March 19, 2008 -
PRLog -- With the slowdown in the American economy, the average consumer is naturally cutting back on shopping. Conventional wisdom holds that the affluent market is unaffected by economic ups and downs, but the President of Unity Marketing, Pam Danziger, sees things a bit differently:
“Today the affluent consumer market is far more diverse and stratified than it historically ever has been. That means luxury marketers need to understand the segments within their target market and develop marketing strategies that clearly differentiate the priorities and passions of these different types of luxury consumers.”
Danziger notes that there are pockets of opportunity in the current luxury market. American luxury consumers, for example, will choose to spend their money on domestic travels rather than foreign travel this year. In order to evade inflationary trends, they will also indulge in opportunistic buying of imported and higher-priced luxury goods. These consumers can also be expected to buy investment properties.
Danziger believes that the jewelry sector will benefit from these opportunistic purchases. Jewelry is a unique luxury product because it offers the buyer perceived inherent value. Jewelry consumers will make their purchases sooner rather than later in order to avoid further inflation.
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