• - 17 Jul 2014

    Browsing Is The New Buying For The Considered Consumer

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    Over a third of consumers say that they are thinking more carefully before buying, according to a recent report by Hammerson

    The information age has considerably slowed the purchasing process, giving rise to a consumer that is less concerned with the pure acquisition of products, and instead is more concerned about their quality and real value.

    “Consumers are not only more considered when it comes to their expenditure, they are also taking significantly more time on the buying process. Browsing, researching and comparing now take the lion’s share of consumers’ time and energy.”

  • - 8 Jul 2014

    In Conversation With Elie Bernheim, CEO, Raymond Weil

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    Elie Bernheim, recently appointed CEO of Raymond Weil, explains why luxury in 2014 needs to be accessible

    There aren’t too many independent watchmakers left in Geneva, even fewer that remain in the hands or management of the original family. With the recent appointment of Elie Bernheim as CEO of Raymond Weil, the Swiss brand enters its third reign of family management. Elie succeeds his father, Olivier Bernheim, who has served as CEO since 1996.

    Elie joined in 2006, shortly after his graduation from Lausanne’s famed Hospitality Management School. Proficient in watchmaking, marketing and business management, he was most recently charged with developing and enhancing the global strategy of Raymond Weil.

  • - 4 Jul 2014

    Which Brands & Destinations Are Chinese Travellers Searching For?

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    Which are the most-searched for destinations by Chinese consumers? And which luxury hotel brands are they searching for?

    China has been over the past decade, and still is, the fastest-growing tourism source market in the world, according to the UNWTO. Historically outbound travel from China heads predominantly to regional destinations (UNWTO). The Asia and the Pacific region accounted for 91% of Chinese trips (64 million) in 2011. The Special Administrative Regions (SARs) of Hong Kong and Macao took the lion’s share, respectively 28 million (40%) and 19 million (28%).

    But now that the Chinese travel market is growing and tourists themselves are becoming more sophisticated, which destinations are most desirable? Where will Chinese travellers look to for future destinations? Are we noticing a shift away from Asian locations to the lure of Europe and the United States? According to Digital Luxury Group, not yet.

  • - 1 Jul 2014

    Turkey: A Robust Economy Ripe For Luxury Growth

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    Increasing financial independence amongst women is to drive a luxury goods boom, reveals Fflur Roberts, head of luxury goods at Euromonitor International

    Turkey continues to have one of the most robust economies in Europe, with one of the fastest growing luxury goods markets in the world. In 2013, current value growth was faster than in the previous year, due to the overall positive economic conditions and new luxury shopping malls and mono-brand store openings, according to Euromonitor.

    Favourable factors such as increases in disposable incomes, decreasing unemployment and a rising middle-class all positively impacted consumers’ spending habits in 2013 in the retail market, including luxury goods. New luxury bars, restaurants and hotels and the large number of tourists from the Middle East and North Africa also benefited luxury goods in 2013.

  • - 24 Jun 2014

    Travel Retail: A Sixth Continent With 1 Billion Consumers

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    1.087 billion people travelled internationally in 2013, spending $1159 billion, prompting luxury brand executives to name travel retail as the ‘sixth continent’

    1.087 billion people travelled internationally in 2013, equivalent to approximately 15% of the global population (7.71 billion in 2013, according to the United States Census Bureau). These tourists contributed an estimated $1159 billion to various local economies, purchasing accommodation, food and drink, local transport, entertainment and shopping in destination countries.

    Europe remained the most popular region for global tourism in 2013, attracting over 52% of all international tourists. The most visited country in the world during this period was France, with over 83 million international arrivals, followed by the United States (69.8 million), Spain (60.7 million), China (55.7 million) and Italy (47.4 million).

  • - 19 Jun 2014

    Is Zara The Newest Luxury Fashion Competitor?

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    Call me crazy, but I think luxury fashion brands should be concerned about the increasingly sophisticated activities of Zara.

    I can already hear brand executives laughing that the Céline client and the Zara client are two completely different beasts, and that a fast-fashion retailer like Zara is never going to be a threat to luxury market share. But I am going to have to politely disagree.

    When we talk about the UHNW consumer, I agree that they are perhaps not shopping at Zara, or H&M or Topshop. But when we talk about the millennial consumer or the emerging middle class consumer – two segments thought to fuel the future of luxury consumption – I think that luxury brands should be less cavalier. There are a few reasons.

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Members opinion

  • Sophie Doran Is Zara The Newest Luxury Fashion Competitor? by Sophie Doran 19 Jun 2014
  • Avery Booker Weibo’s Decline Demands Digital Rethink for Luxury Brands in C... by Avery Booker 18 Apr 2014
  • Melissa Rae Wusaty Rethinking Luxury's Democratic Dilemma by Melissa Rae Wusaty 3 Feb 2014
  • Doug Gollan Could 'Luxury for Less' Threaten Market Share for 'True' Luxury? by Doug Gollan 16 Jan 2014

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