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During recent years, luxury consumers’ buying motivations have been bending towards inconspicuous consumption, to subtle cues, which they are aiming to use to distinguish themselves from the mass market- gaining social status and belonging to a desired group of people.

The luxury fashion industry is moving away from the idea of trends towards the idea of tribes.

Customers buying luxury fashion or any luxury items, can be motivated by a specific chase after intimate motivations- the creation or reforming of the extended self.

Luxury is the one that makes a high price, not the other way around.

The modern luxury shopper has a mixture of online (increasingly highlighted) and offline interactions with the brand, seeks advice from peers (often "members of the desired tribe") and investigates social media before entering a store.

Luxury isn’t about price, it’s about culture, community, the values we share, and aligning ourselves with brands who can help enhance those values as well as support the creation of the customer's ideal extended self.

Blockchain allows retailers to enhance their operational efficiencies while providing consumers with the authentic provenance information of luxury products.

The marketisation of luxury has led to a power shift within the key pillars of luxury culture: authenticity and quality are starting to overweight the importance of scarcity in many cases.

The desire for personal expression boosted Gen Z’s love for fashion and the metaverse provides them a hyper-interactive and creative digital environment to express themselves.

For modern consumers, NFTs are a symbol of unique digital identity- they also fit in perfectly with luxury brands as they share the fundamentals of scarcity, uniqueness & authenticity.

Web3 provides endless opportunities for luxury brands and can be seen as a savior for especially the traditional luxury houses, that today are struggling to find novel ways to interact with the digital-first consumers.

Middle-income consumers are under more pressure to consider products before making a decision. During an economic downturn, super-rich customers are more likely to buy long-established luxury products like Chanel, Dior and Hermès than small-scale brands. #lofficiel

Live-shopping, one of the biggest luxury retail trends, could account for around 20% of global e-commerce sales by 2026. Source: McKinsey

Various luxury brands are turning to state-of-the-art technology. With 20% of luxury goods sales coming from online by 2025, brands must up their digital game: added incentives for customers, direct engagement, gamified & engaging experiences, personalised & exclusive spaces.

No longer only buying products, luxury consumers are investing in the narratives that they identify with. Thus the creation of compelling, meaningful brand stories as well as trustworthy, topical value promositions is now more crucial than ever.

The allure is the brand’s exclusivity, which is always the case especially within luxury fashion- being exclusive is what allows you to have longevity.

Defining a luxury brand by its functional aspects and high prices cannot replace the value a brand creates.

Beyond happy to announce that the new office/boutique is open. 🃏

Last week, we celebrated Helsinki Fashion Week, where I was honoured to work as the head of marketing as well as the closing model. Couldn't have done it without the dream team: Aini Husain, Saga Weissmann, Emmi Sainio, Sofia Kostjukova 🖤 linkedin.com/posts/emma-kir…