Wednesday, January 6, 2010

New luxury, new opportunity

In this economy there is a new luxury consumer. The corporations and dealers that understand this will have an advantage.

The 2010 affluent consumer will still want nice stuff and they'll have money to buy that stuff. They may have less money than they did years ago, so they'll be more discriminating before they purchase. But they'll still want the best.

However, now that affluent consumer will be mindful of what others will think. Will buying that million dollar RV be a little too much? Will purchasing that $50,000 watch be over the top? And if that consumer is an executive in corporate America, he/she may also be concerned as to how it will look to employees if a $400,000 sports car is parked in their executive parking space.

The manufacturer and the dealer that knows how to produce, position and present their offerings to the new 2010 affluent consumer will have an edge over the old-schoolers who still think it's 2007, only smaller.

Barry LaBov
LaBov & Beyond

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