Luxury Shoppers Put Value Ahead of Labels
Luxury shoppers are increasingly prioritizing value, quality, and durability over brand labels, leading to a resurgence for brands like Coach and Ralph Lauren, according to Bloomberg Pursuits Global Luxury Editor Chris Rovzar. This shift comes as parts of the broader luxury industry, particularly in handbags and ready-to-wear, struggle.
This trend indicates a significant shift in consumer behavior within the luxury market, potentially forcing high-end brands to reconsider their pricing strategies, manufacturing quality, and marketing approaches to maintain relevance and attract a new generation of buyers concerned with resale value.
The video also covers New York Fashion Week's renewed momentum for American fashion, the role of creative directors in luxury brands, and Gen Z's focus on an item's future resale value.
LUXURY MARKET CONSUMER BEHAVIOR COACH RALPH LAUREN NEW YORK FASHION WEEK