Luxury is getting a facelift and it’s impacting the incentives that companies use to motivate their work force. High-end fashion, handbags, jewelry, housewares and other goods were once targeted primarily to middle-age consumers — mostly women. But that demographic continues to spend conservatively, pushing marketers of luxury goods to broaden their target audience to include Millennials and Gen Xers.
“Demand for high-end luxury goods and services is greater across the board among young affluents than matures, 45 years and older,” says Pam Danziger, president of Unity Marketing, which specializes in providing business insights into the minds of the affluent. “Young affluents consistently spend about 50 percent more than mature affluents on luxury. Understanding this young consumer and what they value is critical to find growth in 2014 and in coming years.”
What works to motivate in the workplace generally mirrors the consumer market, so incentive users are turning their attention to luxury goods for their younger workers as well as their more established team members.
“We don’t perceive luxury as being expensive,” says Paul Gordon, vice president of sales for Rymax Marketing Services, a provider of rewards and recognition programs. “We view luxury as anything that’s aspirational. Everybody knows and wants Apple products, Louis Vuitton, Salvatore Ferragamo or Michael Kors.”
Gordon says people want “the real thing,” and if they can get it from an employer as recognition for a job well done, it’s especially gratifying. Fashion and jewelry remain classic luxury categories, but by no means the only options. And luxury is fair game for men as well as women. The biggest factor when using luxury incentives, he stresses, is being ahead of the curve in terms of what’s in style.
Michael Kors Tote
Gleaming details and shapely appeal from the Michael Kors Hamilton North/South tote will bring a wardrobe to life. A PVC exterior is paired with magnetic, gold-toned snap closure to create an awe-inspiring look. White rolled handles provided unparalleled comfort. Contact Rymax Marketing Services, Inc. (rymaxinc.com/smm) at 866-879-2581 or email info@rymaxinc.com.
Moonview Collection
The Bulova Accutron II (Style 97B130) from the Moonview Collection is crafted of stainless steel with a rose-gold finish, torsional resonator movement, double-curved K-1 mineral glass box crystal, numeral-etched coin-edged bezel, matte blue dial, luminous hands and markers, calendar, second hand, recessed crown, double-press deployant closure, and water resistance to 30 meters. In other words, everything your top performers could want and more. For more information, contact Adrienne Forrest of Bulova at 800-228-5682 or email CorporateSales@bulova.com.
Generation next
The launch of Alpha 2 marks the next generation of travel for the global citizen. Updated with innovative technologies, Alpha 2 stands as a true modern classic in both design and function. The collection ranges from slim, expandable carry-on suitcases and extended trip packing cases to large, wheeled duffels and garment bags in two- and four-wheel styles. For details, contact Mike Landry at 413-567-1567, email MLandry@tumi.com or visit TumiSpecialMarkets.com.
Some like it iced
Capresso continues to innovate with the debut of its new Iced Tea Maker for custom brewing a refreshing pitcher of iced tea from any type of tea at the touch of a button. The Iced Tea Maker offers a fully customizable iced tea brewing experience. Its sophisticated design lets the user brew from loose tea or tea bags, while an easy-to-read brew strength slide lever lets the user adjust to taste from regular to extra strong. The tea brews over ice into a beautiful 80-ounce glass pitcher, making it ready to be enjoyed immediately. For more information, contact Becky Sawicki of JURA, Inc. at becky.sawicki@us.jura.com or call 201-297-8271.
Waterford Lismore Castle Collection
Synonymous with luxury and good living, these Waterford Crystal Lismore Castle Collections pieces are the inaugural pieces in Master Artisan John Connolly’s Spring 2014 Lismore Castle Collection. Each piece is meticulously crafted at the House of Waterford Crystal. For more information, contact Waterford Wedgwood Royal Doulton U.S. special markets at 800-933-3370.
Exotic Fruit Fusion
Godiva’s innovative new collection debuts in three fruit-forward flavors with a touch of nutty crunch: Banana Tangerine Crunch, Passion Fruit Crunch, and Coconut Mango Crunch. Each piece is individually wrapped and perfect for sharing with colleagues, family or friends. During the spring and summer months, Godiva offers a no-melt guarantee to all 50 states. For more information, call Mary Mikus of Godiva Chocolatier at 866-888-6095 or email Mary.Mikus@godiva.com.
Frequent flyer favorite
Carry-on compliant, the Grand Traveler by Vera Bradley offers trolley sleeve, two slip pockets on the back and two slip pockets underneath the front closure, four interior slip pockets, rolled handles, removable shoulder strap, exterior ID window and zip closure. For information on using Vera Bradley in your incentive programs, contact Top Brands (Top-Brand.com) at 800-431-2127 or email sales@top-brands.com.
