Opinion: Luxury's biggest challenge
Despite all the turmoil and ‘unknowns’ the global economy is facing, figures from GlobalData suggest the global luxury market will grow by 10% in 2022 to reach a value of £118.8bn. And according to this same report, the growth will be driven by younger audiences, who are increasingly becoming key stakeholders in the industry.
For luxury, reaching this audience is now pivotal. But it will mean some changes. And that begins with reframing - and doubling down - on the values that matter to them. In Luxury Adviser, our Founder, MD, and Creative Director, Amy Ramage, explains how by leveraging online experiences and innovative technology, as well as thoroughly embedding sustainability - brands will be able to connect and reach Gen Z and Millenials.
Arguably, this is luxury’s biggest challenge, and the time to adapt is right now. Want to know more about how to make this change? Check out the full piece here.