![]() and Canada ranked Comfort as their top luxury attribute, consistently placing it at #1 in all surveyed categories, including Travel, Dining, Fashion, Groceries, Wellness, Auto, and Tech. For luxury brands to resonate, understanding individual customer definitions of luxury is crucial. Nearly half of people (44% ) believe luxury is an intangible and subjective feeling. It signifies a shift from exclusive Traditional Luxury to a more inclusive mindset. These "everyday indulgers" seek to transform ordinary moments into special ones. This sentiment is stronger among US multicultural audiences, with a 7-point increase, likely due to past feelings of exclusion from traditional luxury. Personal Luxury is on the rise 66% view luxury as an occasional treat, while 34% see it as a daily self-indulgence. Personal Luxury, the more recent mode, is defined by the individual, not brands, in the context of their own aspirations, financial circumstances, life stage, and social world. Traditional Luxury is rooted in opulence and exclusivity - think tony enclaves, expensive jewelry, golf club memberships, and Italian sportscars.Ĭontemporary Luxury reflects modern values that favor innovation and sustainability - think cutting-edge technology, electric vehicles, clean wellness, and lifestyle brands. The New Codes of Luxury study finds that while luxury has long been bimodal, there are now three modes of luxury co-existing today – with each characterized by different attributes and appealing to different audiences: These numbers rise among younger people, with Gen Z-ers over indexing by 10+pts. and Canada see necessities like having no debt, owning a home, or having money to retire as luxuries. Economic challenges, including stark inflation and a widening pay gap, alongside vocal movements from Occupy Wall Street to the more recent strikes in Hollywood, are recalibrating the luxury compass. The world of luxury has been upended by a growing resentment of not just the wealthy, but also how their wealth is obtained.
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