The growing demands from luxury’s ever-evolving consumers means there has never been a more competitive time for brands to remain relevant, says Mario Ortelli, Luxury Society Columnist and Managing Partner at Ortelli&Co, who believes the long-term fundamentals of the market remain a compelling opportunity for investors.
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The Deep Dive: “If Your Product Is Not Well-Positioned For Your Specific Markets, You Will Struggle.”
Brands must be aligned towards their clients’ expectations in order to succeed in luxury’s new normal, says Alexander Manz, Director of Business Development at ASMALLWORLD Hospitality, and position themselves in a clear and distinct way towards their specific niche audiences or risk falling behind the industry’s younger and more digitally savvy competitors.
The Deep Dive: “Luxury Brands Need To Develop A Whole Digital Ecosystem For China Alone.”
The head start that luxury brands gained from their presence in the Chinese market has continued to provide a competitive advantage, but as China’s digital ecosystem matures, so too must the strategies that companies employ to navigate luxury’s fastest-growing market, says Pablo Mauron, Managing Partner China and Partner at Digital Luxury Group.
For Gen-Z, Side Hustles Are Just Another Way To Generate Income
The value of Gen-Z’s disposable income has now reached $360 billion in the United States, more than double the figure previously estimated in 2018, according to a new study by research and advisory firm Gen Z Planet.
The Deep Dive: “Luxury Car Clients Have Demanded More Immediacy And Pre-Owned As A Result Of The Pandemic.”
The luxury automotive industry began experiencing an increase in demand during the height of the global COVID-19 pandemic, as customers unable to travel, sought other areas to spend their money. What was even more noticeable was that customers were unwilling to wait for a new model, opting instead for pre-owned cars to satisfy their need for speed.
Luxury Bounces Back To Growth, With Trend Set To Continue
Demand from the United States and China as well as the ongoing strength of online is helping to drive luxury’s rebound to growth, helping the personal luxury goods market achieve a V-shaped recovery in 2021, according to the latest study from Bain and Altagamma.
Community, Content and Creativity: Welcome To Luxury’s New Age of Advertising.
In the new age of luxury advertising, brands need to do more than just hire a famous ambassador to model their products. Today, it’s about overturning preconceived notions and presenting a new evolution of ideas to fit in with the modern luxury consumer.
When It Comes To Success On YouTube, It’s The Long View That Counts
Luxury brands are often unsure of how to best connect and engage with the audiences on YouTube, particularly during key moments like Fashion Week. But now thanks to a new report from Launchmetrics, the numbers speak for themselves. Those who take a longer-term view towards what type of content they feature on the video-sharing platform, are ultimately the ones that win big.
Balenciaga Knocks Gucci Off Top Spot As World’s Hottest Brand
The return of physical events has meant the return to crafting a fashion moment, and no brand executed this better than Balenciaga, which made a return to Haute Couture, launched a Fortnite collaboration, and dressed Kim Kardashian for the Met Gala, which caused searches for the brand to rocket by 505 percent in the third quarter of this year.
The Deep Dive: “Luxury Brands Are Getting Ready For A New Era Of Growth.”
The future for luxury looks bright, at least in digital media advertising, says Rachid Ait Addi, Head of Client Partnerships at Teads, who has seen demand for video advertising and creative services grow significantly since the start of the pandemic, a trend he expects will continue into the years to come.