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Recently after economic crisis, luxury products back excited. Hermes, Cartier and Harry Winston started to benefit.
However, overall, there is a change in consumption patterns, especially among the deep pockets of American consumers. "It can not be denied, their current spending style influenced a recession," said the head of the luxury market analyst Bruno Lannes from Bain & Co.
Furthermore, Lannes said today, while shopping though financially able to buy whatever they want, the deep pockets of consumers are now far more prudent in spending their money. "There is thinking, 'do I need this stuff or not', that's what distinguishes the style of their spending before and after the recession," said Lannes.
It is seen from the results of interviews with the Wall Street Journal Asia Lyndie Benson, wife of saxophonist Kenny G. As a socialite who also works as a photographer, Lyndie often make impulse purchases. "I shop when I want. But that was then, now I think twice before buying something," he said.
In fact, Lyndie says put back Morgane Le Fay gown very attracted his attention when walk in Malibu, California. "I think, I do not need it. So, I put it back," said Lyndie.
Surveys conducted Bain & Co., a global management consulting firm, said that after the recession, the creme de le cremedi America has a new consumption patterns. Although generally not affected the economic crisis, they are empathetic to what is happening around them.
"Generally, they are not affected recession. They still have jobs, homes and savings, but they saw what was happening in their surroundings and indirectly it affects how they spend their money," said Lannes.
Changing consumption patterns were also seen from the products they choose to buy and how to shop. Although still look the brand, many of the residents of Bel Air and Sunset Boulevard are now considering a discount.
Survey of consumers conducted throughout the Harrison Group's first quarter 2011 show that of those who earn USD275.000 per year, 38 percent chose to shop when there is a discount. This figure increased by 7 percent compared to the same survey in 2010.
Not only is shopping at a discount, the relatively rich consumers who shop online are also often offer lower prices. Call it Jim Taylor, VP of a private company. Financially, in 2011 income is much higher than in 2010. However, when shopping, he would prefer to buy Michael Kors suit through an online boutique that offers low prices.
While Laurence Geller, CEO of Strategic Hotels & Resort prefer to shop at Nordstrom Rack that provides product discounts from a variety of premium brands. "Changes in consumption patterns of others that happen brand image is now no longer plays an important role. Consumers prefer products with value for money, they consume the product that they can make long-term investment. If we are talking fashion, then chances are purchased are "little black dress" wear high-power or diamond jewelry is timeless," said Lannes.
The retailer of luxury products are now changing their strategy in attracting customers. Not again put forward a brand image, but the personal relationship between the brand and the client, as did Hermes. In terms of price, a Hermes bag is priced by numbers soar. However, consumers are still buying in addition to the status given these bags, Hermes also make a personalized approach to each customer.
"Personal approach is important. In addition, consumers today want something that can represent them, no longer has a mass of goods," said Ikram Goldman, owner of Ikram boutique network.
"So, it becomes important for manufacturers of luxury products to maintain exclusivity," he concluded.
