From premium hairdressing to fashion clothes, eyeglasses, jewellery, health services, digital cameras and luxury audio systems, the purveyors believe "external factors" have little to do with the spending behaviour of people with heavy pockets.

Chuchai Chairittilerd, owner of Gempeace by Chuchai, says he was very nervous after the abrupt change of the September 19 coup. But he found that consumers revived their spending habits within a few days. Moreover, he discovered that jewellery sets with prices ranging from Bt200,000 to Bt2 million became his best sellers.

Gempeace by Chuchai recorded no drop in sales last year.

"To these people, economic and political situations might shock them for a while, but they will continue to spend for things they desire as long as they have money. Their purchasing habits aren't affected by the rise and fall of these situations," Chuchai says.

Mikimoto (Thailand)'s marketing manager Achiraya Inkatanuvat says her company's experience is the same, and she believes this is because people still enjoy wearing ornaments, no matter what threats may be seen in the economic or political environment.

Mikimoto's brand reputation in Thailand and elsewhere is also quite strong. Its prices range from Bt5,000 Bt1 million.

So, even at the top, it comes back to marketing strategies and customer satisfaction.

Products and services that promise the best quality and brands that offer larger-than-life properties, such as a chance to experience unique happiness, enjoying a friendly consultation, even the premium atmosphere of the shops, are key sales strategies. Loyalty programmes also help.

Better Vision Group, the wholesaler, distributor and retailer of eyeglasses, believes it operates in a niche market because of its prices, quality and "the premium look".

"Our products are something that show a customer's success in life," says managing director Pakee Pracharktam.

Among about 60 brands of eyeglasses it offers, the firm also has seven high-end brands, including Cartier, Bulgari, Montblanc and Judith Leiber, priced from Bt15,000 to Bt50,000 per pair.

"What we have to do is to spend time explaining the products to our customers, to prove to them that our products are really good," he explains.

In one sense, selling products and services in a niche market is pandering to customers' personal lust. And perhaps this is best seen in the desire of some people to own the very latest in high-tech products, such as audio systems.

"People who are really crazy about audio systems will always keep updating to new models and are willing to buy regardless of price," says Patchrawadee Wongprecha, marketing director of Mahajak Development, an importer and distributor of Mitsubishi air-conditioners and Denon and JBL audio systems.

Through last year's political and economic shocks, the company's high-end products made a consistent contribution to its revenues, while other products targeting the middle and lower markets tumbled.

Mahajak will even introduce a new brand from the UK called Chord, which will be the most expensive brand in its portfolio, with prices from Bt100,000 to Bt1 million.

Of course many purchases in the dizzying heights of this market are made as an investment, and that's how luxury hairdresser Somsak Chalachol thinks of his products and services: spending on them could open many a promising door.

Under Chalachol Co's umbrella, there are three premium salons: Cue Cut, targeting teenagers; Chalachol, with a minimum price for hair styling of "several hundred baht", and Salon du Guru. Then, there is super-premium "Sak and Salon de Bangkok," with a minimum price of Bt2,000 for what is, essentially, the same service.

"Each hair style stays with customers for as long as three months. It's kind of an image for them, and a good image can bring further good things to their life, such as a higher possibility of achieving certain goals," Somsak says, adding that his business really sells happiness, because his salons offer a good feeling in a premium atmosphere with good music, and at the same time they create a good appearance for customers.

According to Somsak, what Thailand experienced last year was a lot less severe than the economic crisis of 1997. At that time, many companies suffered so badly that even the rich delayed their spending.

The Chalachol Company was new then, and its salons have since become a renowned part of local hair dressing.

The Emporium shopping complex by The Mall Group is another business that was born at that time. It was the first shopping complex to successfully introduce global luxury fashion leaders like Louis Vuitton, Gucci and Chanel. The Mall Group also opened Bangkok's monument to high-end shopping, Siam Paragon.

However, although the high-end preaches a nonchalant disregard for the preoccupations of common folk, perhaps it shouldn't overestimate the weight of those heavy pockets. There are, among them, people who are thinking more prudently.

Valeerat Singkivibul, senior executive and communications director of Spa Advertising, is one of them. She is already committed to a New Year's resolution to increase her monthly saving by 20 per cent.

"Economic uncertainty is a major factor to me," she says. "Also, some changes (such as political change) are not yet really settled. I have to prepare myself for the unexpected, because economic trends are still difficult to estimate."

She says she's also getting older, and she has many things to use, without buying more.

After all, it seems that offering the right products and providing impressive added values are the keys to giving high-end products and services another good year. Oh, and product variety, marketing programs and campaigns to create strong bonds with customers are also important. All in all, it makes the expensive and fabulous seem almost commonplace.

Nitida Asawanipont

The Nation