You know the story, but do you know the lessons learned from it?
Prior to the global financial crisis, affluent consumers spent above their means, in large part due to phantom-like perceived wealth. “Their housing values were going up and their 401k’s were going up, so they felt wealthy and tended to spend above their income level,” said Unity Marketing’s Pam Danziger recently in Luxury Daily. » Read More
Affluent consumers enthusiastically consume traditional and digital media.
Marketers of high-end home brands had to make difficult decisions during the economic recession. When revenues fell, so did marketing budgets – and that often meant that media was dramatically cut. More than once, a CMO told me that they were facing a sort of “either/or” crisis. » Read More