26 August 2007

The problem: "360-degree luxury lifestyles"

That's handy. Here's the Luxury Institute's (below) profile of their ideal consumer:

  • The top 10% wealthiest U.S. Households based on Net Worth
  • 11 million households who can choose to live a 360-degree luxury lifestyle
  • Own 70% of all the wealth in the U.S.
  • Average net worth of $3.1 million
  • Average annual income of $256,000
  • Earn 45% of the aggregate annual income in the U.S.
  • For most luxury goods and services firms, these are the 20% or less of the clients who deliver 80% of the profits.
For the sake of argument, we might just call this THE PROBLEM.

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