McCann Truth Central's New Tastemakers Council Report Reveals the Distinctive Culture of American Luxury

'Experiential Dinner Discussion' Develops New Insights into Evolving Affluent Consumer

07 Dec, 2015, 11:26 ET from McCann Worldgroup

NEW YORK, Dec. 7, 2015 /PRNewswire/ -- McCann Truth Central, McCann Worldgroup's global thought leadership unit, today released the results of its Tastemakers Council Report No. 2, an analysis of the cultural tensions facing the luxury category. The findings reveal that luxury in America has a distinct culture as upscale brands navigate an increasingly mass-market high-tech world. The report is generated by the McCann Tastemakers Council, a semi-annual gathering of innovators, thought-leaders and marketers from the luxury space.

"Many brands are grappling with what it means to offer true luxury in today's ever-connected world and achieving the right mix between the old guard and the new progressives," said Nadia Tuma, SVP and Director of McCann Truth Central. "As more consumers are exposed to luxury lifestyles on a mass scale, brands must think very carefully about their strategies in order to accurately reflect their uniqueness in the market."

The McCann Tastemakers Council Report No. 2 focuses on four themes:

  • The definition of American luxury on the global stage;
  • The delicate balance between creativity and commerce;
  • The evolving values of the affluent consumer; and
  • Remaining personal and high-touch in an increasingly mass-market high-tech world.

Key Findings:

American luxury is unique

  • There is regional uniqueness to American luxury
  • Core values of freedom and individuality are informed by an absence of age-old heritage and tradition, creating an environment of disruption and innovation
  • American luxury brands can leverage the country's melting pot of cultural references to create a new view on luxury

Luxury is an experience, not a single item

  • Beautiful possessions mean only as much as the meaningful experience tied to them
  • Affluent consumers are increasingly focused on the ethical, environmental and diverse underpinnings of their luxury goods
  • The evolved affluent consumer is interested in the philanthropic efforts of the brands they support, particularly in the luxury space

In the digital world, luxury must actively encourage exclusivity

  • Luxury brands retain their exclusivity across digital and social platforms by offering limited, high-quality experiences
  • Whether offline or online, transparency is embraced as a guiding principle
  • The more mass media is used for the wider public, the higher the bar is raised for luxury brands that target consumers who wield spending power

Continued Tuma: "By examining the macro-cultural forces affecting luxury today and into the future, we can pull those threads through to address brand challenges across many categories."

The McCann Tastemakers Council, led by Tuma, consists of a carefully selected group of innovators and influencers in the luxury space, with backgrounds including travel, hospitability, fashion and digital. The Council convened for the first time at the McCann New York offices this fall for an experiential dinner and discussion about the cultural questions facing the luxury category. The evening's conversation was distilled and compiled into the second McCann Tastemakers Council Report for the purpose of providing provocative strategic insights to brand leaders seeking to understand today's consumer aspirations from a macro-cultural level.

The report is available upon request.

About McCann Truth Central

McCann Truth Central, the global thought leadership unit of McCann Worldgroup, is committed to uncovering the world's hidden truths and investigating the topics that matter most to marketers and brands. For more about Truth Central or to access Truth Studies about Global Brands, Moms, Mobile, Shopping, Wellness and Youth to name just a few please visit: http://truthcentral.mccann.com/studies

About McCann Worldgroup

McCann Worldgroup, part of the Interpublic Group (NYSE: IPG), is a leading global marketing services company with 24,000 employees in more than 120 countries, comprising McCann Erickson (advertising), MRM//McCann (digital marketing/relationship management), Momentum Worldwide (total brand experience), McCann Health (professional/dtc communications), CRAFT (global adaptation and production), UM (media management), Weber Shandwick (public relations), FutureBrand (consulting/design), ChaseDesign (shopper marketing) and PMK-BNC (entertainment/brand/popular culture).

SOURCE McCann Worldgroup