First published to media acclaim in October 2003, Trading Up revealed how today’s middle-class consumers are seeking higher levels of quality, taste, and aspiration than had ever been possible before—in their choices of cars and clothing, vodka and beer, golf clubs and dolls, and much more. The book identified a major opportunity for entrepreneurs and innovators, managers and marketers, in every category of consumer goods and services. Now Michael Silverstein and Neil Fiske have thoroughly revised this BusinessWeek bestseller with new research and new insights into the still- growing phenomenon of trading up.
Customer Reviews
Great Insight, but Could Be Shorter:
This book is a great reference to trends in our society and the new buying habits. There are great “buzzwords” and alot of statistics quoted. However, as you read on, there is a great deal of repetition and I believe that this entire book could be summarized in 25 pages.
Wish I had more time…..:
I have only just started to read the book, but my time is limited so I haven’t really gotten to enjoy it. But what I have read so far is grea 
I would recommend this book to anyone who is interested in what makes Americans tick!
Consumer goods startups must read:
I’ve been working for years to develop what Silverstein and Fiske describe as New Luxury products. I wish I had this book in 1999 when I started! While I have come to the same conclusions and I find that this book validates my concept and strategy like no other, the real value for me has been the better organization of the concept and suggested processes than I’ve been able to develop on my own. When you read the acknowledgments you’ll see a huge list of people and resources that few of us entrepreneurs have available. This gives the book incredible depth and value.
Unfortunately the authors never mention ethnographic research although they are doing that science in an ad hoc way. They may not be aware of the applicability of ethnology to market and product research. Sure, ethnology was developed for studying remote tribes but mix this with neuroscience and environmental behavior research and business gets interesting.
A major feature of this book that we rarely see in biz books is the chapter at the end that explains their sources in a more useful way than the typical end notes. It would be nice if more authors would explain their sources and reasonings rather than just list sources.
- jim
Retail Marketing 101:
This well written book basically outlines the consumer market as it is today: that most consumers, while buying basic necessities at discount retailers such as Wal-Mart and Target, don’t mind paying a little extra for luxury goods they feel are worth it in some way. It’s a fascinating read for anybody interested in the retail business or in marketing. As somebody who is currently in marketing and who worked at Bath & Body Works for a number of years (of which one of the book’s authors, Neil Fiske, is the CEO), it was interesting to learn why the store went from a country, home-spun theme in the 1990’s to the upscale, urban “apothecary” it is today. Though Bath & Body Works was never used as a case study in the book, the concept of trading up is certainly applied to the store (thanks to Fiske’s leadership).
Besides its commentary on the current retail market, the book presents an insightful view of our modern American society. We live in such an affluent society and presented with so many choices that we have the luxury to “trade up”. Even those with relatively low incomes can trade up on a few items. It’s all about the person’s priorities and how they choose to distribute their money.
All this affluence and trading up has led to a higher quality of life for all. While those with low incomes are able to buy decent products at low prices at Wal-Mart and Target, middle and upper income individuals can shop at those same stores and use the extra money they’ve saved to buy higher-end goods.
My one caveat about the book is its overabundance of marketing jargon. Somebody outside of the marketing and business field may not understand some of the terminology. But the book doesn’t seem to be written for the average lay person in any case. Just thought I’d bring that up for what it’s worth.
Trading Up:
Did you ever wonder why it is becoming so much more difficult to find products that either aren’t luxury or low-end? The authors explain how consumers are selectively trading up for products that they value and trading down in other areas, leaving the middle. The authors use case studies to make their case. For example, some consumers are willing to shell out $2000 for a washer and dryer. Not any washer and dryer but the latest side load offering from Whirlpool. Considering that you can get a washer and dryer for $400 to $600 this is quite a premium. The authors explain how companies if they can provide a ladder of value for a product can entice consumers to trade-up, even for something as humdrum as a washer and dryer. The authors back up their concepts with marketplace facts as well as socioeconomic factors such as the increased number of women in the workforce and the state of the family.
