Luxury Trends: Added Value and Sustainability

Current trends in the luxury industry show obvious effects of the last few years of recession spending. While there have been increases in luxury spending over the last few months, shoppers in a multitude of industries from technology to real estate to food are looking for great deals on the luxury items that they want the most.

Luxury real estate prices are on the rise, so shoppers need to be sure they’re shopping the right neighborhoods and homes, before they take the plunge.

According to a recent article from USA Today – shoppers are opting in for luxury items, but being more practical for the ones they choose.

Says one luxury shopper, Steve Hundley: "We don't need the Jaguar or cruises to the Baltic," says Hundley, who at 56, is semiretired following a heart attack two years ago. "But cooking healthy food is a big priority."

Americans are dipping their toes back into the luxury pool — but with a mindset that's been smacked down and radically reshaped by the recession, the lure of new technologies and emerging lifestyle twists that are often as much personal as cultural.

"The luxury brands are all trying to reinvent themselves and deliver a better experience," says Milton Pedraza, CEO of the Luxury Institute, a research firm that consults for designer brands. "Apple is making all these companies rethink their business models."

“…  New luxury is about investing in a lifestyle experience that not only can help improve health but also escalate the experience …”

When investing in a luxury item, like your new property, keep in mind the value-added benefits like eco-minded cabinetry and sustainable construction that can keep your home green and beautiful for years to come.