Product Mix Strategy: Think Luxury
If the recent recession nearly buried your company, you might want to look at your product mix strategy. Think: Luxury. Despite the economic collapse, sales of luxury goods remained steady. The number of affluent Americans (households with $100,000 annual income or more) continues to grow, up 75% in this past decade. Fourteen percent of Americans earned $100,000 or more in 2001 compared to just nine percent in 1990. Today, the number is approaching 20 percent. …