In the past, an upgrade in status would have remained a dream or just become the reality of a few. But today, upgrading socioeconomic status is commonplace, mostly in emerging markets. In the nineteenth century, self-appointed tastemaker of New York society Ward McAllister claimed that four generations were necessary to breed a gentleman. Today, due to rapid wealth creation and accumulation, the digital revolution, and the relative ease and affordability of travel, the process of developing a level of taste that is deemed acceptable by high society has been sped up dramatically.
Luxury is relative at every level of society. While Michael Kors might be one woman’s Gap, the brand might be the ultimate splurge for another woman. What marketers, retailers, and the media tend to ignore is that very possibly describes the same woman, just in different phases of her life, geography, and socioeconomic status. "The Lure of Luxe" explores the metaphorical climb up the Luxury Consumption Pyramid, which determines how and why a client will spend. The book provides a new way to think about marketing to this elite segment, and offers best practices across a variety of marketing tactics.
Now available on Amazon.