Status symbol family

18. Dez 2008

Up until not so long ago prosperity was measured against expensive cars, fancy houses and luxury yachts. Now there is a change: Even top earners realise with increased regularity that affluence is more about family, fitness and recreation. This change also influences advertisement and public relations.

According to the „centurion luxury living index 2008“ – a current survey by American Express, Europe’s moneyed aristocracies values are changing. „Today’s top earners orient themselves by home and family“, explains Georg Frey, Country Manager of American Express Austria. Status symbols like modern jets or properties become less important. Well-heeled people invest their money more often in travels or health. They spend more on personal trainers or organic products. Even on vacation „eco“ is in vogue. 42 percent of the top earners want to spend their holiday as environment-friendly as possible. Eight in ten attach importance to obtain food products from nearby.

Even though they could afford it, the super-rich have an eye on the price. „Swank was important in the 20th century. Now everything is about experiences, self-actualisation and wellbeing“, Frey says.

In respect of this value change, promotion and public relation strategies are changing too. Current campaigns focus more often on family and wellbeing. „Light“ and „wellness“ are only some of the favoured catchwords, to exploit the constant health craze. In terms of price catchphrase such as „avarice rules“ also attract top earners.