In a first for luxury retailers, Net-A-Porter is launching a resale platform for its menswear, Mr Porter Resell. While catering to desires for fashion that lasts, the addition of tailoring to refresh clothes maintains luxury elements, showing opportunities to add extra services for luxury consumers.

Europe’s big spenders are travelling no less in 2021, but they’re opting for short-haul holidays. This has inspired Spain to swap a mass tourism model for one that caters to the premium traveller as luxury tourists increasingly choose southern Europe over tropical destinations.

The COVID-19 crisis has not dampened affluent Americans’ desire to travel, but it has affected the kinds of experiences they’re craving. How are brands satisfying HNWIs’ hunger for exclusive and extraordinary trips while also responding to growing expectations for sustainability and privacy?

Societal norms and social media platforms are exacerbating the human tendency to compare successes with others, leaving people feeling threatened in their social status. High-status goods help people showcase their worth, and according to Dr. Dafna Goor, can boost self-esteem and wellbeing.