Spending by the economically sheltered upper class
Implications - Some affluent consumers are flipping the metaphorical bird at the current economic disaster by continuing to engage heavily in excess spending, some even more so than pre-recession. This spending spree is fueled heavily by the ability for those unaffected by the economy to snag major bargains.
Trend Themes
1. Luxury Consumption Amidst Economic Downtrends - Affluent consumers continue to engage in excess spending despite the economic landscape, enjoying the opportunity to snag major bargains.
2. Customization and Exclusivity as Status Symbols - Strictly limited access to customized luxury products heighten exclusivity and enhance prestige.
3. High-performance and Luxury Fusion - Experiential luxury is achieved by fusion of high-performance and sophisticated aesthetics.
Industry Implications
1. Luxury Retail - Innovative approaches in luxury retail can enhance customer experience, provide exclusivity, and elevate brand positioning.
2. Customized Manufacturing - Providing unique, bespoke, and customized products for high-end clientele can position brands as exclusive and premium.
3. Technology and High-performance - The fusion of technology and high-performance can create unique and exceptional products that combine high aesthetics and advanced functionality.
