Personal Luxuries Market Research Study
Source: www.unitymarketingonline.com
Topic: What Not To Wear
Sort Desciption: Reality TV Rescues Fashion Flubs with TLCs What Not To Wear ... The BBC was first on the scene with its What Not To Wear show ...
Content Inside: 07/12/04DRAFT Unity Marketing 2004 2 Chapter 1 Personal Luxuries Market Research Study Who Was Studied: Methodology& Research Summary Industry Overview The business of looking good is a major contributor to the U.S. economy. The market for clothes jewelry and fashion accessories and fashion services such as dry cleaning totaled $405.5 billion in 2002 while consumer expenditure on personal care articles including cosmetics and spending on beauty parlors barbershops and health clubs reached $97.2 billion. While food clothing and shelter are thought to be basic necessities of life the reality is most clothing purchases are driven by fashion (i.e. a luxury desire) not need. For most Americans today our closets are full and we simply don't need to shop for clothes. Since we don't need any more new clothes we tend to look for justifiers that give us permission to buy such as needing a new outfit for a special occasion or finding something really great on sale. Clothing is no longer part of the basic necessities of life. For most of us clothes and fashion are luxuries that make our lives more pleasurable more fulfilling more exciting more rewarding and more fun. Personal Consumption Expenditures (in $ millions) 2000 2001 2002 % Chg '00-'02 SOM '02 Total personal consumption expenditures 6739.40 7045.40 7385.30 9.6% 100% Food and tobacco 1003.70 1047.80 1094.80 9.1% 14.8% Clothing accessories and jewelry 397 396.8 405.5 2.1% 5.5% Personal care 93.4 94.3 97.2 4.1% 1.3% Housing 1006.50 1073.70 1144.60 13.7% 15.5% Household operation 719.3 738.4 748.3 4.0% 10.1% Medical care 1218.30 1322.80 1436.60 17.9% 19.5% Personal business 539.1 539 564 4.6% 7.6% Transportation 853.4 874 876.7 2.7% 11.9% Recreation 585.7 603.4 633.9 8.2% 8.6% Education and research 163.8 176.3 187.9 14.7% 2.5% Religious and welfare activities (s.) 172.3 186.1 202 17.2% 2.7% 07/12/04DRAFT Unity Marketing 2004 3 Foreign travel and ot ...
personal luxuries