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Luxury looks at the behaviours impacting the ways the wealthy live and spend. Click below for the insights and innovations influencing this sector over the last six months.
While old markers of luxury still hold value, materialistic extravagance is falling out of sync with the tastes of ethically-minded shoppers, who want brands to vocalise their green credentials.
Against the backdrop of an impending recession, uncertainty around COVID-19, and climate-based anxieties, luxury consumption is evolving to focus on people’s immediate environments.
Purchasing luxury is more than a statement of wealth among younger generations, who are increasingly defining their identity by the brands they consume.
As traditional symbols of luxury become more attainable, people are finding value in unconventional high-end goods such as limited edition collaborations and pocket-sized handbags.