A Beginner’s Guide to New Luxury
An excerpt from David Allison’s article provides insight on how asking our spa guests the right consultation questions will lead to the positive outcome that we crave. New Luxury is in!
PERHAPS YOU’VE HEARD OF THE TERM NEW LUXURY.
According to industry trendsetters, New Luxury is a way of talking about whatever came before (Old Luxury, presumably).
It seems that fewer and fewer luxury consumers want the latest “it bag”. That’s an Old Luxury symbol of excess defined by the fact that everyone will recognize it, including those who can’t afford to buy one themselves, which was more or less the whole point. Old Luxury was about badging, and letting people know you belonged to a tribe that was at least partially defined by money.
Some sources within the New Luxury industry write about how it is embarrassing today to carry one of these recognizably expensive bags. One commentator, suggested these bags “scream for attention” and make the people carrying them look like they are “lacking in confidence”.
Okay, looks like Old Luxury is out.
So, what’s the New Luxury equivalent? The New Luxury bag is a one-off (or at least hyper-limited-edition) purse. There are no logos on the New Luxury bag, except a discreet tag inside that only the owner of the bag will ever see. Why? Because the rules of New Luxury dictate that the only people who should know your handbag cost as much as a new car for your nanny are the other four people who own the same one.
Put another way, proponents of the idea of New Luxury talk about how luxury is no longer about badging yourself with conspicuous labels for the benefit of others. Using Valuegraphics—a database of more than 100,000 surveys, and as many as 380 metrics—our data analysis confirms that luxury consumers are looking inward and are more concerned with how an object or service makes them feel. New Luxury is about a personal experience with the product, service, or brand.
Specifically, the Valuegraphics Database points out that New Luxury is all about delivering three things:
· Personalization
· Customization
· Uniqueness
Importantly, New Luxury is also more attainable for more people. New Luxury products, services, and brands don’t necessarily come with price tags exclusively for The One Percent. As New Luxury replaces Old Luxury, democratization is coming along for the ride.
Want to read the entire article to gain more insight on how New Luxury can impact your business? Go here>>https://valuegraphics.com/news/luxury
Linda Harding-Bond
