Friday, 23 October 2009

Shop ’Til You Drop… The Guilt – 23/10/2009

Shopping has long been described as a guilty pleasure, but according to consulting firm Bain & Co., the economic crisis has caused the guilt factor to override the pleasure for some luxury shoppers.

Bain & Co. suggested “shoppers are suffering from luxury shame.” Brand strategist Martin Lindstrom agreed, saying, “Guilt has really increased in the last year.”

This Wall Street Journal article discussed how luxury brands might absolve that guilt, including: “touting a special justification for splurging—profits are channelled to a charity, for instance—or offering novel shopping experiences that can make people forget their guilt.”

Internet shopping was also promoted as a way of reducing guilt. As was the use of pop-up stores -boutiques that exist for a few weeks or months - in unexpected places that aren’t traditional luxury shopping districts. “The idea is that pop-ups may not activate the psychological barriers that prevent shoppers from entering traditional stores.”

Another strategy is that companies are putting more emphasis on the "guilt-free shopping" that is said to come with buying environmentally safe products.

This article really got us thinking. If you felt the same, click here to read more.

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Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,