Treasure Hunt Soundview Executive Book SummaryIn his previous book, Trading Up:Why Consumers Want New Luxury
Goods –– and the Companies that Create Them, Michael J. Silverstein
defined an emerging “new luxury”category of goods and services. That
segment’s growth subsequently exploded from $400 billion in 2003 to $605
billion in 2005. Now, in Treasure Hunt:Inside the Mind of the New
Consumer, Silverstein explains why there is even more volume and momen-
tum in the fast-growing “treasure”segment.
Through detailed, individual spending portraits of middle-class consumers, Silverstein explores the story of how people around the world are
reshaping the consumer-goods market by trading down to low-price products and services, trading up to premium ones and avoiding the boredom
and low value that increasingly characterize the middle.
The process resembles a treasure hunt for goods and services that may
be cheap or dear, technically sophisticated or whimsical, basic or feature-
laden but always functionally and emotionally significant. The consumers
driving this change are mostly women, who have a sense of purpose and
power when they buy and use goods and services.
This summary reveals how treasure hunting, and the trading up it
enables, are causing the entire $3.7 trillion consumer-spending marketplace
in the U.S. to bifurcate. It also provides capsule analyses of companies who
are successfully leveraging this transformation for profit and those caught
in the middle-market death squeeze.
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