Good news first: mainly driven by Chinese and American consumers, in the next future luxury demand is due to increase (+6/7%), bags and shoes on top. Such growth will be mostly (90%) fostered by high-end luxury customers: the Absolute Luxurer (that is, the Big Spender, sort of a refined and mindful consumer), the Megaciter (that is, Millennials living in big cities) and the Social Wearer (most keen on environmental issues). This is going to be the trend, according to True Luxury Global Consumer Insight, Boston’s Consulting Group researcher. On the other hand, in spite of such positive trends, luxury customers are changing their attitude towards fashion. According to a recent survey, out of 12,000 luxury fans ( who spend for top quality goods at least 36,000 Euros on a yearly basis), 65% of them spend their money in the domestic market, not abroad any longer ; 72% of them watch online reviews. A vast majority (92%) believe that Italy is the top country for luxury, still half of them do not trust fashion brands any longer as they see a discrepancy between the item actual value and its quality. Hence they look out for new offers. That sounds like a warning for brands: new customers want to be seduced.
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