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Five Types Of Luxury Consumers In The World

2011/1/8 13:29:00 153

As the sales of luxury goods rebounded, enterprises began to indulge in the myth of "luxury consumers".

Who are spending?

Luxury goods

We are told that these spenders are rich, young handsome men, who are happy to buy 4500 dollars a bike for their pet dog.

As for the whole world

Finance

Crisis...

HMM, what is that?

But a newly published study by BCG Research has further divided luxury consumers into five groups with significant differences.

BCG surveyed five luxury goods in six luxury markets in the US, Brazil, China, Japan, Russia and Europe.

Consumer

All have experienced the pain of financial crisis in varying degrees.

They are eager to consume luxury goods.

The first category of luxury consumers is those who aspire to consume luxury goods.

BCG said that consumers in developed countries earn more than $85000 a year, and those in emerging market countries earn more than $29000 a year. In the market they surveyed, four of the five luxury purchases were carried out by such consumers.

From individuals, they are not the ones who spend a lot of money, but on the whole, they contribute 1/3 of the total consumption of luxury goods.

Of the six markets studied by BCG, there are 115 million such consumer families.

The middle class has become the main force.

The second category of luxury consumers is the rising middle class.

Such consumers, who are so queer, earn more than $170000 a year in the US, and earn more than $55000 a year in emerging market countries. This level of income makes them richer than the "real middle class".

In BCG's six largest market, these consumers contribute 25% of luxury consumer spending.

There are 25 million such consumers in these six markets.

They spend most of their money on cosmetics and perfume, and they also like leather goods.

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The new class is also a big fashion.

The third category of extravagant consumers is the new rich family.

Families with more than $1 million in property can be classified into this category. These consumers spend a total of 90 billion dollars a year on traditional luxury goods, and they contribute about 1/3 of the total amount of luxury goods purchased.

There are 600 new rich families in the six main markets studied by BCG.

They love fashion goods and clothing.

The ability of the old rich to spend on luxury goods is beyond doubt.

The fourth category of luxury consumers is old and wealthy families.

The money of these families is inherited. They are far more frugal than their new rich families. Their contribution to luxury goods sales is only 7%.

Of these six markets, there are 1 million such families.

When the luxury rich people consume luxury goods, they are more rational.

The fifth type of luxury consumers is high and wealthy families.

Such families may earn their own money, but they regard it as showing off and showing no taste for spending money to show their social status.

BCG reports that such families' contempt for luxury brands is, to some extent, an extension of their elite status.

There are about 500 thousand such families in the above six markets.

When they buy luxury goods, they spend their money on watches, jewellery and furniture.

This financial crisis has changed the biggest three types of rich people.

Because of their tight hands or tired of buying too many things, these people began to question why they want to buy luxuries.

Their lifestyle is more thrifty than before, and they began to look for less exaggerated, more valuable goods and discounted goods.

BCG reports that luxury goods have lost most of their mystique, and the challenge of this conceptual change will be more fundamental and lasting than the challenges brought by this financial crisis.

Readers, do you know any other luxury consumers? Are these people still spending money on luxuries?