This recession has been nothing like past recessions. One big reason why is the the amount of the financial sector that's been effected.
Think of all the high net worth people employed by Lehman, Merrill, JP Morgan, Goldman Sachs, etc.How many are out of work? A lot. And the rest are having government regulators look at their pay.
These wealthy consumers still have money, but they have to be shown a combination of value, price and quality before they'll make a purchase. I read recently that these consumers still want the quality they're accustomed to (think Ritz Carlton), but they want it at a lower price.
Quality must be combined with an effective value proposition to make these buyers feel they're getting a good deal.
They don't want to sacrifice the luxury to which they've become accustomed, but want to feel they got a price break.
Something to keep in mind as you market to the rich.
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