Know-How Exchange : Student Questions

Dear Linnéa.

How would you define the term “weekday luxury”?
A: "A little bit of mid week heaven©"

How do you think the term “weekday luxury” could be conveyed to consumers?
A: "A little bit of mid week heaven©"

What impact do you think the concept and the phenomenon could have in the future?
A: It could be pretty powerful, more so if you term the phrase as a "Wednesday Reward©"

Do you think that lifestyle and generation plays a role in consumption behavior when it comes to bring a silver lining in everyday life?
A: Yes. And disposable income plays a major role in this.

Is there any motivation behind the mindset “I’m worth this”
A: Yes, because it can be seen as a reward or a gift to one's self.

How could stores and brands use this mindset?
A: The answer to this could be a book in its own right.

Do you think the big cities consumption of “weekday luxury” differs from smaller cities?
A: Yes, because there's a perception of more choice in a large city.

Do you think a brands image has any significance in the choice of product or service when you shop with the motive of “weekday luxury”
A: Yes. Name recognition and giving one's self a treat fall back onto the "I'm worth it" ideal.

What do you think is the future of branding and value creating?
A: This will always depend on the relationship created between the thing and the consumer. Until there's a relationship, there's no brand.

We live in an experience society today; do you think this is linked to self-fulfillment?
A: Yes, because for many people, life is pretty shallow.

Do you think that “weekday luxury” –shopping is based on impulse conditions?
A: It could be. But less so if "a little bit of mid week heaven©" is planned.

What do you think is the reason for impulse buys? What kind of satisfaction is the consumer looking for?
A: Mostly? Boredom and product positioning at the point of sale.

Has the economy significantly impacted the amount of “weekday luxury”?
A: It rather depends on the luxury and the income of the person buying it.

I hope this helps.

Gary Bloomer
Wilmington, DE, USA

It seems to me that the term "weekday luxury" is already dated (as in outdated). Isn't it really 24/7 luxury?

People with the means - time and money - can always have any level of luxury they desire, and they get to define what luxury is to them on a case-by-case basis.

Overlaying a term on any market segment can be just a "pop" exercise.

Sorry if this isn't what you want to here.

Steve

Hi

I disagree with Steve Byrne – Weekday vs Weekend in a 24/7 Mon – Sunday culture does not mean that the concept of definable leisure time or time set aside for religious observance does not exist. As a term, weekday discretionary luxury activity or purchasing, is properly defined as something rather nice to do or buy on a day when you would normally be working.

Weekends are still set aside for leisure in a most cultures, with only retail, leisure and emergency staff working. Most countries also observe to one extent or another a day of religious observance (Usually Saturday, Sunday or Monday), when depending custom and local law, most things close down and in many areas, even if commercial enterprises opened they would be poorly attended (or burned down)

So the idea of a luxury item devised and marketed for purchase on a weekday is to my mind perfectly valid. Such items already exist and canny retailers have turned the mundane into the necessity purchase for time starved office workers. For instance, typical luxury weekday items would be expensive brand items in boutique city stores in the financial district. These places make about 55% of their sales before 9.00 am, between 12.00 and 2.15pm and after 5.45pm through to about 8.00pm. Morning and lunchtime experiences are bolstered by loss leaders such as low-price coffee whilst browsing. Evening sales are another matter – they are usually last minute necessities and guilt purchases to say sorry to a loved one for being away too long. TLC from the staff encourages expensive impulse purchases and leave the punter feeling good and inclined to return.

Sophisticated POS information in city convenience stores also allows them to take care of odd demographics – these places charge a premium price for good quality items which could be purchased for 40% less in a supermarket, but obviate the need to drive to one. Evening ready meals, drinks, chocolates, flowers, cosmetics and hygiene accessories are common.

One oddity was that a major supermarket (Tesco I think) noted a burst of sanitary towel and nappy purchases at around 8.30 pm in it’s superstores. Analysis of data from their loyalty card (Dunnhumby & Co) showed surprisingly that the purchasers were AB1 (In the old categorisation!) men who also bought wine and sometimes food.

They were so called “New Men” fulfilling their father and husband roles at the last minute on the way home.

By stocking financial district stores with of all things, tampons and nappies, for which they could charge a 40% premium, they caught these people near to their place of work, with more time on their hands and saved them from finding a parking space for their Ferrari in the local supermarket back home. They made a fortune out of this – one store went from selling nearly no tampons to selling about 900 a day – mostly to wealthy men!

Weekday Luxuries are all about identifying niches which present themselves in the working week but which assume less importance at the weekend. They are activities which take little time, almost no inconvenience, provide satisfaction and offer gratification .

From expensive coffee lounges to lunchtime massage to luxury boutique shops, the opportunities are there but spotting them is rather difficult because surveying prospective customers is problematic.

Those who will talk tend to exaggerate and are not really the target audience (WPP research) and those who are the target audience are time-poor and hard to pin down. Market researchers would be better served interviewing people at their place of work or via a social website or asking Tom Parker-Bowles, Aaron Simpson or Ben Elliot of Quintessentially as they probably knows all the answers already (For a price)!


Steve Alker
Xspirt