Wednesday, May 09, 2012

Brilliant report about the status and trends in the luxury market

Bain & Company and Fondazione Altagamma have just published a superb report Worldwide Luxury Markets Monitor Spring 2012 Update about the global luxury market.

Why is it superb? It is beautiful illustrated; it contains exceptionally high value thinking and concepts and it tells, in a few slides what is going on in the world today - not just about luxuries.

The above image tells the story of where the luxury market is heading. Ageing in Europe, US and Japan - younger in urban Asia.

The main message is that top end luxuries are selling better than ever. There is a wall of money out there that wants, and can afford to pay for, the very best.

Compare this buoyant outlook with the latest report from Visa about consumer spending in the UK.

Look you marketers, if you haven't yet figured out the ultra-fragmentation that is going on in the markets of Europe and the US and taken actions to exploit the opportunities it generates and to protect yourself from the horrible problems it creates  then you are way behind the curve.

How does the age of consumers figure in all of this. Answer, a disproportional number of those at the affluent end of the spectrum are older rather than younger. Dick Stroud

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