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Lifestyle products are goods that are perceived as an expression of an individual's style, preferences, values, way of life and social status. Customers have strong preferences in this category such that they are often willing to pay a premium for goods they feel match their lifestyle and personal image. The following product categories are commonly considered lifestyle products.
Beauty & Cosmetics | Beverages | Books & Magazines | Consumer Electronics | Diy Supplies | Entertainment | | Fashion | Fashion Accessories | Fitness | Food | Footwear | Furniture & Fixtures | Handbags | Health & Wellness | Hobbies & Recreation | Home Appliances | Home Decor | Home Renovation | Homes | Housewares | Jewelry | Media | Mobile Apps | Mobile Devices | Musical Instruments | Natural Products (e.g. cleaning product with natural ingredients) | Nutrition & Supplements | People & Planet (sustainable alternatives such as solar power) | Personal Services | Restaurants & Cafes | Sporting Goods | Stationery | Toiletries | Travel | Vehicles | Video Games |
What Qualifies as a Lifestyle Product?A lifestyle product is a good that a customer sees as part of their way of life or identity. This is an important category for marketers as consumers will typically be relatively price insensitive for these goods whereby they are willing to pay a premium for them. Consumers may also be engaged and loyal to products and brands that they see as part of their lifestyle. The following are common types of lifestyle products. - Designs that express an individual's sense of style.
- Brands that align to a particular aesthetic or design philosophy such as minimalism.
- Goods that are perceived as healthy.
- Socially and environmentally responsible goods.
- Products that support recreation, leisure, hobbies and other things that consumers do in their free time.
- Services that are indulgent and luxurious.
- Goods that provide peace of mind or that solve a life problem.
- Brands, products and services that represent social status.
- Luxury goods that are viewed as exclusive and high quality.
- Products that support creative expression.
- Experience goods such as dining, cafes or vacations.
- Goods and services that relate to social life such as a nightclub.
- Events that are viewed as epic experiences such as a concert.
- Productivity tools that save an individual time.
- Media related tools and services such as a smartphone or a streaming media service.
- Aspirational items that people are passionate about such as cars or handbags.
- Anything that relates to the home including decorations, appliances and renovations.
Types of Lifestyle ProductsA lifestyle product is viewed as important to an individual's way of life. This includes expressions of identity, style, values and creativity. Anything related to social status and social life is also a lifestyle product. Likewise, anything related to free time such as leisure or the home environment can be viewed as a lifestyle good.SummaryLifestyle products are an important category of goods for marketers because customers have strong preferences in this area. This has several implications such as reduced price sensitivity and the potential for niche products to complete with larger brands by matching customer preferences. It is also possible for customers to become fiercely loyal to lifestyle brands.Next: Niche Products
Lifestyle
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