Business & Trends
On the auction market, 2020 showed mixed results. Led by the charismatic Aurel Bacs, the house Phillips in Association with Bacs & Russo is however holding its own, with a record year in the watch sector. A performance that contrasts with a struggling watchmaking industry.
After a year-long break in their growth, LVMH and Kering have to answer challenges linked to recovery, while facing changes in the luxury fashion sector. To do so, their fashion brands seem to have opted for opposite strategies.
By Sandra Krim
Even though more and more counterfeit products are being seized at customs all the time, and despite the boom in digital certificates for luxury products, counterfeit sales remain a growing problem in the luxury sector. Even more worrying: purchasing fake products online is actually appealing to the younger generations.
Doraemon, Totoro, Donald Duck or Pikachu, cartoon characters are the new safety blankets of luxury brands. By incorporating them in collections, they aim at attracting the Z generation, as well as adults that still are big children.
The year 2021 opens with many questions, including those raised by recent acquisitions operated in the luxury industry, obvious signs of new strategies accelerated by Covid-19.
The “see now, buy now” trend reflects the desire for immediacy that animates young luxury customers. It’s a revolution based on complex psychological mechanisms, it plays out on social media platforms and has been boosted by the COVID-19 pandemic. Luxury Tribune takes a deep dive into this new shopping experience. Here’s episode one of four.
While blockchain is increasingly used as a certification tool, it still isn’t sufficient enough against counterfeit goods. Luxury brands also need to ensure a solid client relationship combined with strong values.
Watchfinder &Co, leader in pre-owned watches, is multiplying partial exchange programs with brands. Its cofounder Matt Bowling sees here the best option for watchmaking to increase its new watch sales.
Luxury goods bought through leasing arrangements is a strong trend that has increased with the pandemic. This instalment method, flexible and free from initial interest rates, offers immediate satisfaction to consumers. On the flip side, it would lead to over-indebtedness.
What are the psychological cues that push luxury consumers to buy with one click? One thing is certain, there must be a lot, considering that 95% of our brain’s activity is unconscious. With one threat that looms large over these new buying habits: oniomania, also known as compulsive shopping disorder.
Upon arrival at the helm of Bally, Nicolas Girotto dove right in with a major brand repositioning. Forget Hollywood glamour, today it’s all about chic “Swissitude” and lower prices.
The role of merchandising has been greatly affected by Covid-19 restrictions. New strategies are emerging to strengthen the interrelationship between a physical shop and digital platforms.
By Elena Cozza
Thanks to vaccines and China’s economic momentum, the luxury industry could still end the year on a positive note. The recovery that began last fall is expected to pick up in the coming months, but it won’t return to 2019 levels anytime soon. Unless…
With Covid-19, women’s beauty routines are being challenged: hidden lips, fragile skin, highlighted eyes. Facing these new needs, brands are offering unique products and clients are turning to online sales and digital tools.