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Main Consumer Goods & Retail Retailing Prestige Consumers 2003
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Prestige Consumers 2003

DateJan, 2004
Pages69
Price / format€6094 / Electronic

€6 094 

Report Information | Custom-Tailored Research | Product Trade Lead


Abstract:
 Introduction

Growth in the number and net worth of core prestige consumers is driving growth in the prestige goods market. By understanding exactly what needs consumers are trying to fulfill in the pursuit of different prestige goods, manufacturers can reposition their offerings to meet those needs and capture a greater share of this lucrative market.

Scope

Data and forecasts on the size of the prestige alcohol and personal care markets for the US and seven key countries across Western Europe

Core data on the number and asset value of wealthy consumers by country and wealth bracket

Sociological and psychological review of the underlying drivers behind prestige consumption

Case studies illustrating the ways in which prestige manufacturers and retailers have repositioned brands to boost growth in their markets

Highlights

The underlying motives for prestige purchasing are: conspicuous consumption prestige, social prestige, unique prestige, pleasure prestige and quality prestige.

Different prestige items appeal to an assorted combination of prestige needs. By identifying the different types of prestige sought by consumers and then refining product development, marketing and positioning to meet those explicit requirements, manufacturers and retailers can capture a growing share of this market.

Due to the nature of the prestige market, there are limitations on the potential expansion of the customer base. Indiscriminate brand extension that leads to a dilution of brand equity is the largest threat to growth.

Reasons to Purchase

Explore what motivates prestige consumers in order to effectively position your products

Learn how to create and maintain cachet for your brand, avoiding dilution of brand equity that can result from over extension

Discover how industry leaders have repositioned themselves to capitalize on growth in this market

Region: US, Western Europe








Table of contents:
 TABLE OF CONTENTS

Chapter 1 EXECUTIVE SUMMARY 3

Chapter 2 FUTURE DECODED 13
Introduction 13
Key findings 13
Drivers and trends 14
Sociological/psychological impulses 14
Market segments 18
Overview 18
High net worth and mass affluent consumers 19
Aspirational consumers 30
Market size 31
The prestige market 31
Prestige sales by country 32
Prestige sales by category 34
Alcohol 34
Personal care 38
Conclusions 45

Chapter 3 ACTION POINTS 47
Introduction 47
Key findings 47
Associate products with prestige values 48
Develop prestigious retail environments 54
Use packaging to create a prestigious image 56
Tap into the psychographics of prestige consumers 60
Brand extensions, though sometimes necessary, must be carefully managed 61
The dangers of expansion in prestige markets 62
Exclude aspirational consumers 63
Segregate brand extensions 63
Stay attuned to the growing diversity of prestige consumers 64

Chapter 4 APPENDIX 66
Definitions 66
Research methodology 67
Sources 67
How to contact experts in your industry 67
SPP writing team 68




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