Nouveau Niche

The desire to acquire something completely unique is an enduring one but seems of late to have become more of a concern in the wider market. Where in the past things like exclusive or limited edition fashion and one-off art pieces were the sole preserve of connoisseurs or the very wealthy these days more and more consumers are buying into what a report from American Express Card last year dubbed ‘Nouveau Niche’.

The whole notion of Nouveau Niche seems like a reaction against the stifling monotony of globalisation and high street consumerism - the possibility of some anonymous doppelganger walking past sporting the exact same Gap jacket and ipod earphones as you has become all to feasible.This new breed of consumer is keen to shun what they perceive as the mainstream in favour of products that they feel express something of their unique personality and taste. In the past mass consumerism flourished thanks to a widespread perception that if something sold well it must be good. In these days of e-shopping when every niche is catered for, the diversification of the market reflects a generation of consumers for whom limitless choice is a given. Indeed, to some extent the opposite is now true – quality is now denoted by uniqueness rather than popularity. The desire to own something unique or different is an emerging trend that Gail Hodges, Director UK Premium Cards American Express, has observed in American Express card holders: “We’ve increasingly noticed Platinum Cardmembers asking our concierge services to source items that are one-offs or unique…. going that extra mile and standing out from the crowd is becoming ever more popular. With hand crafted/designed wallpapers, designer made-to-measure clothes ranges, limited edition technology and affordable art fairs, one-off and limited edition items are no longer the preserve of the rich – luxury is becoming much more affordable.”An interesting side effect of this tendency is the burgeoning popularity of art acquisition. This is the perfect example of a market that would not so long ago have been considered the height of exclusivity. Whilst the top end of the market continues to be prohibitively expensive for all but the very wealthy the current art market boom is at least partly attributable to a huge growth in investment at a lower level. Art, after all, represents the ultimate one-off purchase and thus becomes particularly desirable to the Nouveau Niche consumer. Indeed, it tops a list of popular one off items in the American Express Card report that also includes made to measure clothing and jewelry.