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Rumors of the Death of Aspirational Shopping Are Greatly Exaggerated
SmartBrief highlighted a BrandWeek article, The Aspirational Consumer: RIP by Robert Klara.
I had to look at the date on the post. April Fools? 2008? Both wrong; it was Nov. 3, 2010.
What does Mr. Klara point to, as proof aspiration is dead? A study by Pricewaterhouse, “that skipping top-shelf brands in favor of lower-end ones is most common in households with incomes of $100,000 or higher. Retail earlier this year revealed that 93% of shoppers say they’ve changed their shopping behavior—with 17% opting for cheaper brands.”
Another example for Mr. Klara was a blog comment; “Aspirational marketing is a technique in which the goal is to sell items to people who can’t afford it.”
He concludes with a quote, “‘aspirational’ is a dirty word.’ It was nice while it lasted.”
My take?
That’s BS …
The goal of aspirational brands is to allow us to feel better about ourselves.
Sure some could go beyond their reach but most of us are still trading down for some items while trading up for others.
That’s what we have always done. And always will do.
Aspirational brands in my world are Tiffany’s, Bose, Apple, not Bufferin, Miller Gold or Twinings.
Contrary to this BrandWeek article, I believe we are on the cusp of a new hedonism.
Yes, I said that and here’s why …
Our 401ks are toast. Our homes are not the treasure chest we were led to believe. The prospects for our future could realistically all end with a terrorist bomb in one of our cities or another banking catastrophe.
All which are out of our hands.
Live for today because you may not get another chance.
Look, I learned long ago if I am trying to create an exceptional experience for customers, I had to look at myself as deserving that kind of attention first. So I stay at a Four Seasons, Westin, Ritz-Carlton whenever I can.
People who don’t try to sell themselves that a $39 Best Western by the busy highway with a lumpy bed one step up from a sofa and a breakfast that consists of pastries purchased at Costco days ago is the same. “It’s just a bed,” they tell themselves.
But aspirational brands cannot be reduced to such a delusion. You feel different when you wake up in a five star hotel bed with housekeepers who are trained to say, “Good morning” and look you in the eye.
Just like your fiancée will feel better when the diamond ring comes in the signature turquoise box from Tiffany’s.
Or your Tumi bag that has an isolated pocket so your ties are always flat.
Or your Michael Kors purse has an infinitely adjustable strap so it fits to you, you don’t have to settle for you trying to fit it.
Aspirational brands – the best – the premium – the lifestyle. It’s as American as apple pie. And it's not going away with clients I want to work with.
If luxury and aspiration are truly dead, we wouldn’t see brands like Saks, Nordstrom or American Girl leading the recovery like we are. Hermès International said it was heading for its strongest sales performance in a decade, and perhaps ever, after registering a 30 percent jump in revenues in the first half of this year as reported 11/9 in WWD.
And that’s what got me on this rant. Great retail – aspirational retail – is there to let us know everything is OK. That we deserve it. That we earned it.
Yes Virginia, Americans still want things. Good things. Great things. Because in a world of bad things, we aspire to be lifted out of that world.
A world of scrimp, of save, of getting by.
The best retailers will capitalize on this in 2011 instead of trying to dumb down their brand with knockoff lower-price stores.
Got it Tag Hauer, Versace, Hummel?
It's up to you to help us aspire to buy great things. For when we can see that luxury on the outside, we can believe, if only for a few minutes that it exists on the inside.
That we aren’t vulnerable. That we’re safe. That everything is going to be OK.
And you can’t get that with a Groupon or yet another “friends and family” event.
Scratch the itch – we’re waiting…
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