Report: Affluent shoppers look for ROI-Market Survey-Magazine-IRISPANCY FASHION ACCESSORIES & JEWELRY

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Magazine > Market Survey > News Content

Report: Affluent shoppers look for ROI

5/23/2010 7:10:34 PM

Stevens, Pa.--According to a new report from Unity Marketing, the most important measure of excellence in a fashion brand is whether or not it can be qualified as a "good investment."

The study, "The Luxury Fashion Consumer and their Favorite Fashion Brands," was based upon a survey of 1,245 affluent fashion consumers fielded from April 6-10, 2010, which examined fashion shopping behavior and the top fashion brands among luxury consumers. Although the study looked at apparel brands, not jewelry, the study gives some insight into how, and where, luxury shoppers are taking their money these days.

According to the findings, even more than high quality or good value for the price, consumers want to know that they are getting a return on investment.

"This gives the phrase 'investment dressing' a whole new meaning," Pam Danziger, president of Unity Marketing and lead researcher in the brand study, said in a media release. "The concept of investment implies that the purchaser gets a return on what they spend. Luxury consumers expect their fashion brands to deliver a return on their investment in the form of timelessness, sophistication and distinction, according to the survey results."

Participants in the survey were asked to rate their favorite apparel brand out of a list of the 11 most widely purchased fashion brands among all affluents in Unity Marketing's 2009 luxury tracking surveys.

The highlights include the following: Talbots received top marks for honesty and integrity, factors that rated more highly than high quality among the surveyed participants. Second-place Armani rated for its brand image, one that consumers see as "strong" and "appealing." Meanwhile, Coach slid into third place for the way it pays attention to its clients and understands their needs.

The other eight brands included in the survey were Ann Taylor, Anne Klein, Brooks Brothers, Calvin Klein, Gucci, Liz Claiborne, Michael Kors and Ralph Lauren.

"The findings are a wake-up call to fashion marketers about the new post-recession realities of the luxury consumer market," Danziger said in the release. "With a few exceptions, the most purchased fashion brands among these highly affluent consumers are not considered 'true luxury,' but 'accessible luxury' or even premium mass brands. The reality of the fashion market is that very respectable, though not true 'luxury' brands like Talbots, Liz Claiborne and Ann Taylor are delivering an investment in fashion that is most highly regarded by affluent customers loyal to these brands."

The consumers polled for the study were qualified as "affluent luxury consumers," with an average annual income of $331,500.

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