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Well next time you're shopping at TJ -- don't be surprised if you run -- -- prince hairy and they check -- line.
The uber rich or bargain hunting to Kristen -- president talented blonde joins me now without the rich are spending their Dell.
So survey from Luxury Institute -- look at people with net worth -- five million and more and they say.
They see a trend towards people buying less in the way of luxury goods -- -- -- the times.
That you know that there really super duper fancy BMW this kind of stuff doesn't hold the allure any more than -- used to watch.
What depends on your talking to remember out with all due respect the Luxury Institute their sample size it's 504 people.
So it's not like -- -- Huge sample of the -- wealthy that saying you know we're not spending anymore.
You know I think you're having a rotation -- -- out of certain luxury goods and two different lecture he gets for instance.
Fine wine at restaurants and travel as opposed to kind pieces in hand backs.
It's possible I mean it and what we do you see in what I think is.
It really catches the wave here.
Is this idea that visible brand logos are uncool if you're really wealthy.
You know that big Michael cool words brand and maybe not.
And I think it's because a lot of those luxury goods makers have started introducing the winds.
That they're supposed to hit the mid price point so suddenly that doesn't seem so special anymore.
We are absolutely right you know -- gateway drug for a lot of these luxury brand it's something that's that's -- Less expensive with a very large logo slapped on -- it's -- true luxury brand lovers you know that's.
The blue boat so that's why you see the rise of -- Christen the top with just -- -- soul.
Or products unit has -- red stripe on the bottom.
Something that only you know -- every select the people of consumers knows that that's a luxury get as opposed to you know running around and it strapped on not.
Write your -- here's what they.
Here's what they found in this survey.
60% say the prices are too high relative to value in some of these goods and 50% out like products with visible brand logos as we said.
So what you -- -- people searching.
You know like.
The bag hangs up your shoulder it's a very different thing -- -- I hate how do you regard that what does it mean for retailers.
Well I think that -- term locks -- actually changing.
It's less about what you say when you Wear the brand and more about your lifestyle and what you can do while you're wearing the -- that makes any sense.
So private jets expensive vacations really fine wines.
You know you're looking at someone across the -- at Michael's having lunch drinking a great bordello.
You don't know what it as it could be Sutter home it could be enough fabulous for now -- you don't know how the consumer.
Really know -- Had a private jet on its idea -- president Chris listen this you know we we started by saying is it really a true -- take a look at these names Prince -- we mentioned in the -- he shop and -- TJ Maxx.
The man has a network of forty million dollars check it out.
He's his wife is buying shirts for -- the cost so that he wore out when he was campaigning his net worth 250 million.
And then hiding clue that worth seventy million she shops at target Brittany spears shopping at Wal-Mart with a net worth the 200 million.
I think there's something to be said for this.
Clearly you know they're they're oppressed people called other press people and got the pictures out there right they're not trying to hide it they're proud of -- -- -- Britney shopping at Wal-Mart does not shock me sharing.
I -- do our -- -- all of you out.
Did she does were very classic I think -- other -- -- You know Sharon's down was really the founder.
-- you know of this whole ad -- high low dressing when she -- to the Oscars in her gap tee shirt and her -- weighing down.
And that kind of made it okay to you know mix high fashion and with with discounts in the thing is you know it's very cool to be savvy.
And if you look at companies like target -- made saving money cool.
And -- seek an -- it sexy so you know why shouldn't you be able to do that.
Art luxury companies are they -- to this and are they figuring out ways.
To really appeal to the very high end customer who can afford -- good.
Big yes they are and they're really trying to tune and and be a part of their consumers' lives on all levels you hear a lot about its omni channel happening at.
To turn its bandied about in retail where they're you know contacting them via Twitter FaceBook YouTube.
I had -- anyway they can possibly contacting connect the consumer but remember.
They also want to be exclusive.
So look at a company like -- -- the stock prices continued to hold.
And why is that -- man is never goes on sale you can hardly buy yourself even if you want -- so.
Exclusivity is key here.
I like the TJ Maxx I have to say all things can carry no costs go -- I played and I don't.
-- -- for coming on its -- appreciate Kevin -- thank you.
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