Trading down to trade up

Luxury I had a meeting today with a client in the luxury sector.  Which these days is so broad it needs subdividing to make sense of it because virtually everybody in the UK market has luxuries within reach. I remember a respondent in a piece of research I was doing on taking out loans who had just booked a £2,000 cruise ‘on impulse’.  The real growth area in luxury is not at the high end. It is the the mass market trading up in 1 or 2 areas. And either borrowing to finance it. Or trading down their spending in certain categories so they can afford to trade up in others. The interesting question here is whether it is possible to use customer data to identify downtrade brands as a predictor to find customers with a propensite to trade up to other brands.  I must investigate further.



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