According to the 2017 report by Global Powers of Luxury Goods, consumers in emerging markets like Russia, China & U.A.E, continue to drive luxury market growth rather than mature markets like U.S.A, Europe & Japan.
The TWO emerging LUXE trends for 2017 are :
1.Luxury Product to Luxury Experience in the Digital age.
It is not longer about the possession of a luxury product but rather how the product makes one feel, this relates to the intangible quality that the luxury product possesses. The Brand experience would soon be the enticing factor and E-commerce & M-commerce will become the integral towards creating this Brand.
2.Standardization to Personalization
The one size-fits-all approach necessitated by globalization is now expected to shift towards a personalized touch.
Made-to- Measure and Customization will be more in demand on part of the luxury shopper.Such kind of large-scale high quality personalization can already be seen with popular brands like Louis Vuitton & Goyard.
Status will be ‘who I am‘ rather than ‘what I have‘.
Stay tuned for whats Trending in Women’s Luxury Fashion in the International & Indian scenario…
Source:Global Powers of Luxury Report 2017 conducted by DELOITTE