While older generations might be more likely to have the means to acquire luxury goods, they are looking to Gen Z shoppers to inform them of what is trendy. Gen Z frequently seeks out
innovation. “That’s driving some legacy fashion houses to rethink streetwear and versatility,” with some premium legacy labels now dropping product more frequently and collaborating
with “up-and-coming” brands, per Sourcing Journal.
Bain forecasts that personal luxury good sales will finish out the year 29% higher than last year, at $324.3 billion.
Researcher: "In times of uncertainty, people are less likely to go out on a fashion limb as they express themselves."
The study isolated speed as a performance metric to determine whether there is a true correlation to spend, page views, bounce rates and progress in the conversion funnel, through analysis of mobile
site data from retail, travel, luxury, and lead-generation brands.
The Leading Hotels of the World wanted to make sure its loyalty emails were data-driven while resonating across countries and cultures.
Comscore offers surprises on luxury customers, and reveals that the public does not expect brand activism.
The frictionless AR experience allowed the target to "sit" inside the RDX, customize the interior trim color and explore the numerous high-end innovations via interactive hotspots.
The LGBTQ community, possessing a bold and rebellious mindset to live life on their own terms, perfectly embodied both BMW's Modern Maverick target and X2 manifesto of "Give No Explanations."
High-end department stores continue to lose relevance and market share, replaced by stores owned by luxury brands themselves, as well as digital channels.
While extravagance, brand name and price were previously thought of as key drivers, more than two-thirds now believe that "less is more" when it comes to modern luxury.
This past year saw an increase in the percentage of affluent households engaging in luxury shopping.