According to NPR and the folks who make cars, luxury is back. After years of pinching pennies and worrying what the neighbors would think if they came home in a brand-new Bentley, people are starting to buy high-end goods again.
I won’t go into the psychological calculus behind consumption (suffice it to say that research shows people like to spend money — thanks, science!), but I do recognize the need in some high-end customer segments for a service provider that just gets the job done.
Whether it’s cars or stereo equipment or patios, some people have the desire (and money) for the best, and they don’t want to apologize to their friends or colleagues that they don’t have it.
Here’s Seth Godin’s take:
People will go out of their way to buy and recommend products that don’t require an apology.
They don’t want to have a dinner party and say, “Gosh, I’m sorry there’s no more room out here to sit, we’d wanted to put in more benches.” They don’t want to have their neighbors over and say, “Gee, I’m sorry there are so many weeds in the lawn.”
They want a pristine, lush lawn and a big, bold patio, and they’re unabashed in that desire. And now, with the economy turning around, they can pursue those things.