The New Luxury Consumer

High income luxury consumers appear to be returning to the marketplace, but they are decidedly different than BC. (before the crash) From an e-letter from Kitchen and Bath Pro comes this assessment: "When the recession is over, the luxury market that emerges from the downturn is going to be very different from the way it was before the current crisis, according to marketing consulting firm Unity Marketing . The new luxury consumers are thinking about the future and learning that conspicuous consumption is not the way to grow wealth, to achieve happiness or to make their lives more meaningful.

Affluent consumers are giving back and taking concrete steps to make the world a better place, rather than simply buying more stuff. The American culture overall is in transition from a consuming, more-for-me culture to one guided by principles that are giving, sharing and linked to more for everyone.

Luxury doesn't mean the same thing it once did. People with money will always want the best quality, best workmanship, best style and design, but they want the emphasis on concrete attributes and values that are measurable - the facts and figures that translate into value - not image or status. In the new normal world after the recession, luxury is turning inward. It no longer is about an outward show of status or wealth, but an inner state of being linked with personal happiness and an outstanding quality of life."

For example, you can still travel to Paris, still buy Chanel, Yves Saint Laurent and Stella McCartney and feel principled doing so. Merci, the brainchild of the childrenswear designers Bonpoint, is not your local Goodwill, but they are donating 100% of their profits to a children's charity. This suits the new luxury consumer to a tee. See some great pictures of the store on the Scout-Holiday blog