- 2009 will be the worst year on record for marketing luxury goods
- Out are marketing campaigns aimed at making 16-year-olds want that to-die-for luxury handbag
- Out are marketing campaigns aimed at nouveau riche Russians flush with petrodollars
- Out is pandering to the conspicuous wealth of the Persian Gulf
What's in? Pampering the richest and most loyal of customers. The Center quotes a representative of one luxury goods manufacturer: 50 percent of their sales come from just 5 percent of their customers.
So after an unprecedented period of economic expansion and wealth creation, we're entering a period where wealth will be where it's always been--concentrated in the hands of a few. There was something democratizing to see members of what used to be the middle class driving tricked-out SUVs, checking time on their Rolexes, or stopping for a quick shine on their Guccis.
In a future where government will control more and more of the capital, and private industry in various sectors--finance, healthcare, manufacturing--will become more and more dependent on government for that capital, we may not see these days again.
Just thought you might like to know.
Posts
2 comments:
Interesting piece. But to paraphrase Jesus on the obverse, "The rich will always be with you." Speaking of Biblical things, my theory is that the economy taketh away from one sector and giveth to another. So while the numbers may be down at Circuit City they're going to be up on Rodeo Drive. Moral? Everybody should get rich. Problem is, as you point out, harder to do with the capital being controlled by Washington.
economy taketh away from one sector and giveth to another
Good thought. More and more it will be taking from the private sector and giving to the public sector
Post a Comment