The 2011 Mendelsohn Affluence Survey reinforces several themes from my earlier posts on premium branding. For example, the definition of premium is relative – 89% agree luxury is in the eye of the beholder (a BMW is clearly premium to most, while a Prius is premium to others). Premium brands continue to derive their worth from the emotional content and meaning they convey.
The study also shows how the definitions of luxury and premium brands is shifting. Value is playing an increasingly large role. Small indulgences can be as rewarding as buying an expensive luxury item. Some consumers are defining these at "treats.
The study also shows how the definitions of luxury and premium brands is shifting. Value is playing an increasingly large role. Small indulgences can be as rewarding as buying an expensive luxury item. Some consumers are defining these at "treats.