The Cosmocrats – identifying new targets for modern luxury
Allegoria Consultants, France
INTRODUCTION AND HISTORY OF COSMOCRACY
This paper is intended to illustrate a method of understanding the motives and behaviours of a consumer target group identified as Cosmocrats, a new “elite” born in the United States and now developing in Europe and Asia. The Cosmocrats will be reviewed in terms of socio-demographics and psychographics. As a matter of fact, this “flexible” and shifting target is very attractive to luxury brands because some realize how powerful the group may become in the near future in terms of renewal for their markets, even if local habits and distinctiveness also need to be well understood to explain Cosmocrats' unpredictable behaviours.
Although use of 'cosmocracy' dates from at least the early 1990s, it was popularised in A Future Perfect: The Challenge & Hidden Promise of Globalisation by John Mickelthwait and Adrian Wooldridge. The authors characterised the cosmocrats as the world's new anxious elite ... a much more meritocratic ruling class than we have ever seen before, a broader and a much uneasier one.