Dominus, Susan. "Well-Heeled Shoppers Defy Wall St. Malaise For a Sale at Hermes." New York Times: 26. Sept. 2008, A24. Despite increasingly negative news concerning the American economy and Wall Street finances, women lined 18th Avenue in New York City this week to get their hands on a few deals at Hermes sample sale. "Oddly, that particular rationale -- shop to keep America strong -- did not come up in the Hermes line on Tuesday afternoon, although almost every other one did" (Dominus A24). Their reasons for buying luxury items in such a devastating economy primarily focused on the benefit of feeling good about getting something new and at a sale price. These women want to feel good about themselves and through their purchase, can feel better about their status through these luxury items, even though they are now feeling the pinch of the economy and need to budget more tightly.
1 comment:
I applaud these findings. Now you or someone in your team can/needs to analyze the phenomenon you just described. This falls under psychographic data.
Similarly, they should be looking at sales so far in luxury items. This falls under the industry category or the business environment.
In general, it is great how you raised questions, but keep in mind that we will be looking at how you went about answering them and finding the link.
Keep up the good work.
M
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