So, is luxury really dead?
No. But it has been redefined by those in the category who have clearly rejected “social status” as a contributing factor to purchase decisions. They're buying fewer things of higher quality; they're shying away from disposables when they have a choice. They have replaced older values with contemporary new qualities such as the economy, sustainability, the environment and current cultural trends as top-of-mind issues affecting these decisions.
They're using new language. Attributes like uniqueness, know-how, design and performance have redefined “prestige.” Now it's “self expression,” not “status.” The New Affluents' brand choices evidence at minimum the demand for a new dialogue with them. Don't sell them a product. Offer them a brand. Better yet, a brand experience –
By Tim Arnold, from article published in 2010
At Provaltur, as exclusive affiliate of Christies International Real Estate in the Dominican Republic, are set to offer those experiences of a life time during the process of selecting, visiting and purchase a unique property in our island.