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Luxury Brands Must Prepare For A Reset: Here’s The How And Why

Over the last three years, the luxury market has experienced a whirlwind of change. In the lead-up to the pandemic, the personal luxury goods market grew 7 percent in 2019, reaching $300 billion globally. Then in 2020, it suffered a sharp decline, dropping an unprecedented 22 percent to $235 billion, followed by a remarkable rebound […]

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Affluent Consumers Plan Fewer Gifts And More Travel, Cutting Into Retail Holiday Sales 2022

Throughout the critical holiday season of November and December, the National Retail Federation predicts retail takings will total between $942.6 to $960.4 billion, a 6% to 8% increase over last year. This estimate excludes spending at automobile dealers, gasoline stations and restaurants. The macro estimate includes all retail expenditures for gifts and other holiday-related purchases, […]

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HENRYs Are Preparing For An Economic Downturn: Luxury Brands Must Too

Peloton, the maker of high-end, digitally-enhanced exercise equipment that enjoyed a bump during the pandemic only to crash spectacularly afterwards, just announced it is laying off 500 employees, about 12 percent of its existing workforce following three rounds of layoffs earlier this year. Store closures accounted for most of the last round in June, but […]

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What Web 3.0 And Changing Consumer Psychographics Mean For Luxury Brands

Web 3.0 is coming fast. While it still hasn’t been fully realized, it promises to mark the end of the domination of the internet by power platforms, like Google, Facebook and Twitter and put users in charge. “This third generation of internet services will be the catalyst for a new internet, connecting data-driven technologies like […]

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Why Neiman Marcus Is Where the Young and Wealthy Want to Shop

Inflation and rising interest rates have taken a toll on U.S. CEO confidence. In the latest The Conference Board survey, nearly 70% of CEOs expect a recession to result from the Federal Reserve’s tightening monetary policy – 57% see a short, mild recession coming and 11% a challenging one. Another 20% expect an extended period […]

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