Join me Wednesday January 18, 2017 at 10 on the Park at Time Warner Center, Columbus Circle, for a deep-dive into the changing market for luxury. My talk will open the meeting:
Luxury Market Outlook 2017: Disruption, Change and Reinvention
Why should disruption surprise any of us? Why does the rapid rate of business change, which seems to have gone from fast to supersonic in the past decade, bewilder and confuse us? The cliché explanation is this is the ‘new normal,’ but these are merely the symptoms of the change, the effects, not the cause.
To develop meaningful and effective strategies to deal with these changes, rather than just copy the disrupters’ tactics, luxury brands need to understand the underlying cause – the shifting priorities, needs and expectations brought about by the evolving luxury consumer market and new generational demographics.
It is an understanding that heritage brands such as Lincoln, Tag Heuer and Saint Laurent Paris demonstrate, as well as disruptive brands including Everlane, Shinola and Blue Nile are exploiting.
The answer to disruption and change in the luxury consumer market must be to reinvent the luxury brand experience for today and tomorrow’s luxury consumer. This session will focus on the new luxury consumer dynamics and how brands must respond proactively to meet them.