Comments on: When Luxury Becomes A Four Letter Word

By: Affordable Luxury Candy Paint

Affordable Luxury Candy Paint — Mon, 15 Nov 2010 00:21:04 +0000

I would argue that these times have been good to businesses that have a strong low cost position on luxury goods. While demand may have slowed the desire for the items is still there. We have seen that consumers that might normally opt for the product with a strong brand identity are now willing to consider a less recognized brand for a lower investment so they can still enjoy luxury items yet be responsible to their budget situations.

By: Where To Sell Gold?

Where To Sell Gold? — Fri, 09 Apr 2010 21:12:38 +0000

seriously any one know a definite legitimate website to sell off your gold ... these fellas? Selling Gold

By: Spencer Jackson

Spencer Jackson — Wed, 03 Mar 2010 06:33:11 +0000

IMHO smaller quantities of higher quality products is certainly the key to self improvement. For too long now markets have been driven by price and the time has come for a quality revolution.

Thanks

Spencer

By: Sparxoo » Luxury Trend: Accessible Gold Standard

Sparxoo » Luxury Trend: Accessible Gold Standard — Tue, 18 Aug 2009 11:54:36 +0000

[...] are finding that higher prices may not be the deciding factor in luxury anymore. To many, luxury has become somewhat of a four letter word. Wealthy people still have the money to spend; but in order to not seem frivolous to the outside [...]

By: Internal-External Marketing Alignment Blog » Blog Archive » Focus Friday. Lessons from Kindergarten & Sesame Street to Help You Succeed in the Business World

Fri, 12 Jun 2009 17:03:59 +0000

[...] When times are tight, businesses that sell luxury products can face huge challenges in maintaining a meaningful brand.

By: Justin

Justin — Tue, 09 Jun 2009 20:19:16 +0000

Great article Jonathan. You are correct in repositioning what you are selling. As small businesses, we must create a buzz of what seperates you from the others. Every aspect becomes crucial. Thanks for sharing.

By: Ted Hurlbut

Ted Hurlbut — Tue, 09 Jun 2009 16:32:07 +0000

I think Jonathan is right about repositioning to a more value-oriented approach, and away from conspicuous oppulence. And the shift needs to take place not just in assortments, but in the totality of the customer experiece. Store layout and design must be a little more restrained, fixtures and displays must be more muted, and most importantly, store associates must dress and come across in a more understated way.

Beyond that, and to a point Jonathan didn’t make, assortments must be recalibrated, not by a reduction in quality, but by an adjustment in the percentage of higher priced goods, the introduction of more value-priced goods, and a general reduction in average price point. The adjustments to the customer experience must be matched by adjustments in assortments and price points.

By: Twitted by SannWood

Twitted by SannWood — Tue, 09 Jun 2009 16:14:22 +0000

[...] This post was Twitted by SannWood – Real-url.org [...]

By: Amanda

Amanda — Tue, 09 Jun 2009 16:08:17 +0000

This is so true. If I had tons of disposable income right now, I’d feel very guilty purchasing high priced items. I’ve been shopping for new cars lately and even though I’m in a good economic position, I still feel guilty. However, I’m finding it too hard to resist the great car deals available right now. So I’m looking at it as making a smart move by getting the best deal possible.

By: Grant Wickes

Grant Wickes — Tue, 09 Jun 2009 12:59:30 +0000

Observe and adjust. It’s prudent advice for all businesses regardless of the audience or segment you target

If you’ve properly positioned your company, brand, product to target the audience you seek with the features/value point that is appropriate, then seeing, reacting and adjusting is a good thing just don’t radically reposition (IMHO).

In boom time, marketers can get away with pricing “junk” as luxury items or getting “irrationally exuberant” in pricing too high. Now, all segments of consumers are evaluating their spending to ensure they receive “value” at the price point.

For luxury goods, I like the suggestions of Jonathan. Luxury has taken a somewhat tarnished tone to it. Finding other descriptors like premium, exceptional quality, uncompromising service are likely better ways to promote your offering.

Luxury will always have a place in the market. Adjusting to the times is just smart marketing.