Luxury: Considered ("Fewer Better Things" by DeBeers).

[diagem]

I would love to hear opinions on DeBeers new "generic" marketing slogan for these days of economic turmoil (and perhaps beyond)...
I say *generic* simply because DeBeers noticed an advantage for advertising Diamond/jewelry in the US for the global Diamond industry vs. a disadvantage for their own DeBeers brands.

http://www.debeersgroup.com/Media-centre/Press-releases/2008/Luxury-Considered/




"Global economic slowdown gives rise to new discerning luxury consumers, say leading industry experts.

Buyers leaving “fast luxury” behind for fewer, better things.
“Luxury: Considered”, a global report launched today by De Beers Group, highlights a marked shift from conspicuous to discerning consumption in luxury as the global economic climate worsens and consumer fatigue with mass marketed luxury products escalates....



....Stephen Lussier, Executive Director of De Beers Group, said: "In uncertain times, we see signs that luxury consumers typically gravitate toward quality, toward fewer but better things that represent genuine value, and deliver on a promise that endures over a lifetime.

"This dynamic shift will have a lasting impact on the way luxury companies do business. This is particularly relevant to De Beers Group because we believe diamonds occupy a unique role in this new reality.

"The value of diamonds endures - they are crafted with skills acquired over generations, are savoured over a lifetime and can be worn and enjoyed season after season.”

 

[Indira-London]

Thank you Diagem - that''s an interesting statement from de Beers.

Here are my observations.
As my office is based right in the heart of the financial city of London - my main bread and butter clients are the city professionals: bankers, lawyers, management/IT/recruitment consultants, accountants etc. These folks have always focussed on quality and value for money - at least the ones who come to me instead of shopping in the retail branded designer shops seem to do. What seems to have changed in the current economic climate is their budgets!
Those getting engaged/married/celebrating a major anniversary or birthday are still buying but their budgets are no longer as high as they used to be when they had big bonuses but they have not changed their criteria on what they look for - quality and value for money are still paramount!

It would be interesting to hear other people''s observations.