“Millennial and Gen Z consumers are embracing luxury fashion. The average luxury consumer in these generations owns nine luxury fashion items across accessories, apparel, and footwear, according to A Millennial Approach to Luxury, a recent report from The NPD Group and Stylitics. But, they have a different style when it comes to the purchase journey. This younger luxury consumer favors the convenience and extensive browsing ability afforded to them by online shopping, but also appreciates the luxury in-store experience.”
Tag: luxury goods
When it comes to fashion, flashy logos have been out of vogue for a while. But a number of premium retailers say logos are back. Coach Brand President & CEO Josh Schulman told investors on the company’s second-quarter conference call that the company is seeing “a global movement in luxury brands toward a higher penetration of logo product.”
It used to be so easy. Luxury brands could purchase full page ads in glossy upscale magazines or roll out a TV ad campaign to reach their target market. These marketers have been slow to move to digital but their strategy is changing quickly now that their audience is online.