Who is the luxury market? Is it the tweenagers in Jimmy Choo shoes or the 28 year old power person who can organize their house, run a company and travel from New York to LA all without missing a message on his or her iPhone?
It seems that the day of age brackets equaling what a person may shop for, where they might stay or what kind of car they might drive is obsolete and has been for some time.
The line between business person, socialite and trust fund teenagers has been blurred and it might actually be possible to take one product and make it just that appealing. Is this blurred perception a new demographic that should be recognized and marketed too as if they are all within the same age bracket, live in the same area and have the same spending habits? One may be able to assume that this might already be the case but witness of an intern carrying and Hermes bag.
Perhaps the luxury market which once encompassed Louis Vuitton is now stretching even further to reach past the luxury products of yesterday. Perhaps the word luxury is not luxurious enough given the saturation of ‘luxury’ items that are now in everyone’s hands from little sisters to grandmothers.
Could we be entering a time, regardless of the current economy, of the super selects who up the ante and step outside the typical spending habits of the luxury demographic?