The new luxury.
“Luxury is changing, in the past it was clear—defined by material abundance. But now, luxury is a state of mind, an experience & narrative expression.” – Josh Knox
A trend and insight report
Luxury is changing, & with it the rules of desire.
As traditional symbols of wealth lose their power to captivate, a new understanding of luxury is emerging. Less defined by ownership and more by what we know, how we feel and where we have access. For brands and retailers, this represents a challenge and an opportunity. The question is no longer what makes something luxurious, but what makes it desirable, meaningful and worth experiencing.
This report offers a snapshot into the direction of travel for luxury. Across the board, luxury is becoming more than material possessions. Status is transcending exclusivity, and value is ever more intangible than ever.
Although luxury is moving into a new phase of discovery for consumers, we’re seeing a web of anchor points supporting its growth. From heritage and provenance, to knowledge and creative cachet; luxury is moving towards a more meaningful sense of richness, not always centred around monetary net worth or down to an individual’s income.
As traditional milestones become harder to reach, what luxury means is becoming highly personal to both individuals and brands. As we navigate this ‘New Luxury’, we look forward to guiding and supporting brands to stay relevant and keep ahead of the curve, with experiences that drive curiosity, and brand love.