Survey Results : Luxury

A few months ago, we asked CustomRetailer readers to take our Luxury Survey.

Names such as Gucci, Prada, Rolls Royce and Bentley conjure up images of lavish lifestyles and luxury brands that are out of reach for most of us. For a privileged few though, jet-setting is a way of life. Luxury is defined as expensive and desirable, but not necessary. S

ome luxury clients of CustomRetailer readers think nothing about installing $50,000 golf simulators to entertain themselves on rainy days. Home automation goes way beyond lighting control and security for the very wealthy. Many electronic systems contractors never actually meet the client, but instead only deal with the estate managers, personal assistants or other staff members. Their architects or designers may drive the entire planning process.

To find out more about your experiences with the high-end luxury customer, and to share information with your fellow CustomRetailer readers, the following survey was conducted using Zoomerang, a nationally recognized survey company. The confidentiality of your responses is assured.

1) How do you define a “luxury” installation compared to your “good-better-best” projects?
82% of you cited a dollar amount for the project. 20% defined it by the number of rooms. About half of you said it was defined by an acoustically designed theater and home automation. 42% of you said it was a system that included lighting and 18% said it was a system that included security.

2) What percent of your business would you define as luxury?
Approximately 30%-40% of your overall business is luxury.

3) What luxury audio, video and custom installation brands do you carry?
You carry such names as: Mark Levinson, SIM2, Runco, Revel, BelCanto, Meridian, McIntosh, Rives Audio, B&W, Krell, Theta Digital, Crestron, Kaleidescape, Halcro, Triad, Control4, Savant, AMX, Stewart, Da-Lite and CAT.

4) What luxury audio, video and custom installation brands would you like to carry?
Some of the brands you would also like to carry are Sunfire, Crestron, Runco, Meridian, ADA, Vantage, Wilson and Wisdom Audio.

5) Where are the luxury systems installed?
92% of you cite the primary residence. 45% cite secondary residence or condo. 39% say resort or vacation home. 11% say yacht.

6) Tell us about your luxury customer.
Approximately 60% are baby boomers followed by 30% young families, retirees and singles.

7) What do they do?
Overwhelmingly, they are some form of professional; many work in finance. Others professions mentioned with regularity are doctors, industry leaders, attorneys, stockbrokers, golfers and the independently wealthy.