Everybody knows that opening a store in a new location can have a positive impact on sales not just in that location but in online traffic overall. It’s the “Halo Effect.” But closing a store can result in more than just lost sales in that particular store. That’s called the “Horn Effect,” the negative flip […]
Archive | Consumer Psychology
RSS feed for this sectionAs The Luxury Market Evolves, White Space Abounds If Brands Know Where To Look
The luxury market, including its goods and experiences, will end the year up eight to 10 percent over 2022 at current exchange rates, which is pretty dynamic considering the hefty comps it is up against. Expected to hit €1,508 billion ($1.65 trillion), it will have advanced between 18 to 20 percent over 2019, according to […]
Aspirational Consumers Pull Back, Driving Down Luxury Leaders’ U.S. Sales
The leading global luxury brands showed topline gains for the first half of the year, despite a drop in sales in the U.S., where aspirational consumers are stretched thin and have cut back on indulgent purchases. In most recent reporting, all but Kering showed outstanding topline gains – LVMH was up 15% to $46.5 billion […]
Quiet Luxury Has A Starring Role In ‘Succession’ With Norwegian Wool Part Of The Cast
The Succession series shows how the truly successful professional class dresses: in quiet luxury style. Norwegian Wool is brand that embodies that ethos.
What Consumer Psychology Reveals About Our Urge To Splurge
Deloitte is out with new research that found the urge to splurge is universal, indulged in by nearly equal measures regardless of the consumer’s age, income or gender. Its survey, which spanned 23 countries and over 114,000 adults, found nearly 80% said they made at least one splurge purchase to lift their mood in the […]