The Definition of Luxury
The definition of luxury interior design has changed significantly over the last decade. While there is a growing demand for luxury design, the recession of 2008-2010 disrupted the days of excess and flashy and moved affluent consumers from conspicuous consumption to discreet investment and even conspicuous frugality.
Today’s luxury interior design is about creating a project experience for your clients. It’s not about a transaction but about transformation that delivers treasured memories around the design process, working with you, and the creation of their luxury interior design. The focus has shifted from products to people.
“There is no question that there is more money out
there than ever before and it wants to be used yet the
name of the luxury game needs to change – It’s not
about the brands, it’s about the people and how you
make them feel – status over others is so passe!” Pam Danziger, Unity Marketing
Expensive is passé; today luxury is about best value.
Clients are less apt to make a purchase to show off how much they can spend. Instead they’ve made a shift to getting the best value. Part of this has come about because of their access to goods online and the revelation of what goods truly cost. Designers can no longer charge hidden fees and secret markups, transparency is the currency of trust.
Extravagance has been replaced by practical.
Decorative has given way to functional. That doesn’t mean luxury interior design clients aren’t investing generously in their homes, they are. It simply means that the investment is more meaningful, more relevant to every day use, and more personal. It’s about their home, their way instead it being your way (in case you have a signature style. Today the signature is your client’s.)
Luxury labels have given way to subtle branding.
Decadent glamour has shifted to simple elegance. With the complexities of everyday life and business in the digital age, we crave simplicity and ease in our homes. We want to do less and be more. Being able to untether from technology and revel in time without demands or agenda is a key component in the new luxury.
Knowing the definition of luxury interior design and what clients are looking for in your interior design brand means you’ll attract more affluent clients. Richer projects means you earn more in less time with less stress and you’re building a business you truly love that serves and supports the whole of your life.
Get the blueprint to build and polish your interior design brand for luxury clients. “Marketing Luxury Design: Attracting Affluent Clients” is the one-of-a-kind guide book that makes it simple and successful.