From a recent Accenture Consumer survey:
“Do you consciously pay more for a luxury item
at a brand store than a discount store?”
Yes – 59%
No – 41%
Granted, it’s close, and they’re talking about brand stores (ex: Coach), but…the key word here is “consciously.” Consumers seeking luxury goods are willing to bypass discount outlets in favor of quality, even though they know it will cost a bit more. For upscale retailers, that’s good news, regardless of whether they’re a national brand or an independent, locally owned boutique.
Bottom line? If you have the goods, and can back it up with top notch service and an equally matched environment, your customers are willing to skip T.J. Maxx and head your way. Just need to be sure (a) they know you’re there, and (b) you’re worth the trip.
Source: Accenture Consumer Luxury survey of adults 18 or older who purchased luxury items during the 2009 holiday season{ 2 comments }
