• by Steve McClellan  @mp_mcclellan, December 3, 2015

Technology is disrupting the luxury market as many upscale brands are trying to navigate in an increasingly mass-market high-tech world, according to a new report from McCann Truth Central. 

Among the findings in the report (generated by the McCann Tastemakers Council, a semi-annual gathering of innovators, thought-leaders and marketers from the luxury space) is that for a growing number of  people beautiful possessions mean only as much as the meaningful experience tied to them. 

And increasingly, affluent consumers are focused on the ethical, environmental and diversity underpinnings of their luxury goods. Related to that, more consumers are interested in the philanthropic efforts of the brands they support in the luxury space. 

“Many brands are grappling with what it means to offer true luxury in today’s ever-connected world and achieving the right mix between the old guard and the new progressives,” said Nadia Tuma, SVP and Director of McCann Truth Central. “As more consumers are exposed to luxury lifestyles on a mass scale, brands must think very carefully about their strategies in order to accurately reflect their uniqueness in the market.” 

The report, issued today, follows a story in the New York Times about the growing influence of female executives in the luxury market—influence that should be growing given that women will drive an estimated 85% of luxury sales in 2015. 

Like the McCann study, the Times piece notes the impact of digital technology on the luxury sector. 

The McCann study also examines how American luxury is being redefined on the global stage, the balance between creativity and commerce, and how brands can remain “high-touch” in a digitally-driven mass-market world. 

The full study is available upon request via this site.