Work is becoming more and more demanding nowadays. I have been out on client calls the past few days and find myself in odd areas like Kwun Tong (industrial area in Kowloon) and Cyberport to meet with an ad agency. I have to work twice as hard and see more clients to make this project happen. I just hope all the walking is helping me burn some calories at the very least.
There are different views about the current economic situation nowadays. Some clients are becoming more open about spending while some have really tight budgets. Moet Hennessy, for example, is 30% short of their targets and are careful about sponsorship. Seems like not many people are drinking champagne nowadays... and so the term, "affordable luxuries" came up. Consumers may scrimp on their Veuve Clicquot but will still get a bottle of sauvignon or New World Wine.
Even favorite websites Purseblog developed a section called PB Savvy while BagSnob has FrugalSnob. Appropriate for the times! People don't mind spending if they think they are getting a good deal or saving a couple of bucks. Private and sample sales are sprouting all over the city now and I still see women grabbing things they don't really need as long as the product screams the logo or the discount is more than 50% off. I plead guilty to that (good thing I didn't go to Dior, Shanghai Tang and Furla sales or else I would have collected more junk)!
On the contrary, Purseblog writes about the increase in sales of Hermes bags during the first quarter. Thanks to the Koreans, Japanese and Chinese who are not wary about spending! I guess they think a Birkin is an investment. When push comes to shove, one can resell them at Milan Station anyway. Before you know it, pawnshops will start accepting bags too! Crazy huh?
I guess people still feel the need to reward themselves after a long day at work. Whether it be with a glass of wine or some retail therapy at a store that spells SALE on their windows. Weekends are still spent eating out in a restaurant, maybe not at Nobu but at an affordable Japanese resto in Mongkok. Skiing holidays in St. Moritz are probably replaced by a weekend at Niseko, which is not cheap but more affordable than flying to Europe. That's why catering to the luxury brand market is tricky nowadays. More strategy is involved... smarter tactics should be considered.
I just woke up from a dream about magazines and ads this morning. I guess I have been thinking of work a lot lately (and the stuff I want to buy if I reach my target). Good thing it's a holiday tomorrow so I can spend time with baby. Just hope I don't end up shopping...
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