If you asked five different consumers for their definitions of luxury, you’d likely receive five very different answers. But for an increasing majority, having the luxury of time to relax and unplug is becoming more elusive than a Birkin bag. According to labor statistics, 70% of women with children under the age of 18 participate in the workforce. Between work and childcare responsibilities, a woman has very little down time—and when she does, chances are she doesn’t want to be confronted with in-your-face brand messaging. If time is the ultimate luxury, how can brands turn an intangible into an opportunity to connect with consumers?
1. Make Memories
Analysts believe that we’ve entered an age of the “experience economy” where luxury is measured according to the uniqueness of the experience and the emotional impact it can deliver. Brands that offer the opportunity to reconnect with family, friends, or step away from the stress of their everyday lives can offer consumers the feeling of uninterrupted time and connection they are longing for. For consumer goods, this may involve sponsorships at family events, music festivals, or other community happenings that bring people together and create a sense of membership and belonging.
2. Help Them Charge Up
In a recent survey on the sleeping habits of American adults, more than one third reported their sleep quality as poor or fair. It’s no surprise that for many consumers, stress and an always-on mentality make it difficult to shut off their minds when they turn off the lights. As a result, we’ve seen brands taking two different approaches to the problem of burnt-out consumers. Some brands are campaigning for consumers to slow down and be mindful and in-the-moment. We see this in the many of the “slow” movements among consumers (slow food, mindful parenting, etc…). On the other hand, we are seeing explosive growth in products designed to give consumers more energy to tackle all the things they need to do in their day. Millennials, specifically those 27-35, have emerged as the key consumers of energy drinks and shots. Researchers found that 64% of consumers in this demographic are consuming energy drinks—what’s more, a significant proportion of these consumers are women and moms! Clearly, women are feeling the pressure of not having enough time, or energy, in their lives.
3. And Recharge Too
As people feel more harried than ever, they will seek refuge in downtime when and where they can. Brands can help consumers make the most of those moments by creating products and services that help them to switch off and relax. At retail, this may involve creating environments that encourage consumers to linger and enjoy the space or access special in-store services. Travel destinations can offer opportunities to indulge in an immersive wellness package that’s unique to the individual.
As consumers endeavor to find more time to spend with family and friends, do the things they love, or complete their endless list of tasks, brands can become part of the conversation by helping them, instead of being one of their many distractions. Reach out to Women’s Marketing to learn how we can help your brand make a more authentic connection between brands and consumers.
Sources: U.S. Department of Labor and Statistics, The Future Laboratory, National Sleep Foundation’s Sleep Health Index, Mintel US Energy Drinks 2015