Male and Female Luxury Buyers Are Very Different
Luxury is a concept that, for most Americans, describes the good life of desirable products and services. But a closer examination of luxury reveals that consumers actually describe luxury in many ways, both positive and negative.
Beyond that, consumers’ descriptions of luxury vary depending on their gender, income, wealth, and generation, as well as on different behavioral and attitudinal attributes.
As part of our ongoing review of what luxury means through the eyes of consumers (as distinct from luxury advertisers), we asked Shullman Pulse survey respondents to answer the following question: “When you read, see, or hear the word luxury, please describe briefly what you think about.” Hundreds of respondents provided their descriptions of luxury, and we synthesized them into 125 discrete luxury themes.
This month’s brief reviews 28 descriptions of luxury as seen through the eyes of three market segments: all luxury buyers, and male and female luxury buyers. Their descriptions of luxury differ markedly, as is shown through four word clouds of the top luxury themes.
Based on what these word clouds include, we strongly believe that marketers of luxury goods and services should understand that consumers who buy luxuries are not alike by gender, and that messaging and advertising to attract their attention and their purchasing power must address those differences.
The following eight exhibits that focus on luxury buyers are included in this month’s Insights brief:
- Number of luxury buyers by gender and household income in millions
- Number of times luxuries bought in the past twelve months
- Person for whom the most recent luxury purchase was made
- Dollar value of the most recent luxury purchase
- Top twenty descriptions of luxury among all luxury buyers
- Top twenty descriptions of luxury among luxury buyers: Men
- Top twenty descriptions of luxury among luxury buyers: Women
- Top twenty luxury descriptions segmented by luxury buyers by gender