Book: Trading Up: The New American Luxury

Book: Trading Up: The New American Luxury

by Michael Silverstein; Neil Fiske

The “trading up” phenomenon is the American consumer’s need for defining his individuality through the products they choose. Not just luxury goods for the wealthy, this book illustrates with numerous examples of middle class consumers who will splurge on one item that is important to them such as Starbucks coffee, world-class golf clubs, or a BMW. Very interesting read that rings true to these times. Some good case studies of how companies including Victoria’s Secret, Starbucks, Williams-Sonoma among others have created an emotional appeal to their buyers who are willing to pay a little more for these brands.