The luxury sector has bounced back in the wake of the pandemic, but with Gen Yers and Zers gaining more economic power, how can high-end brands convert these cohorts into customers? Canvas8 spoke to nine Americans under 40 to understand how they value luxury goods and brands.
Izaak Binet is a researcher and filmmaker and works as a behavioral analyst at Canvas8. He holds a master’s in international development from the LSE and speaks French and Spanish. Outside of work, he spends his time swimming, reading, and watching films at the BFI.
The small luxury brand has been praised for its exquisite knitwear and sustainability-focused approach. As people demand more transparency from their favorite luxury brands, Gabriela Hearst’s approach shows how businesses can better integrate ethical creation into their products.
Hacking and reinventing iconic luxury watches has historically been viewed as somewhat sacrilegious by connoisseurs. But Paris-based design studio Mad Paris is upcycling traditional timepieces and transforming them into one-of-a-kind versions for HNWIs to flaunt and enjoy.
The world of luxury watches predominantly caters to men, leaving many women feeling shut out of a legacy part of fashion. But higher demand from women and creative disruption from brands are helping to carve out space for new voices and styles, energising a market entrenched in tradition.
Gen Z hypebeasts have been a driving force behind the popularity of ‘buy now, pay later’ schemes and luxury mystery boxes. But why exactly are these services so appealing to the young and affluent? And how can brands adapt their offerings to attract these shoppers in a crowded online marketplace?