Luxury Institute Wealth Report

In the most recent “Wealth Report” New York-based independent research firm The Luxury Institute discusses the luxury retail customer experience, wine and liquor preferences for wealthy U.S. consumers and wealthy Chinese consumers opinion of luxury brands.  Pulling on their resources to tap into the minds of high net-worth individuals, The Luxury Institute is able to track and evaluate the trends and opinions of today’s most highly coveted consumers.

Highlights include:

• For the fifth year in a row, wealthy U.S. consumers ranked Nordstrom as the best retail experience according to the 2009 Luxury Customer Experience Index (LCEI) survey.
• consumers evaluated retail brands on complete satisfaction, brand personnel and store environment. Nordstrom’s no-questions-asked return policy earns high regard from consumers, as well as the expertise and attentiveness of the staff.
• In the 2009 Luxury Institute Wine and Liquor Preferences of Wealthy Consumers, respondents ranked Margaritas and Martinis as the most preferred drink. Additionally, wealthy individuals ranked Vodka, Rum and Tequila as the most popular spirits. Wealthy consumers say that the three spirits have the most significant difference in taste and quality among brands.
• Wealthy Chinese consumers ranked the ranked the best brands in the 2009 China Luxury Brand Status Index (LBSI) for Women’s Fashion, Women’s Shoes, Handbags, Men’s Fashion, Men’s Shoes and Automobiles. Respondents rated brands on four key drivers of brand status: consistently superior quality, uniqueness and exclusivity and  a “special” customer experience throughout. Exclusive industry insight from Mathew L. Evins, Chairman and CEO Evins Communications: “The Rise of the Legacy Brand in the New Economy.”
• Real Estate: Q&A with Laurie Moore-Moore, Institute for Luxury Home Marketing (ILHM)
• “A Culture of Service: Becoming a Client’s Trusted Advisor” by Robert C. Elliot, Bessemer Trust
• Camper & Nicholson – The (Super) Yachting Index

(This article is only accessible to members of The Luxury Marketing Council)