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Article: Demographics That Define the Luxury Market, Reports Unity Marketing; Three Segments Make up the Top 20 Percent of U.S. Households.
- Article from:
- Business Wire
- Article date:
- March 31, 2004
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Business Editors
STEVENS, Pa.--(BUSINESS WIRE)--March 31, 2004
Confusion reins when describing the luxury market, which is variously defined as the top two to five percent of earners or the 10 percent of income. Others define affluence beginning at $1 million in investable assets,
"In practice, what marketers mean by the 'luxury market' is largely subjective," says Pam Danziger, president of luxury research and consulting firm Unity Marketing and author of Why People Buy Things They Don't Need. "While Cartier and Bailey Banks & Biddle jewelers both target the luxury market, each defines it differently." Cartier targets the super-affluent ...