It has become increasingly harder to spend big money on expensive luxury items with the global economic slow-down, and people want something that improves their buying experience at a discounted price. The everyday deal market has become a billion dollar industry almost overnight. People have become savvier than before and these consumption habits, shopping ways, and changing values are driving the newer ways of doing business in the lifestyle markets.

Shopping styles are evolving as shoppers spend a lot good deal of time on finding the best deals in the markets. Americans have usually gone with conscientious, subdued, and functional versions of luxuries rather readily splurging on expensive things, such as sports cars or full-priced jewelries. The customers in this new luxury market are focused on the tailored attention, cheap splurges, and healthy and green lifestyle choices. It is estimated that these new trends will sum up to about $1.5trillon in business revenues this year. Here are few ways in which, startups can adapt to capitalize on the emerging trends for growth industries.

Search for Value

People are still purchasing handbags, clothing, and watches; what’s new is that they’re looking at the price tag and judging whether or not it is worth the price beyond the usual retail suspects. The recent survey revealed that customers usually shopping around in lower priced shops for less expensive brands and will buy luxury items only when they are available on sale at discount prices.

Wish for Exceptional

With luxury buys becoming more conscious, customers expect more and tend to look out for services and products tailored as per their requirements such as pet-sitting or pillow types at restaurants. About 30% of Japanese, Europeans, and Americans say that they’re ready to pay high price for things, which are classy and can be used frequently. Customers are looking for wallets and handbags that have been made particularly for them. It is expected that individualized tech gadget, and personalized goods will certainly do well this year. After all, it’s about exclusivity these days; so, if you start off with a similar service, it’s bound to pick-up really well!

Healthy and Eco-Friendly Choices

People are spending more and more on environment and health and hence, farmer’s market is considered mainstream. The food and snack business is expected to continue to gain a premium, provided they are organic as people are willing to pay higher prices for eco-friendly and healthy organic foods. It is not just limited to food choices, but consumers are treating themselves with expensive fitness and gym classes too. It is also noted that people are spending much on fancy day spa and nail salon franchises. The sharp growth in hybrid and electric vehicles is also noticed, in an effort to go green.

Target the Online Markets

Online shopping has been overtaken traditional shopping and 2012 will be year of re-establishing the classic retail stores in the electronic way. The desire for designer brands are still demanding, but in past few years, many online websites, like hautelook.com and gilt.com have started offering luxury items at a discount. Many more similar sites are expected to arrive in upcoming days, while at the same time, number of online sites, selling discount coupons or vouchers for services and goods is likely to cross 500. The online stock of the luxury market is increasing, from 3% in 2009 to an estimated 10% in mid-2012. The upscale department store will have to spend twice as much online channel as other punters. The real challenge for companies is to balance the accessibility and transparency of online websites, while maintaining their positioning as exclusive as well as luxurious brands.

So, keep all these crucial aspects in mind, and formulate a business plan for your next venture; the chances are high that you’d only taste success!

Simon is a serial entrepreneur who runs websites in all niches ranging from gadgets, automotive, fashion, down to travel, leisure, healthy, beauty and finance. He has been running an SEO company for past 4 years and helped countless businesses in gaining popularity on the internet. You can also take a look at efforts of his database marketing available here.