Affluent and high-net-worth individuals, the most discerning and empowered consumers on the planet, use luxury retailers’ digital footprint as the roadmap on their customer journey. Typically marketing is responsible for dropping the “bread crumbs” and sales complete their journey. But the digital economy has altered those dynamics, disrupting the traditional marketing and sales funnel stages. […]
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What’s Balenciaga To Do About The Harry Potter Meme?
Balenciaga, the luxury brand owned by Kering, is making news again after being caught up in a cultural firestorm late last year when it featured children in what many considered an over-sexualized way. Now it is facing another threat: dilution through satire. YouTuber demonflyingfox reimagined the Harry Potter cast of characters as Balenciaga models, poking fun […]
In Luxury, Exclusivity Means Being The Incomparable One Among Many. Neiman Marcus Gets It.
Nordstrom recently disappointed Wall Street when it announced a 4.1% decline in sales during its fourth quarter covering November 2022 through January 2023. It started Fiscal 2022 strong, with sales up 18.7%, then with each successive quarter, sales slowed. It followed a pattern seen widely across the luxury market and reported here. Luxury brands far […]
Need Better, More Up-To-Date Information On Luxury Consumers To Plan Your Next Moves? Free Trial
Over the last three years, the luxury market has experienced a whirlwind of change. After rising 7 percent in 2019 before the pandemic, it suffered a steep decline in 2020, only to bounce back with spectacular growth through 2021 and 2022. Now the economy is under threat again with the banking crisis, rising interest rates, […]
HNW Investors Will Stay The Course, For Now, Survey Finds
Amidst rising interest rates, bank failures, stock market swings and stubbornly persistent inflation, the U.S. economy is teetering dangerously close to a recession. Jerome Powell admitted that the Federal Reserve is guiding the uncertain economy by “rule-of-thumb guesswork, almost” and that the latest rate increase could easily have unintended consequences or, as he said during […]