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Rich Content Helps a Magazine for the Affluent Successfully Change with Times As It Turns 20
MPA REPORTS By Patty Orsini
Can a magazine geared toward the free-spending affluent stay relevant during a punishing economic downturn? That’s the critical question facing American Express Publishing’s Departures as it celebrates its 20th anniversary this month.
The magazine, which goes to American Express Platinum Card® and Centurion members, remains relevant to its readers by informing them of the best ways to spend their money, whether it is on a travel experience or a luxury item. “But Departures is not about excess,” says editor Richard David Story, the book’s editor for the past nine years. “It’s about value. We explain provenance and pedigree, we show why we think something is worth the expense.”
Moving comfortably into the new millennium, fueled by rising real estate and stock prices, America went on a spending spree, and Departures armed readers with information on how to get the most out of once hard-to-reach destinations such as Russia, China and India. This recession has once again given Departures a reason to change the conversation about luxury.
An American Express Publishing White Paper recently released explains how Story thinks about luxury in this post-recession economy. “Luxury was always intended as a limited resource… it was never meant to go mass,” he wrote. “The consumer is back in the driver’s seat, demanding products and experiences tailored to their specifications. Drive-by luxury has come to a stop.”
Departures readers certainly have the cash to spend. According to MMR, readers’ average household income is $439,036, with assets of just over $4 million. Yet, says Story, his readers are thinking longer and harder about what they spend it on. “We know what readers are thinking,” he says. “So we have changed the conversation.”
The magazine’s October destination issue will focus on France—“timeless, accessible, more familiar,” says Story—and coming up in September, “Perfecting the Not so Perfect Smile,” a feature on what you need to know if you are going to spend $40,000 on veneers, for readers who might not be comfortable spending on that vacation quite yet, but are eager to invest in self-improvement.
And the conversation continues to evolve with the November/December issue, which traditionally focuses on shopping. The 2009 edition will be called, “What We Talk About When We Talk About Shopping Now,” and, says Story, will address how consumers spend, what people will buy, and why. “The focus will be on craftsmanship and heritage, while tips on where to find real value will be featured in a section titled “Obscenely Inexpensive.”
Like most titles, Departures is toughing it out this year, with ad pages down 50 percent January to June 2009 vs. the same period in 2008. While some luxury advertisers have not made an appearance in the book this year, Ventimiglia points to Hermes, Bottega Veneta, Gucci, Channel, Patek Phillip and Tiffany as brands that have maintained a commitment to the magazine.
“Luxury was the last ad category to be impacted in this downturn,” says Ventimiglia. In fact, the November/December 2008 book—published while some of the worst news of this recession was being reported—was the second biggest issue in the magazine’s history. “And it will be the first to come back. The affluent shoppers are the ones who will, because their piece of the pie is so big, start spending before other segments.”
It won’t come roaring back all at once, he says, but expects a more cautious return to spending, as consumers once again choose quality over quantity.
Story agrees. “We’ve come into sharper focus, as have the people consuming the goods.”
That sharper focus continues to hone the magazine’s mandate, much the same as it was when the magazine was imported from Britain 20 years ago. “We will continue is to find the rare and the unexpected,” Story says. “If it’s something that involves an extra amount of travel, or work, or money, that’s OK, as long as you justify the worth. Value will always be the most important thing.”
Departures’ 15 minutes of fame:
In HBO’s “The Sopranos,” Departures was ready for its close-up when it was featured in the penultimate episode of the series. While leafing through a copy of Departures magazine in Dr. Melfi’s waiting room, Tony Soprano eyes a steak recipe, tears the page out of the magazine and stuffs it in his pocket. Dr. Melfi confronts him about defacing her Departures magazine, and, after a few more words, she decides she can’t work with him anymore. He leaves he office, but not before taking the page out of his pocket and placing it back into the issue of Departures.
