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Doing de luxe. (Business and Economics).(Brief Article)
Michael Silverstein and Neil Fisk, "Luxury for the Masses," in Harvard Business Review, April 2003 (harvardbusinessonline.org)
In recent years, many middle income Americans have begun buying luxury goods--ranging from Mercedes automobiles to $3.50 cups of coffee--which were once the province of the rich alone. Silverstein, a marketing consultant, and Fiske, CEO of an upscale cosmetics chain, argue that a number of trends are driving consumption of prestigious products by great numbers of people, or what they call "massteige." Among these:
Changes in retailing: Globalized trade coupled with large chain stores has allowed manufacturers and retailers to achieve economies of scale on products that once were affordable only to the rich. New niches for large-scale premium retailers like Williams-Sonoma and Crate and Barrel have opened up.
Smarter consumers: Increased travel and education has given Americans a better understanding of high-quality goods.
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Source: HighBeam Research, Doing de luxe. (Business and Economics).(Brief Article)