Luxury Bag Trends: Chanel 2.55 Price & High-Spending Clients
“Top Tier” customers is 0.1% and is worth 37% of the market. The removal of “aspirational” consumers: from the crisis to the redefinition of values, where the budget before luxury is moved?
The Luxury clientele It is increasingly polarized: on the one hand Top-Tier customers, which for high -end goods and services spend At least 50 thousand euros per year (but in reality they arrive to spend 10 times more) on the other hand Consumers aspirational, who occasionally buy luxury products.
However, while the former buy more and more – so much so that, while representing 0.1% of the total consumers, they generate 37% of the market value – the latter have gradually reduced luxury shopping. In fact, only in the last year over a third of them has reduced or suspended Purchases of high -end products (source: Studio True-Luxury Global Consumer Insights BCG-Altagamma).
Aspirational consumers: the reasons for disaffection
On the “retreat” of the aspirations weighs the contraction of purchasing power, due to the global economic situation and the geopolitical crisis. To this is added the climate of uncertainty than the future, which promotes greater prudence in purchases.
Their behavior is also influenced by perception of an excessive and unjustified increase in prices in terms of quality or innovation. This aspect is particularly evident in the bags whose Prices, in the last 5/6 years, have doubled. So, for example, Chanel’s classic 2.55, recognizable for the chain shoulder strap and the Matalassé processing, It went from 5,800 euros in 2019 to over 11 thousand today. Likewise, The Vuitton Damier canvas trunkThat In 2019 he was on sale for 800 euros, today costs 1,600 euros.
Towards a new concept of luxury?
How is the budget previously intended for luxury “reallocated”? A substantial part turns into savings and becomes the subject of financial investment. To encourage this approach, in the name of caution, are above all the feeling of uncertainty and fear for the future.
Another part, however, is dedicated to purchases with an autographed component, such as Products for wellness, self -care and Luxury Second Hand heads/accessories. This means that this consumers’ range has not given up tout court for luxury but it seems, rather, to have it reworked the concept And the meaning.
Top Tier: what they buy (and how much they spend)
If the aspirations cut purchases, the top tier do not pay attention to expense. Their Annual budget reserved for luxury exceeds 500 thousand euros, in practice about 1,500 euros per day. The voices that make up this basket are countless. There are jewels and watches, pieces of art and design, but also wines and spirits.
A relevant category is made up of hotel and catering, for which they spend almost 100,000 euros per year. Without forgetting the cars, to which 230,000 euros are allocated every year. Rags and jets are excluded from this calculation, which constitute an additional expenditure chapter. Obviously these are subjects with relevant liquid assets, whose entities – excluding properties, collectibles, cars, boats and so on – starts from a minimum of 5 million euros.
