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  • How are luxury labels making shoppers feel more special?
  • How are luxury labels making shoppers feel more special?
    Franck Michel, Creative Commons (2016) ©
Snapshot

A sector snapshot of luxury

Why are people happy to spend big on little things? What’s driving luxury labels to couple up with unusual partners? How are high-end brands helping the rich feel even richer? And why should they consider giving customers creative control?

Location Global

Scope
Amid proclamations that we’ve hit ‘peak stuff’ and with people worldwide tightening their belts, luxury growth isn’t quite what it once was – market growth has been slow over the course of 2016. Yet the opulence of high-end goods will always have a certain appeal. After all, the ‘lipstick effect’ is well documented – when people can’t afford the big luxuries, those little delights are all the more alluring.

So it makes sense that, globally, accessories have never been more in demand. With the price of designer handbags peaking – between 2009 and 2014, the price of a Chanel ...

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