Trading Up: The New American Luxury
Michael Silverstein, Neil Fiske
Language: English
Pages: 336
ISBN: 1591840139
Format: PDF / Kindle (mobi) / ePub
A fascinating look at why millions of consumers are "trading up" to premium goods, and how companies can profit from this phenomenon.
Middle-market consumers have more discretionary income than ever before and are willing to pay extra for "new luxury" goods and services-items that deliver higher quality, technical advantages, and superior performance to conventional products. Above all, consumers are looking for emotional engagement-they look to products to help them manage the stresses of everyday life, and to help them realize their aspirations. A new luxury good may be as simple as a shampoo ($9 from Aveda, versus $3 from Suave) that brings moments of comfort and sensual pleasure, or as complex as a car ($26,000 for a bottom-of-the-line Mercedes, versus $20,000 for a Pontiac) that delivers feelings of safety and excitement.
Clothing, cars, beer, coffee, kitchen appliances, lingerie, personal care, pet food, restaurants-in dozens of categories, new luxury goods occupy a sweet spot in the market, because they can sell in much higher unit volumes than "old luxury" goods, but command much higher profit margins than ordinary products. But new luxury leaders-such as Callaway Golf, Victoria's Secret, Panera Bread, Belvedere vodka, Whirlpool Duet, and Williams-Sonoma-create andmarket their goods very differently than do conventional companies. Trading Up explores what's driving this move to premium goods, tells the inside stories of many New Luxury companies and their leaders, and offers insights and methods that can help the reader take advantage of this remarkable phenomenon. The book is based on the authors' experience in helping clients create billions of dollars worth of New Luxury products as well as on exhaustive supporting research.
Art Actuel, n°80 (mai à juin 2012)
Everyone's a Winner: Life in Our Congratulatory Culture
Movement is growing. A company called Tealuxe operates tea rooms on the East Coast and hopes to grow by franchising their concept. Teaism has shops in Washington, D.C., and claims that they offer “an alternative to the obfuscation, over-formalization and xenophobia of traditional Asian and English teahouses.” On the West Coast, tea shops dot the landscape in Los Angeles, San Francisco, and Portland. “The race is on to see who can get a successful tea chain in gear,” says Brian Keating, a tea.
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Was a major blow. However, it instilled in me the determination not to let a dream slip away again. I kept this constantly in mind the entire time I struggled to establish Viking Range Corporation. Missing out on one dream enabled me not to miss out on another.” Today, Viking Range offers an extensive line of commercial-type appliances, including dishwashers, refrigerators, wine coolers, and cookware for both the indoor and outdoor kitchen. As Sub-Zero did with its refrigerators, Carl emphasized.
More than any other figure in the Napa Valley, Jess Jackson was responsible for catalyzing the second part of the revolution of American winemaking: the democratization of better wine, the closing of the “great extremes” of superpremium Old Luxury wines and the cheap wines that had prevailed in the United States for years. While Mondavi was an outsider by virtue of being forced out of the family business, Jackson was a true outsider—a successful San Francisco attorney with no real experience in.
Well as emotions. To make the head of a golf club connect with a golf ball in such a way that the ball travels in a specific direction for a desired distance requires a complex combination of muscle control, hand-eye coordination, and strength. Traditional golf clubs are designed for experienced, avid golfers and golf pros. With a “pro” club, the rotation of the golfer’s body and the angle of the head need to be just right in order for the golfer to hit the ball precisely. To the duffer, a pro.