By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Viking and Sub-Zero tied for top honors as the two “most prestigious brands,” according to a survey by the Luxury Institute. Wolf came in a close second, followed by Miele and Gaggenau.
The research group, headquartered here, based its findings on a nationally representative sample of more than 440 households with minimum gross annual incomes of $200,000 and a net worth of at least $750,000, representing the top 10 percent of America's wealthy.
The brands were weighed by their exclusivity, consistent superior quality, the enhanced social status they confer, their ability to make a consumer “feel special,” their worthiness of a price premium, and their erosion or enhancement as a luxury brand over the preceding 12 months.
On a scale of zero to 100, Viking and Sub-Zero scored 79, Wolf scored 76, and Miele and Gaggenau tied for third place with 73.
Other brands rated included Amana, Bosch, Char-Broil, Dacor, Ducane, Fisher & Paykel, Frigidaire, GE, Jenn-Air, KitchenAid, LG, Maytag, Monogram (GE), Vent-A-Hood, Weber and Whirlpool.
Brands were selected for inclusion in the survey by measuring awareness levels with wealthy consumers and using their advertising expenditure rankings in luxury print media to determine the most relevant majap badges.
“This category is hotly contested at the top,” said Milton Pedraza, CEO of the Luxury Institute. “Wealthy consumers care greatly about home appliances because they live with these brands daily and they represent the heart of the public home environment.”
“Although brand awareness is highest among women,” he noted, “today's modern wealthy men are also very involved in the category.”
For more information, call (646) 792-2669 or visit www.luxuryinstitute.com.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.