Consumers are cutting down on excess, forcing marketers to take a new approach to selling luxury.
It’s time to be more rational, notes Bert Helm in a BusinessWeek article: “Forget the usual talk of indulgent luxury. Instead companies from General Electric to Lexus are employing sober, left-brain pitches – special deals, useful features, long-term savings.”
Indeed, during these trying times, marketers must focus on value, practicality and durability.
Read: Advertisers Adjust to Market Luxury in a Recession.
Poor rich people need to get practical. :)