabletop Products... 293 Where People Shopped for Luxury Tabletop Products... 294 Figure 203: Estimated Spending on Tabletop by Type of Store... 294 Tabletop Brand Usage... 295 Figure 204: Tabletop Brand Usage... 295 Luxury Marketers>> Get Inspired & Appeal to Luxury Customers... 296 Marketing to the Affluent: Why a One-Size-Fits-All Luxury Marketing Strategy Will NEVER Work!... 296 Chapter 8 What Luxury Means... 301 Which Categories of Purchase Give Affluents the Greatest Thrill... 301 Words that Describe Luxury... 303 Figure 205: Words that Describe Luxury... 303 What Luxury Means by Segments... 304 Figure 206: What Luxury Means to Men & Women, Index... 304 Figure 207: What Luxury Means to Young & Mature Affluents, Index... 306 Luxury Marketers>> Take Action... 308 Luxury as Defined by Ultra-affluents & HENRYs... 309 Figure 208: What Luxury Means to Ultra-Affluents & HENRYs, Index... 309 Luxury Marketers>> Get Inspired by J.W. Hulme... 311 Luxury Marketers>> Take Action... 313 Which Luxury Purchases Deliver the Most Enjoyment... 314 Segments that Get the Least Enjoyment... 316 Luxury Marketers>> Take Action... 317 Chapter 9 -- Personalities of Luxury... 318 Luxury Marketers: Meet Your Customers... 318 Unity Marketing, 2015 -- DRAFT Page 15
Figure 209: Five Personalities of Luxury... 318 Trends in Distribution in the Market of the Luxury Personalities... 320 Figure 210: Trends in Distribution of Luxury Personlaities, 2009-2014... 320 New Luxury Consumer Personality Emerged in 2007 and Remains a Force in the Current Market... 320 Demographics of the Luxury Personalities... 322 Figure 211: Demographics of the Luxury Personalities... 322 Meet the X-Fluents... 323 Meet the Aspirers... 323 Meet the Cocooners... 324 Meet the Butterflies... 324 Meet the Temperate Pragmatists... 325 Personalities' Attitudes toward Luxury... 326 Figure 212: Attitudes about Luxury by Personality Segment... 328 Five Personalities & the Cars They Drive... 329 Five Personalities and the Hotels Where They Stay... 329 Personalities & Their Spending on Luxury... 331 Figure 213: Luxury Personalities & Their Spending on Luxury... 331 How the Personalities Define Luxury... 332 Figure 214: Definition of Luxury by Personality Type... 332 Figure 215: Index to How Luxury Personlities Define Luxury... 335 How to Sell to the Different Luxury Personalities... 336 Selling to X-Fluents... 336 Selling to Aspirers... 338 Selling to Butterflies... 339 Selling to Cocooners... 340 Selling to Temperate Pragmatists... 341 Final Thoughts: Use the L-Word with Caution... 343 Appendix A: About Affluent Consumers Attitudes toward their Finances & the Economy... 345 Highlights of Affluent Consumers Attitudes toward Finances... 345 Figure 216: Five Key Financial Measures (Much/Somewhat Better)... 345 Luxury Consumers Feelings of Financial Well-Being... 346 Figure 217: Financial Well Being... 346 Luxury Consumers Confidence in Financial Health of the Country... 347 Unity Marketing, 2015 -- DRAFT Page 16
Figure 218: Overall Financial Health of Country... 347 Luxury Consumers Financial Prospects... 348 Figure 219: Financial Prospects Next Twelve Months... 348 Luxury Consumers and Reported Spending Trends... 349 Figure 220: Luxury Spending Trends Past Twelve Months... 349 Luxury Consumers and Their Spending Expectations... 350 Figure 221: Expected Spending on Luxury Next 12 Months... 350 Luxury Consumers Feelings of Financial Well-Being... 351 Figure 222: Feelings of Financial Well-Being... 351 Confidence in Financial Health of Country... 352 Figure 223: Financial Health of the Country... 352 Financial Prospects in Next Twelve Months... 352 Figure 224: Financial Prospects Next Twelve Months... 352 Spending Trends on Luxury in Past Twelve Months... 354 Figure 225: Trends on Spending on Luxury in the Past Twelve Months... 354 Luxury Consumers' Future Spending Expectation... 354 Figure 226: Trends in Spending on Luxury in the Coming Twelve Months... 355 Let Unity Marketing Be Your Research Partner... 356 Unity Marketing, 2015 -- DRAFT Page 17