(Atlanta, Georgia) Mosnar Communications, Inc public relations firm focused on providing high end luxury PR and global marketing services announced today that the luxury industry economy is still very strong. Revealing that in a consumer market research study; consumers still desire luxury experiences. In addition, uncovering that consumers have varies perceptions of what they consider luxury to be.
“Consumers really desire a craving for luxury ambiances and are drawn to the VIP experience;” Stated CR Cataunya Ransom Cofounder of Mosnar Communications, Inc. “To capture in on these audiences marketers will have to learn how to create a demand for luxury in variations.”
The firm conducted a consumer market research study and contacted 1500 consumers by phone and email. Participants in the study all lived in major cities such as Atlanta, Chicago, Miami, New York, Las Vegas and Los Angeles. They contacted 250 consumers from each city to gather information on luxury services, products, and events. Overall the research study revealed that the perception of luxury varied often times by cities and states. A contrast comparison analysis demonstrated that the costs of living in each city and state could very well influence luxury perception. However, the majority ruled that overall 86% of consumers in these cities and states had a demand for luxury goods.
In a Google® search a request for luxury turned up 116,000,000 web results. Additionally, luxury homes sales are becoming a strong driving force fueling the luxury economy. While traditional homes sales are generally down across the nation and country; high end million dollars and up luxury sales are actually thriving. Re/Max® one of the country’s largest real estate firms revealed they studied 16 markets in Canada and found sales activity rising anywhere from 13% to 521% for high end luxury property. Moreover, while RealtyTrac® released metro Atlanta, Georgia served as a top contributor for foreclosures. According to the FMLS the First Multiple Listing Service in Atlanta, Georgia; single family home sales slipped to 28.5% in May, also stressed was the number of $1 million dollar plus homes sales went up two percent. Reporting that market share of $1 million and up homes sales jumped 42.9% compared to a year ago.
