Abstract
No longer reserved for the selected few, luxury is now within the reach of a much larger
consumer segment. In this analysis we ask Europeans what constitutes "luxury‟ in their
everyday life.
As the prospects for obtaining a certain level of material wealth is fulfilled - or it is within
closer reach to more of us - our defining goals in life shift, our mentalities change ever so
slightly and we start to think differently about our lives. Europe in the new millennium is
prospering and in the wake of increased affluence follows changes in consumer behavior.
Our turning point changes and so does our idea of what is important in life. We want to
live, experience, try new things, be loved and love and enjoy the sense of security,
pleasure and personal fulfillment. This change in consciousness is both a cause and effect
of our values in life and we can detect this shift when we ask people about their idea of
"luxury‟.
Extract
[...] Of course care should be taken not to generalise matters based on such perhaps slightly leading questions, but the results illuminate that while materialistic riches do matter, people find it much easier to identify with statements that emphasise socialising, doing new things and spoiling oneself. Consumers are becoming less concerned with spending money on durable goods and more interested in spending money on temporary, more hedonistic, enjoyment. Perception of time pressure, by country and gender Proportion who agree or strongly agree that they are under time pressure in their everyday life “Please indicate how much you agree or disagree with each of the following statements that I read out. Remember, we are interested in your attitudes, opinions and views alone, not those of others. [...]
[...] Perception of luxury in Europe: Materialism, enrichment or time? Country-profiles “Looking at all these things, can you tell me, for you, which of the following things would be the best description of „luxury‟ in your life? and which of the others is the second best description of luxury in your life, if any?” Materialism 100% Enrichment Time 90% 80% 70% 60% 50% 40% 30% 20% *EU average Czech Rep Poland Sweden France GB Spain Germany Italy Hungary 10% Perception of luxury in Europe: Materialism, enrichment or time? [...]
[...] and which of the others is the second best description of luxury in your life, if any?” 35% 30% 25% 20% 15% 10% EU average Poland Czech Rep Italy Spain Germany France Sweden GB Hungary Perception of luxury: Home entertainment Proportion who choose „eating good quality food‟ as the thing that is the best or second best description of luxury in their life, by country “Looking at all these things, can you tell me, for you, which of the following things would be the best description of „luxury‟ in your life? [...]
[...] Still, driving an expensive car ranks as the third choice for women while for men it is their first choice (42%).This statement is chosen as first choice in Germany and Spain, the Italians and Hungarians also th have a preference for this with car in second place, while in Sweden this option is down in 6 place. 3. In third place respondents chose „living in a nice area'.The proportion here is just slightly below those choosing driving an expensive car as a luxury. Living in a nice area appears to become more important with age. The French and the Czechs are the only countries to have this option in first place. 4. – 10. [...]
[...] • The definition of luxury is fluid and what is understood to constitute luxury in one‟s life varies a great deal depending on peoples‟ circumstances. • Materialistic forms of luxury survive alongside a new definition which encompasses authenticity, experience, quality of life and self-expression. 3. The changing language of luxury ‘Old' luxury 21st century luxury Not a necessity Not a necessity Quality (best of its kind) Best quality for amount spent Expensive Elite Traditional Materialistic Not necessarily expensive Can be mass market Not necessarily traditional Can be materialistic but also • Personal • Authentic • More likely be experiential 4. [...]
