How do people feel about luxury as the cost of living crisis proliferates? Which upscale brands do Gen Zers’ choose to engage with? How is the sector striving towards diversity and relatable representation? What is the future of luxury travel and the evolution of luxury spaces beyond stores?
Genevieve Muwana is a business fashion management lecturer at the London College of Fashion. She’s passionate about consumer behaviour and luxury brand management and has over two decades of experience working with luxury, beauty, and fashion.
Anastasiia Fedorova is a senior insights editor at Canvas8. A writer, curator and cultural strategist, she specialises in art, fashion, design, technology and visual culture. Her personal work explores sexuality, identity and queer communities while interrogating our place in a world shaped by rapidly changing technologies. As an avid sci-fi fan since teenage years, she is always interested in thinking about multiple and diverse futures.
Rebecca Smith is the Head of Toolkit at Canvas8. With a background in psychology, she has worked with global clients such as Google, Nike, and Mars, exploring everything from what people want from a fake tan to Gen Z’s relationship with social media. Outside of work, you’ll find her binge-watching reality TV, listening to hyperpop, or with her nose buried in a fantasy novel.
Alex Strang is a senior insight editor at Canvas8 who used to be in a punk band that was signed, shaped, and spat out. He enjoys using his experience of being the product to help brands understand how to sell theirs. After studying philosophy and critical theory, he found his feet in the market research world and has been over-analysing consumer behaviour ever since, including his own. He can usually be found playing board games, watching Seinfeld, or trying too hard to make his daughter laugh.
How are luxury brands signalling sustainability? Are experiential vacations the new norm? When do people factor resale potential into their buying decisions? In this part of the 2023 Expert Outlook, we speak to three experts about how luxury is maintaining its allure amid the cost of living crisis.
From putting off marriage to ‘lying flat’, Chinese young people are quietly rejecting their country’s rigid social norms, seeking out more mindful activities, and ‘do-gooding’ on behalf of society. How is their growing sense of individualism impacting how they buy luxury?
Classic pieces and designs from the archives of luxury brands provide instant cultural cachet for status-seeking shoppers while also serving as long-term investments. How is the desire to own part of a brand’s history changing luxury offerings, and where are HNWIs focusing their spending?
With high-end home-swapping sites reporting increases in bookings and the rise of platforms for boat and private jet sharing, HNWI travellers are looking towards the sharing economy. What’s motivating these new travel choices and how can brands tap into this changing behaviour?