Luxury Portfolio International® has issued a white paper on “The Emotional Role of Home,” created to bring its member firms a clearer understanding of today’s high-net-worth Americans in an effort to best serve this discerning luxury clientele.
According to the company, the white paper, which is available exclusively to Luxury Portfolio member firms, was created in conjunction with Harrison Group, a YouGov company, and includes select findings from the 2012 Survey of Affluence and Wealth in America, produced by American Express Publishing and Harrison Group, along with information collected exclusively for Luxury Portfolio.
The research provides unique insights and uncovers many key motivators behind the decisions of today’s luxury home buyers. Highlights include the emergence of the “Worth Dynamic,” a phenomenon resulting from the Great Recession, where consumers evaluate the true value of a property and its specific details, with an emphasis on quality and craftsmanship.
The emotional appeal of home as a base for creating fond memories, housing treasured positions and simply understanding happiness is explored at length, as is the value of home as a refuge and a place for serenity.
“By carefully examining the motivators and preferences of the affluent consumer, we are able to refine our marketing approach with a clear focus,” comments President of Luxury Portfolio International® Paul Boomsma. “Just as the unique needs of the luxury consumer are continually evolving, so is our approach to supporting our members’ efforts to market to and on behalf of these high-end homeowners.”
Luxury Portfolio International® is the luxury face of Leading Real Estate Companies of the World®, the largest global network of premier locally branded companies dominated by powerful independent luxury brokerages. View a summary of the white paper and learn more about the network at www.luxuryportfolio.com.