How will Donald and Melania Trump Impact Luxury Brands?

Wednesday, November 16th, 2016
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Photo Courtesy of People Magazine

Photo Courtesy of People Magazine

History suggests that America’s first families often have significant influence over the purchasing behavior of Americans and people around the world. This was certainly the case when John and Jackie Kennedy brought their sophisticated and affluent style to the White House, replacing the rather conservative, 50’s era style of the Eisenhower’s. (Tuxedos anyone?) Ronald and Nancy Reagan brought Hollywood glamour to Washington—an obvious departure from the homey style of the Carters. (Oscar de la Renta and Bill Blass certainly benefitted.)

And now, Donald and Melania Trump are bringing their lifestyles of the rich and famous to the White House, and, let’s face it, the Trumps have never been shy about the media. This begs the question: How will their affluent, opulent way of life influence luxury brands and spending on upscale goods and services?

Here are some questions that are on my mind – and probably yours as well:

  • Will golf make a resurgence after years of decline?
  • Will private planes make a comeback vis-à-vis fractional ownership and leasing?
  • Will real estate investing spike increased interest?
  • Will financial advisers who can more aggressively navigate the tax code, as Donald Trump has, be in greater demand?
  • Will Melania’s high-fashion taste featuring European brands be more in vogue than Michelle Obama’s J. Crew sensibilities?
  • Will power suits, ties and more conservative men’s attire increase in popularity?

 

These are just a few of the questions that will be answered over the next few months, and during the Trump presidency. But one thing seems certain, the rich will get richer, and smart marketers should be thinking about how to leverage this unique opportunity.

If you think there’s a trend you can capitalize on, let’s talk. I’d love to hear your thoughts.

 

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