Not more things, but more life-changing experiences, says luxury marketing expert Pam Danziger
Some call it 'inconspicuous consumption,' the counter-trend of conspicuous consumption where people buy to impress others and proclaim their socioeconomic status. By contrast, today's high-net worth consumers don't want or need status symbols or designer goods to impress anyone. Rather true luxury living in America is about who you are, your values and what you do — not about what you have or own.
The luxury market today is going experiential with consumers spending more on travel, dining, spas, resorts, entertainment, home services and other experiences, and less on traditional luxury goods. While high-net worth consumers live very comfortable and materially-enriched lives, their luxury spending is directed less toward ostentation and materialism and more toward a search for meaning and emotional fulfillment.
Find out more about the 'inconspicuous consumption' trend when Pam Danziger appears on CNBC's High Net Worth program this weekend. She will share results from Unity Marketing research about how the high-net worth consumers are shifting their spending from material goods toward living the good life experientially. The show is broadcast Saturday and Sunday at 6 a.m. and repeated Sunday at 8 p.m. and 11 p.m. Eastern time.
Contact: Pam Danziger, [email protected] or call 717-336-1600.
Some call it 'inconspicuous consumption,' the counter-trend of conspicuous consumption where people buy to impress others and proclaim their socioeconomic status. By contrast, today's high-net worth consumers don't want or need status symbols or designer goods to impress anyone. Rather true luxury living in America is about who you are, your values and what you do — not about what you have or own.
The luxury market today is going experiential with consumers spending more on travel, dining, spas, resorts, entertainment, home services and other experiences, and less on traditional luxury goods. While high-net worth consumers live very comfortable and materially-enriched lives, their luxury spending is directed less toward ostentation and materialism and more toward a search for meaning and emotional fulfillment.
Find out more about the 'inconspicuous consumption' trend when Pam Danziger appears on CNBC's High Net Worth program this weekend. She will share results from Unity Marketing research about how the high-net worth consumers are shifting their spending from material goods toward living the good life experientially. The show is broadcast Saturday and Sunday at 6 a.m. and repeated Sunday at 8 p.m. and 11 p.m. Eastern time.
Contact: Pam Danziger, [email protected] or call 717-336-1600.