There's a new customer segment to target: Slackers. In early May, the results of the Second Annual American Express Platinum Luxury Survey were announced. The biggest surprise that emerged was that, for the first time ever, Generation X is spending substantially more on luxury purchases than their Baby Boomer counterparts. That's right: Members of the MTV-era "slacker" generation are outspending Boomers by roughly 18% in multiple luxury categories, in excess of $4,000 for households included in the survey. Now that Gen X is reaching the peak of their professional lives - they're between 35 and 46 today - many are ...
The charity auction season is in full swing. Over the next few months, there will thousands of galas and fundraising parties all over the country. With those events comes a demand on affluent Americans to make financial contributions to a growing number of worthy causes. If you are planning a charity event, the best way to raise the most money possible is to be sure you have items on the auction block that are proven to be winners with your affluent audience.
Many ethnic groups, such as African-Americans and Hispanics, tend to be under-represented among the Affluent (who I'll define as adults living in households with at least $100,000 in annual household income). For example, the Census Bureau's 2011 Current Population Survey shows that Hispanics are 14% of the general population, but just 9% of the Affluent population. Similarly, those describing themselves as Black or African-American are 12% of the general population, but just 7% of the Affluent population.
According to "Women's Wear Daily," Herms lost its appeal to the China Trademark Appeal Board in February. According to state media, Herms failed in its attempt to register the Chinese version of its name, Ai Ma Shi in pinyin, because a Chinese company, the Dafeng Garment Co. of Guangdong, had already done so. Apparently, Chinese speakers refer to Herms by that name and Herms argued that therefore they should be allowed to register it, but the trademark board disagreed. These two cases are bringing to light the growing intricacies of branding in the Chinese market.