Let Them Eat Cake

This book guides marketing professionals on how to effectively position their products within the $77.7 billion luxury market. It presents the first research-based study of the 15 million affluent households leading the new luxury landscape. Pamela Danziger reveals that the luxury market has shifted dramatically from the conspicuous consumption of the 1990s. Through a two-year study of consumers with incomes of $75,000 and above, she identifies a new type of luxury consumer known as the "butterflies." These affluent individuals are moving their focus from home-centric luxury to a broader engagement with the world. The book offers insights into the evolving definition of luxury, illustrating how today's luxuries are becoming tomorrow's necessities as products transition "from the classes to the masses." Readers will discover how to effectively cater to both mass and class markets, with profiles of companies exemplifying best practices in luxury marketing. Danziger emphasizes that luxury transcends material value; it is about the emotional connection between products and consumers' dreams and desires. She explores the motivations driving luxury purchases across various categories, including home, personal, and experiential luxuries. Additionally, the book outlines six key trends in luxury marketing and provides strategies for building strong luxury brands in a competitive marketplace.