It’s surprising that the emerging market is now the biggest consumer of luxury goods, as reported by Deloitte, where a more mature audience once held the title. This will require luxury brands to reinvent their marketing approach in order to accommodate their new clientele. With an increase in income and more access to loan products, the new luxury consumer is fully equipped to have all they desire.
But what is it that this elite group of consumers really want?
Fast Cars Are No Longer Enough
While speed is still a requirement in fast cars, the more exclusive ones are those that tend to lure the dollars. These are the limited edition cars that ensure they remain exclusive. Cars such as the Ferrari Pininfarina Sergio are more than just vehicles with a high price tag. Although the approximate $3 million asking price may not be considered much for those who have cash at their disposal, this figure could rise due to its exclusivity. Ferrari decided to only manufacture six of these models, making it one of the most coveted vehicles on the planet.
A Home to Call Their Own
There are homes and then there are abodes that make luxury hotels seem a little dated. These homes are kitted out with top of the range items from furniture right through to appliances, fittings, and more. These pads also need all the amenities such as tennis courts and landscaped gardens. Custom designed pools may require a bit more than just basic pool knowledge as waterfalls and built-in hot tubs are part of the package. Green home design initiatives are also a must-have and no expense is spared in getting the perfect design out.
Music Items You Won’t Find In Every Cabinet
It all starts with a crisp and clear sound that resembles studio quality. But it doesn’t stop there. An array of specialized materials that ramp up the price tag, such as gold, platinum, and leather, also feature in these gadgets. For Sennheiser Orpheus HE1 headphones, the price tag of $50,000 may seem steep but considering that only 250 are made per year, exclusivity is guaranteed.Hook these up to a VPI Classic Direct Turntable that retails for a massive $30,000 and a superior musical experience is guaranteed.
Although money can’t buy everything, it certainly affords those who have it with an array of exclusive options. Money thrown at the right items can provide comfort, pleasure, and even relaxation. The finer things in life make the tough journey to the top worth it.