I found this recent article about how luxury retailers are weathering the financial crisis to be very interesting. In three different places, it describes how luxury is shifting in a Theta direction. Let me elaborate:

The author describes a shift to craftsmanship from ‘bling’–appreciating craftsmanship is something that Thetas do. On the other hand, Lambdas believe that nature creates luxury, not craftsmen.

Francois-Henri Pinault, the chairman of French group PPR was quoted as saying, “People want a return to genuine values like timelessness.” Thetas think luxury is timeless, while lambdas think that luxury requires a lot of time.

Suzy Menkes, fashion editor of the International Herald Tribune, said that luxury consumers are looking for designer goods “that can be passed on to the next generation.” This characteristic of luxury holding its value over time is another Theta mark, whereas Lambdas think that luxury holds its meaning over time.

Is the global economic crisis shifting the luxury market towards Theta? I’m not sure–I think there will always be space in the market for Thetas and Lambdas. It just takes different marketing strategies to reach them.