Regardless of where you get your news—whether print, online, broadcast or all three—you’ve seen and heard business, financial and political pundits point to signs that our economy is improving. It undoubtedly won’t recover as quickly as we all would like, but all indications are that we’ve turned a corner and that the worst is behind us. That said, the challenges we all faced over the past year can teach us some valuable lessons in terms of marketing to the up-market consumer.

There’s a natural inclination to believe the up-market consumer has been largely unaffected by the economic downturn. Not so! In this past year-plus of declining stocks and shrinking 401Ks, up-market consumers definitely have felt the pinch, too. As a result, they’ve become more cautious consumers, as well as more concerned about conspicuous consumption. They don’t want or need a “luxury” lifestyle 24/7. Instead, they’re perfectly content with making a true luxury experience an occasional versus an everyday thing.

Most research shows a change in consumer attitude, approach and action since the global economic downturn began. This change in thinking may well be more significant with the up-market client, given the disposable income they had. Let’s call it “Luxe in Flux.”

Most of all, this segment has evolved to prefer a more careful and thoughtful approach to their purchases. You won’t see as many impulse purchases among this audience, for the time being. Instead, in the travel and hospitality business, the affluent consumer today is far more likely to rank exceptional and enriching experiences above being blatantly recognized as a “VIP” guest. Similarly, these consumers are less concerned about a specific brand simply for the image or panache it carries. They are very open to paying more for a vacation experience that sounds ideally suited for them.

Meanwhile, the number of “great deals” in the vacation market has allowed countless numbers of upscale consumers to trade up to a vacation product they previously may not have considered. Statistics also show that, in general, once consumers have traded up and been satisfied with the end result, they’re unlikely to go back. Without question this remains a much larger opportunity for today’s up-market travel seller than any of us realize.

The dizzy economy we’ve all experienced, and will continue to experience, has changed the mindsets and purchasing preferences of the previously “typical” up-market consumer. This makes it that much more critical for you to make a commitment to re-qualifying your customers. What up-market clients may have desired 18 to 24 months ago could be very different today, depending on market conditions and how the economy may have affected their day-to-day lives and investments.

Where cruise vacations and affluent consumers are concerned, I believe the future is very bright. And as a testament to that opinion—just as this article was about to go to print—I saw the results of a survey conducted by the American Affluence Research Center (AARC). This organization began tracking intentions to cruise as far back as 2002.

In a recent survey of the most affluent households in the U.S. (those with an average annual household income of $300,000 and an average net worth of $3.1 million; an average age of 56, with 88 percent married, 55 percent male and 45 percent female), the AARC found that 13 percent of respondents expressed intentions to cruise, which is actually a percentage point higher than what the same survey concluded earlier this year. Hence, we’re beginning to see indications of a more positive attitude toward up-market travel that will likely result in greater opportunities for 2010.

A single-digit percentage point may, at first, not sound like much. But in this economy, an increase of any size is notable, particularly when it has transpired within only the past six months. This shift also represents a very real opportunity for you. Along with other data, it supports the notion that affluent consumers are coming back and doing more shopping in the cruise travel business. But they’re doing so with a more jaundiced eye, and a “no more conspicuous consumption” attitude.

Which leads me to revisit the advice I offered in a prior column: It has never been more critical for you to identify the vacation product in your portfolio that best fits the needs and interests of today’s affluent consumer, and to clearly promote to them its exceptional quality and value. Dress them in the experience so they get a full appreciation of what you’re offering them. The definition of “luxe” may be in flux, but you can make your expertise and consulting skills an invaluable constant! @