Silverstein and Fiske continue to make their case that, “… it is clear consumers around the world are willing to pay a premium for goods they believe deliver better quality and higher performance, along with emotional benefits, than do conventional goods.
Research indicates the Trading Up phenomenon is not limited to the United States. Japan, United Kingdom, Spain, Scandinavia, and most other Northern European countries are also experiencing similar shifts in consumers trading up to new luxury goods.
Furthermore, the authors contend, Consumers today have more discretionary income, more cash, more product knowledge and more sophisticated tastes, and have far more product choice than ever before. We believe that consumers will only grow more discriminating in their purchases. They will trade up and trade down, with great care, in every category of goods.”