The Luxury Institute released a report this week that identifies women not only as household CEOs, but also as contributing significantly to the household income. In fact, 41% of women included in the survey were the family breadwinners, contributing more than 50% of the household income. Despite the fact that these educated women are earning six-figure salaries, their top priority, per the survey, is still family.
In Selling to the New Elite, I devoted a chapter to the history of luxury, and argued that luxury is essentially a cultural universal, having existed in every culture and time period, but manifesting itself differently across time and place. Even in cultures not known for materialism, there are special objects and experiences that are highly valued precisely because they are special. In every culture there are objects that are beautiful, artistic, exquisite and sublime; there are experiences which are rare and memorable. In both cases, one who appreciates the luxury is emotionally uplifted by the pride and passion inherent ...
The common assumption is that mobile refers to both smartphones and tablets, thus insinuating that each device is similar to the other. There are similarities, of course, as both devices are portable, personally customized, web/app connected and touch-screen enabled. Additionally, both devices have significant traction amongst Affluent audiences - as 67% of Affluents own smartphones (Nielsen) and 47% own tablets (Pew).
The reasons for brands to engage with affluent consumers are simple enough. Affluents have larger disposable incomes and can purchase more goods and services. If their peers are other affluents, positive referrals from happy consumers can produce a powerful and profitable ripple effect. If they're prominent and respected in their offline lives, their influence can spread in their online networks to all sorts of consumers.