by Michael J. Silverstein & Neil Fiske
Premium goods – who buys them and why. That’s this book. Emotionally important products demand a premium price, while the same shopper will seek out bargains on commodity items or products that lack an emotional appeal. The authors predict the market for new luxury items will be $1 trillion just in the U.S. by the end of the decade. They talk about New Luxury goods as a language, “a nonverbal method of self-expression and social change.” Many also want to buy goods that reinforce their good intentions toward the world. Are you ready to trade up? At least, read the book.