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Luxury Brands Can Survive Thanks To New Millionaires

The world market is full of luxury brands once again which had gone away for a short break in the recession. This market took a hard hit in the recession of the last few years. People no longer bothered with luxury watches clothes or even holidays. They were busy saving up money for themselves.  In nearly all the markets you will find luxury items. There are cheap, expensive and luxury categories of branded items. Everything from clothes, shoes, homes and electric gadgets and even services have a luxury brand.

New millionaires are coming up in developing economies lie china and India and this has increased the number of people opting for luxury branded items.  Other economies are also increasing their number of wealthy people, with properties in various markets all over the world. With the recovery of the economy of the world, a lot more people are wealthy and with this number on the increase the market will have a lot more people buying luxury brands.

One thing you have to realize about the people who just struck it rich is that they are going to be showing off their newly found fortune in luxury brands it is in a rush to get themselves the best of everything, what they have never been able to have because they did not have the money and so forth.

These new rich are young and inexperienced and this is going to lead to a new frenzy of buying and buying of luxury  brands, not necessarily for the quality of the items, but to ‘feel’ their new status and mostly to show off to others who do not have. If you have seen the newly successful of celebrities, football stars and businessmen, you will have an idea of what this means.

While it does not matter so much to them that buy these luxury brands, it matters a lot to the marketers of these brands that the new rich buy these items. Why this is so is that these people often have a hold over the market and as a marketing strategy, these items are marketed to the new rich and most importantly the old rich. The old rich have gotten used to these brands and are not as excited about them as the new rich.

Through marketing their luxury brands to exclusive rich- only events, the marketers of these brands have succeeded in taking over the new rich who in turn help them to market their items and to prevent them from being lumped together with the ordinary market items. The new rich, on the other hand are having a great time enjoying their new found fortune, with more than enough press attention.

The mentality used by the marketers is pretty simple. If it is the first time you are enjoying a service, you will be more enthusiastic than a person who is used to being pampered all his life. This makes the experience of a person who is newly rich different and better than if he was not rich. This helps to sell the luxury brands to the bored rich in the market.

This article was written by Alexis.

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