Are You Luxury or Premium?

One of the benefits of this recession, and there will be a few of them, is the differentiation between luxury and premium.

Luxury is expensive just to be expensive.

Premium is quality goods made with quality products.

Which one has the better value?

The companies that have been positioning themselves as luxury are realizing the error of their ways. There is no perceived value in a product that is perceived as luxury.

Luxury is haute couture. Premium is custom made.

Look around. We spoil ourselves when we think the product is premium. But the days of buying a product just because it is the most expensive is not longer an option. No matter which tax bracket you are in, there has to be perceived value.

Jaci Russo

Sr. Partner

The Russo Group

photo by ExploreLuxury