Masstige: Luxury for the Masses...

I've always find it interesting to learn new terminology that help better explain consumer behavior. I was recently talking to a marketing friend and he brought up the word "Masstige". *This post is for you marketing people out there

Harvard Business Review recently defined "masstige" as the goods and services that occupy a sweet spot between mass and class. Basically they command a premium over conventional products but may not always be positioned at the top of their category in price.

You can see alot of these brands and products, such as The Body Shop, Sephora, CK, and Coach, are slowly gaining alot of popularity in the market. A phenomenon where prestige goods meet mass-market ones.

Its so true, nowadays, I can find designer labels at Wal-Mart & Costco. I think people are likely to spend a bit more money to have that feeling of prestige. This is definitely good movement as we begin to appreciate design and quality. As consumers become more aware know how to create an image without forking out tons of money, contrary to what most think.

We need keen eye and pick knockout items that cross economic lines. They might not be the latest designer products, but they have the look and feel of being expensive.