Retail Observer

AUGUST 2021 RETAILOBSERVER.COM 33 explored luxury consumer behavior. Ultra-High Net Worth (UHNW) individuals are each worth $30 million or more, with a worldwide wealth of $35.4 trillion. If they were a country, they'd be the world's largest economy. Significantly, about 38% is liquid – spendable, not tied up in stocks or long-term investments. They care about good value, not getting ripped off, not wasting money, and enjoying their homes and family. The difference, of course, is virtually unlimited resources. Suppliers of luxury must offer freshness, world-class service and a deep knowledge of their specialty. THE LUXURY CLIENT/DESIGNER RELATIONSHIP Any client-designer relationship is delicate – especially in the luxury realm. Wendy Cohen, CEO of Power House Smart, a networking and education community for luxury leaders, discussed the nuances with designers Vicky Serany, founder of Southern Studio Interior Design in Cary, N.C., and Jan Neiges, CMKBD, Highlands Ranch, Colo. "It's our job as designers to make clients feel as if they are our only client," said Serany. "We ask lots of questions, we look at the client's timeline, vision and budget, and they must all align, otherwise someone isn't going to be happy." "Build that core relationship and solve their challenges," Neiges added. "Communicate a lot, consider the pros and cons of a product or idea, discover what's really important to the client, and stick to your process. And treat all your clients like your Grandma." MODERN LUXURY KITCHEN: DESIGNING WITHOUT RULES Anne-Marie Brunet, CMKBD, principal designer of Sheridan Interiors in Cornwall, Ontario, and Peter Salerno, CMKBD, Wyckoff, N.J., spoke with NKBA VP of Marketplace Pamela McNally about choosing the unexpected: finishes that are layered and unique; artisan creations for decorative as well as practical applications; a mix of unusual materials; customized handles and hardware; and reconfigured space achieved by removing walls and claiming square footage from other rooms. Gaining the client's trust is critical, because when the homeowner trusts the designer, there's a greater willingness to take a chance on the unconventional. NKBA RENOVATION ANGEL LUXURY KITCHEN RECYCLING AWARDS In the second edition of these awards, produced by Renovation Angel, the nation's largest upcycler of luxury kitchens, in collaboration with NKBA, Steve Feldman, Renovation Angel's CEO, presented honors for Achievement in Repurposed Kitchen Design, an Angel Discretionary Award and Achievement in Luxury Recycling, including the most valuable kitchen donated – $78,415 – to Wettling Architects. THE LUXURY KITCHEN DECONSTRUCTED Luxury marketer Susan Brinson of House of Brinson explored key design elements with Sarah Roberston, AKBD, of Studio Dearborn, Mamaroneck, N.Y., and her client, Carla Zinman, founder of Round Hill Design, Westchester, N.Y. "Most Important: Invest the time to get to know the client, the space and how the client lives," said Robertson. Tailoring storage to specific needs keeps everything neat and easy to maintain – it streamlines preparation and cleanup and contributes to the overall luxuries of time and serenity. LUXURY CLIENTS: HOW DO THEY THINK? Karen Brandon, Senior Marketing Manager of Luxury Appliances at Nationwide Marketing Group, talked about the mindset, habits and attitudes of the luxury client and how to appeal to them. She broke it down by the acronym VALUES: Versatility, catering to clients' function and lifestyle needs; Availability: Always be available to clients; Lasting Guarantee: It's a big investment – it had better last; Uniqueness: Design personalization and things that are exclusive, limited and rare; Evolving: New audiences continually enter this market, especially the HENRYs (High Earners Not Rich Yet). This is a key target audience. Get to know them, their values and priorities, and where they shop and research: online and in social media; Sustainable and Smart: This audience highly values green products that don't leave a big carbon footprint, and smart appliances and systems that can be app-controlled from a mobile device. THE ROLE OF MARKETING/PR IN DEVELOPING YOUR NICHE Erik Perez, founder and principal of Hello PR, Los Angeles, discussed best practices and strategies for building a marketing plan that will attract the high-end consumer, along with Brendan Flanigan, designer and owner of Brendan Flanigan Interiors in Saratoga Springs, N.Y., and Manhattan. Marketing starts with listening to the client to create an authentic, original experience. In this digitally based world, Instagram is a critical platform for designers to showcase their work, as is a comprehensive website presence. Tic-Toc and Clubhouse are growing in significance, but for the client who might not be into social media, print is also important. LUXURY: WHAT IT IS – AND WHAT IT ISN'T It's not just about money. Danielle Garofalo of REALM Global moderated a discussion with Alyson O'Hanlon, CKD, owner of Clive Christian Kitchens NJ, and Nar Bustamante. O'Hanlon observed that years ago luxury was basically about cars and hotels – and the kitchen was relegated to the back of the house, whereas now it has become the gathering place and showpiece of the home. Most people think luxury is unattainable, Bustamante added. And while it's about highest-quality products, it's also about spaces that are intentionally created for the particular client. All of the sessions from the NKBA Summit: Luxury Defined are available on-demand for NKBA members at no additional charge, while non-members may still access them for $99. Please visit www.nkba.org for more details.

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