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Luxury looks at the behaviours impacting the ways the wealthy spend. Click below for the insights and innovations influencing this sector over the last six months.
As younger generations grow their spending power, they’re expecting luxury brands to inject their traditionally detached narratives with a more socially-savvy, laid-back tone.
For Gen Zers, heritage luxury labels can seem out of step with their rapidly shifting tastes. As a result, some brands are finding fresh figureheads who can engage with this young, diverse audience.
People are seeking out high-end items that go beyond aesthetics and fulfil everyday needs, pushing brands to foreground function over form to attract discerning shoppers.
Buying clothes that don’t exist IRL doesn’t seem to make much financial sense, but a wave of gamified apps that bring couture fantasies to people’s fingertips is normalising virtual fashion.