What affluent consumers want

In Singapore, talk-value is the new luxury; in Hong Kong, flashiness is out and subtlety is in while in India, "I've made it" is the new clarion cry.

American Express discovered five insights "Inside the Affluent Space" in Singapore.

1. "Talk-Value" is the new luxury: Luxury is moving from the tangible to the intangible of story, experience and emotional value.

2. Passion has no price: When it comes to fulfilling a personal passion, money is no object - the anticipation, the pleasure and the memory of fulfilling a personal aspiration is a new form of luxury that is priceless.

3. The new definition of exclusive is "made just for me": Exclusivity doesn't mean "owned by a select few" anymore - the new definition of exclusive is "one of a kind and made just for me".

4. Privilege is not having to think: Affluent customers seek freedom from the complexity of luxury choices and embrace deep relationships with providers that deliver not only "the best" but equally important, "the best for me".

5. The ordinary is precious too: 24/7 luxury is passé, and affluent consumers are "taking a break" from the extraordinary to enjoy ordinary pleasures in a confident and relaxed way.

In Hong Kong, the study noted the rise of a new consumer - the connoisseur - and shared five insights into his or her mindset.

1. Discovery is the new luxury: The connoisseur wants to be "smarter" about luxury and discover new knowledge before others to acquire discerning luxury expertise - the new "social currency" exchanged for prestige, recognition and distinction.
   
   
2. Flashiness is out, subtlety is in: The way to stand out in Hong Kong today is through understatement and a sophisticated appreciation for perfection and details - "affluence" is harder to see, but apparent if you know what you are looking for.
   
   
3. New sophisticated eyes see luxury in the everyday: The sophisticated connoisseur is looking for ways to find or create luxury in everyday aspects of their lives - big and small - from shopping to dining to leisure.
   
   
4. Inner wealth is the new asset of the affluent: Wealth isn't just about materialistic possessions anymore - the emerging connoisseur seeks to build "well-being assets" such as health, connectivity with family and friends and new personal skills.
   
   
5. Time isn't money, it's gold. The new Connoisseur is redefining affluence; affluence means possessing the luxury of time to appreciate his affluent lifestyle and getting more involved in many aspects of living it.

In India, the five insights driving the affluent space are:

1. Brand Me Affluent! Possessions and persona symbolise affluence: More affluence and more access are creating a lifestyle competition among India's affluent.
   
   
2. Nothing but the best: Simple is only relevant in the affluent lifestyle when connected to "simply the best" in every aspect of their lives. Even the ordinary must be special.
   
   
3. Luxury is having the world at my fingertips - first: The explosion of international and Indian brand choices is changing luxury, exclusivity and mindsets. Now it's "if I want it, I can get it and it's exclusive only if I'm among the first to have it".
   
   
4. "Ethnic Chic": Blending the best of both worlds: Affluent customers are blending indigenous Indian brands and global luxuries to create a distinctively unique - and very Indian lifestyle experience.
   
   
5. You think I'm demanding? Next! No exceptions, no apology is the mantra of India's affluent in their demand for recognition, respect and no-flaw delivery of their affluent lifestyle. And no forgiveness, either.

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