This book, written by Michael J. Silverstein from BCG and Neil Fiske, CEO of Bath and Body Works is a very well researched piece that talks about how today's #consumers shop, buy and behave. The authors talk about 'New Luxury' and how it is different from Old Luxury.
The book begins by talking about the sociodemographics and emotional drivers of shoppers and then, taking case studies across categories like #food, #toys, #automobiles, #wine, #lingerie, etc., they walk the reader through how #brands in each of these categories found a white spot and created a segment at a price point that never existed before.
Irrespective of the category, the book consistently talks about the eight practices that New Luxury #leaders follow to win in the market and the four emotional spaces that leads a consumer to trade up By the end of the #book, you realize that trading up can be done by any category if the right approach is followed. The only drawback is that this book has all the case studies from the American market, but I still believe that the lessons in the book can be used by any brand/company/category in any market. It is a definite recommendation from me to all the #marketers and #brandbuilders out there.
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