Who and What Drives the “Luxury” Trade in North America?
The current market scenario in North America may be of concern to many, especially those who run the ‘luxury trade’. However, they may like to know that every one in three American ‘consumers’ seems to have made one purchase in last six months which fits the “luxury” label as per a survey conducted by Empathica. The next obvious question is how do you define ‘luxury’?
Luxury can be a need for some, ‘a way of life’ and for some it may be an aspiration. The perception of luxury’ varies with the income group and gender. However the cost of luxury as per the survey is more gender skewed than one would possibly imagine. The survey reveals that women are much easier to please than men. For most women, luxury begins at $100 and ends at $ 500. However, if you are a lady wanting to gift a ‘luxury’ product to a man, please note that men do not consider anything luxurious if it is under $1000. However, if like most people you are buying for yourself, you don’t buy on impulse and purchase only after careful consideration, the survey reveals.
Merchants who have pinned their hopes on online selling should be aware of the fact that ‘online purchasing of luxury goods’ is not yet the dominant trend. It would also help to know that although Americans are more forthcoming for an online purchase, a vast majority of the Canadians (70%) believe in in-store, touch and feel shopping.
‘Pastures on the other side are greener’ fits the bill when it comes to describing ‘perception of wealth’ by consumers. Those who are perceived as ‘wealthy’ have to earn at least a 100,000 USD per annum by those who earn 50,000 USD to 60,000 USD. If you ask the one’s earning 100,000 USD if they are wealthy, very few will agree. As for majority, the milestone of wealth then begins at 250,000 USD. Obviously the milestone of wealth keeps shifting.
Empathica is a customer experience management company based in Canada and US, the survey is a part of their Consumer Insight Panel.
Source: PRWeb
HomeSav Local: Luxury Home Deals Arrive
HomeSav Local combines home services and retail for extra savings in Toronto
HomeSave.com is a Toronto based flash sales website that focuses on luxury home furnishings and décor. Founder and Co-CEO Allan Fisch recently secured $1.2 million in venture capital and is launching HomeSav Local in Toronto on October 31st.
This is the first step in their multi-city Unlike most daily deal sites that offer a non-targeted array of services and products, HomeSave Local is a niche site, will focus on offers related to the home, which led them to success in their initial flash sales venture.
Concentrating on its niche led HomeSav to build its subccriber base to over 120,000 in a matter of months. They intend to enhance their customers experiences by focusing on “quality local discounts” and offering extremely reduced prices on home-related services such as roofing, carpeting, window treatments and many more. They also hope to offer discounts on luxury brand name items like Calaphalon cookware and kitchenware.
Dustin Koffler, president of HomeSav Local explains; “Our goal is to help our members create homes they love. That means offering not only designer furniture and décor, but connections to reputable, reliable and valuable home-focused retailers and service providers throughout the city.”
HomeSav Local is able to really focus on their niche buy pairing with local retail and home design experts, who hand select products and provide services. Stacey Cohen, owner of Interiors By Staey Cohen is offering a home design consultation for 90%, exclusively for HomeSav Local members.
“It is a great way for us at IBSC to connect with a very focused network of home owners and help them to create their ideal living space”
HomeSav Local currently only serves Toronto, but they’re hoping to expand further into north America in the coming months.
To promote the launch of HomeSav Local, HomeSav is holding a giveaway called “Inspired Living”. All new members will be entered to win a $100 gift card to home retailers like Pottery Barn, Pier 1 and Crate & Barrel. In addition to a giveaway entry, all new members will receive $10 to apply towards their first purchase after signing up.
Want to learn more about HomeSav.com?
HomeSav.com is Canada’s leading online shopping club (also known as flash sale site) featuring designer home décor, furniture, lifestyle products and home related services at a significant discount to its membership base. HomeSav’s membership has grown by over 1400% in the first year to over 120,000.
HomeSav.com has two divisions. HomeSav’s flash sale division launches new sale events each morning, introducing new brands and their products and services at up to 80% off. HomeSav Local launches daily voucher sales on home-related services at up to 80% off.
Source: HomeSave Press release
