Mercedes-Benz, WGSN Report on 'The New Drivers of Luxury'

NEW YORK, Feb. 11 /PRNewswire/ -- As the world of fashion turns its attention to New York for Mercedes-Benz Fashion Week, the familiar question on everyone's lips is what's next for the luxury market and fashion industry?  

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Mercedes-Benz in collaboration with WGSN, explore The New Drivers of Luxury, a market intelligence report combining Mercedes-Benz customer survey data on clothing purchase behaviors with key macro trends that are shaping the design industry.  

The report defines a refreshed luxury environment emerging from the current economic climate, where consumers are placing even greater emphasis on seeking value, quality, craftsmanship and experience from the brands they shop.

"Designers and stewards of luxury fashion brands can expect consumers to push the envelope in 2010, seeking more value for their money," said Claire Hamilton, US editor of retail and consumer research for WGSN Think Tank.  "Pricing is still going to be a factor, but quality and craftsmanship are at the forefront of the value equation, while also connecting design on an emotional level."

Among 196 individuals polled for the report from a Mercedes-Benz online community of Gen Y consumers, 55 percent "strongly agreed" that when making a clothing purchasing decision the item should be "modern with classic design that can be used for years to come" compared to 36 percent that disagreed with the notion that the item is the "best money can buy regardless of the price."

Eighty-two percent of this same online community said if handed a gift of $5,000 that could only be used towards clothing, they would purchase one or two special items that will stand the test of time rather than maximizing the money on quantity.  

"Luxury buyers are willing to spend, but an approach to being more selective and purchasing in fewer categories will continue," said Kristi Steinberg, manager of market research and strategy for Mercedes-Benz USA.  "Today's value-conscious consumers need ammunition to justify making high-dollar purchases and our research shows that brands and products with timeless appeal and long-term functionality are highly attractive given market conditions."

WGSN captures this notion in a Macro Trend called "Timelines," a design strategy that connects the past, present and future – where craftsmanship, heritage and a respect for past values is incorporated in design while embracing new technology.  When the online community of Gen Y respondents were asked "what one word best describes great fashion design," 42 percent said "CLASSIC," followed by 23 percent that chose "MODERN," 18 percent that said "UNCOMPLICATED," and 17 percent "UNIQUE."

The report reveals that the largest increase in 2010 for future spending planned among those surveyed go to footwear and vacations followed by home décor and fashion/apparel.  Almost 70 percent of respondents plan on making FIVE or more clothing purchases during the next six months and 36 percent plan on making more than TEN clothing purchases over the same time period.

For a copy of the full report, visit www.media.mbusa.com

About The Survey

On January 21, 2010 an email was sent out to the members of two online communities: Mercedes-Benz Advisors and Generation Benz prompting participation in two survey polls, a survey activity and a discussion board relating to fashion purchase decisions.  The polls, activity and discussion were hosted from January 20, 2010 to January 28, 2010.  The survey polls were featured as a mandatory event, prompting any member to answer the polls upon login.  In Mercedes-Benz Advisors the polls garnered a respondent base size of 526 unique respondents (78% male / 22% female 41-50 years old).   In the Generation Benz community, the polls garnered a respondent base size of 196 unique respondents (72% male / 28% female 30-31 years old).  Results were delivered un-weighted in the form of frequencies and percentages based to total respondents for each community.  The survey was administered by Think Passenger Inc.

About WGSN

WGSN defines and shapes winning style and design.

With proven global authority, WGSN identifies and analyses current and future trends, creating online tools that can be put into action to power their customers' commercial success.  WGSN enables those who need to see, think, and act on consumers' evolving wants, needs and behaviors to create brilliant products and services. www.wgsn.com

About Mercedes-Benz USA

Mercedes-Benz USA (MBUSA), headquartered in Montvale, New Jersey, is responsible for the distribution, marketing and customer service for all Mercedes-Benz and Maybach products in the United States.  MBUSA offers drivers the most diverse line-up in the luxury segment with 12 model lines ranging from the sporty C-Class to the flagship S-Class sedans and CL coupes.  

MBUSA is also responsible for the distribution, marketing and customer service of Mercedes-Benz Sprinter Vans in the US.  More information on MBUSA and its products can be found at www.mbusa.com, www.maybachusa.com and www.mbsprinterusa.com.

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Media Site:  www.media.mbusa.com

SOURCE Mercedes-Benz USA