While there seems to be a general consensus on what the term “luxury” means, the definition in the minds of different segments of the population varies, according to a new report from the Shullman Research Center.
NEW YORK – The vocabulary consumers use to describe luxury is evolving, with the term “exclusive” falling out of fashion, according to the CEO of Shullman Research Center.
Millennials – now the United States’ largest generation and imminently the future consumers of luxury products and services – are now encountering financial issues and challenges that the Gen-Xers and baby boomers never encountered when they were young adults.
When trying to reach an affluent audience, the channels that marketers use to disseminate their message often reach a greater portion of mass consumers than the wealthy, according to a new report by Shullman Research Center.
Women may drive the luxury industry, but men are more frequent purchasers in numerous sectors, according to new research from The Shullman Research Center.
While millennial consumers have the weakest buying power, they are the most likely of any adult generation to have purchased a luxury good or service within the last 12 months, according to a new report from the Shullman Research Center.
NEW YORK – There is often a disconnect between the consumer’s view of luxury and the brands’ and agencies’ perspectives on the individual’s thoughts, according to the founder of The Shullman Research Center at Luxury FirstLook: Strategy 2016 Jan. 20.
Over the course of 2015, the economy showed signs of uncertainty and global happenings affected consumer spending, but researchers agree that 2016 is on pace to maintain and curate a luxury ecosystem.
Despite making up less than a third of all active consumers during the holidays, millennials comprise the majority of luxury holiday shoppers, according to a new report from Shullman Research Center.
Luxury buyers, brands and retailers are not always meeting each other on common ground, according to executives from Shullman Research Center and Kantar Media who spoke during a Luxury Daily webinar on holiday shopping for the 2015 season.