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Tomorrows Luxuries Barry Clark Director, Future Foundation.

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Presentation on theme: "Tomorrows Luxuries Barry Clark Director, Future Foundation."— Presentation transcript:

1 Tomorrows Luxuries Barry Clark Director, Future Foundation

2 Luxury A life of luxury… …although luxury isnt what it used to be.

3 Luxury20297: Luxury The changing language of luxury Source: nVision 2005

4 Luxury8195: Consumer Perceptions of Luxury Household disposable income growth Total increase from 1980 in real terms - nVision/Experian forecast August 2006 - based projection Source: National Statistics/nVision Base: UK

5 Luxury20299: Luxury Splashing out on luxury, by gender, age and social grade % who agree/strongly agree they can afford to splash out on luxury goods sometimes As I read out a statement please say from this card how much you agree or disagree with each. We are only interested in your attitudes, opinions and views - yours alone, not those of anyone else. Firstly …: I can afford to splash out on luxury goods sometimes Source: nVision Research Base: 1,000 aged 16+ in the UK, 2004

6 Luxury18875: The European New Car Market The car market brand winners and losers in Western Europe Change in total market share from 2001 to 2005 Western Europe includes EU 15, Norway, Switzerland and Iceland. Source: European Automobile Manufacturers Association/nVision

7 Luxury16448: Luxury Aspirations in the EU 15 % saying selected lifestyle factors are absolutely necessary to live properly For each of the following, please tell me if you think it absolutely necessary to live properly nowadays? Source: Eurobarometer/nVision Base: 16,000 aged 15+

8 Luxury19580: Luxury "I'm often under time pressure in my everyday life % who agree / strongly agree, by gender within country Please indicate how much you agree or disagree with each of the statements that I read out…" Source: nVision Research Base: 11,000 aged 15+ / 5,000 aged 16-64 (Nordics), 2006

9 Luxury19660: Luxury Perception of luxury in Europe, by gender % who choose the following as the 'best' or the 'second best' description of luxury in their life Looking at all these things, can you tell me, for you, which of the following things would be the best description of luxury in your life?… and which of the others is the second best description, if any? Source: nVision Research Base: 1,000 per country aged 15+, 2004

10 Luxury17658: Luxury Importance of being rich, by country % who think the description is like/not like them Here we briefly describe some people. Please read each description tick the box on each line that shows how much each person is or is not like you…It is important to him/her to be rich. He/she wants to have a lot of money and expensive things Source: European Social Survey/nVision Base: 2,000 per country aged 15+, 2005

11 Luxury16988: Consumer Perceptions of Luxury I prefer to spend money on durable things that I can keep rather than on things that give me temporary enjoyment like a holiday, eating out and so on Proportion who agree or strongly agree, by age Source: nVision Research/Taylor Nelson Sofres Base: 1000 adults 16+, UK

12 Luxury17793: Consumer Perceptions of Luxury Concerns with having the best money can buy, by gender, age and social grade Proportion who are concerned with having the best money can buy "Some of the things people have told us they are concerned about are listed here. For each item, please tell me whether you find you are concerned about it at all…Having the best money can buy" Source: nVision Research/Taylor Nelson Sofres Base: 1000 adults aged 16+, UK

13 Luxury13787: Graphics from nVision for Barry Clark Concern with self expression through clothing or products Proportion concerned about expressing their personality through clothing/products "Some of the things people have told us they are concerned about are listed here. For each item, please tell me whether you find you are concerned about it at all…Buying products and wearing clothes that express my personality" Source: nVision Research/Taylor Nelson Sofres Base: 1000 adults aged 16+, UK

14 Luxury17875: Consumer Perceptions of Luxury Contrasting perceptions of luxury Proportion of adults who choose various aspects of life to be the best and worst description of luxury to them Can you tell me, for you, which of the following things would be the best description of luxury in your life? Source: nVision Research Base: 1000 adults aged 16+, UK, 2004

15 Luxury17655: Luxury Conspicuous consumption versus creativity across Europe, by country % who think the descriptions is like/very much like them Here we briefly describe some people. Please read each description tick the box on each line that shows how much each person is or is not like you… It is important to him/her to be rich. He/she wants to have a lot of money and expensive things….Thinking up new ideas and being creative is important to him/her. He likes to do things in his/her own original way Source: European Social Survey/nVision Base: 2,000 per country aged 15+, 2005

16 Luxury3326: Consumer Perceptions of Luxury Wish for fulfilment, by gender and age Proportion choosing to fulfil themselves as their main wish out of a list of five given options "If you had just one wish, which one of these would you choose? To be more highly esteemed/to have less fear/to be able to afford something/to be able to fulfil yourself/to have more friendship" Source: nVision Research/Taylor Nelson Sofres Base: 1000 adults aged 16+, UK

17 Luxury4996: Consumer Perceptions of Luxury The need for new experiences, by gender, age and social grade Proportion who strongly or moderately feel they must satisfy their need for new experiences For each item I read out will you please tell me whether you feel the need for it strongly, moderately, slightly, or not at all. Firstly…To satisfy my need for new experiences *2006 Question wording: "Please say how much you agree or disagree with the following statements…I feel the need for new experiences" Source: nVision Research/Taylor Nelson Sofres Base: 1,000-1,230 adults 16+, UK

18 Luxury17880: Consumer Perceptions of Luxury Luxury in the form of good quality food Proportion of adults who choose eating good quality food to be the best description of luxury to them, by gender, age and social grade "Looking at all these things, can you tell me, for you, which of the following things would be the best description of luxury in your life?…Driving a nice car/Eating good quality food/Enjoying the best home entertainment technology/Wearing nice clothes/Going on nice holidays/Having nice home furnishings/Living in a nice area/Having nice toiletries and pampering myself/having time on my own/Having time just to relax" Source: nVision Research Base: 1000 adults aged 16+, UK, 2004

19 Luxury20311: Luxury Luxury: Materialism, enrichment or time? Source: nVision 2005

20 Luxury19668: Luxury Perception of luxury in Europe: Materialism, enrichment or time? Looking at all these things, can you tell me, for you, which of the following things would be the best description of luxury in your life?…and which of the others is the second best description of luxury in your life, if any? Source: nVision Research Base: 1,000 per country aged 15+, 2004

21 Luxury19669: Luxury Perception of luxury in Europe: Materialism, enrichment or time? Age-profiles Looking at all these things, can you tell me, for you, which of the following things would be the best description of luxury in your life?...and which of the others is the second best description of luxury in your life, if any? Source: nVision Research Base: 1,000 per country aged 15+, 2004

22 Luxury19664: Luxury Perception of luxury in Europe: East vs. West % of people who chose the following as the thing that is the best or second best description of luxury in their life Looking at all these things, can you tell me, for you, which of the following things would be the best description of luxury in your life?… and which of the others is the second best description, if any? Source: nVision Research Base: 1,000 per country aged 15+, 2004

23 Luxury The changing nature of luxury The massification of luxury The concept of luxury is increasingly fragmented and individual The definition of luxury is now more experiential rather than being rooted in materialism Consumers increasingly pick and choose luxury items As luxury changes the role of price becomes less clear and time and experience become more important factors The challenge is to connect emotionally with consumers and emphasise the experience that they will have

24 Luxury Managing the massification of luxury


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