Global Powers of Luxury Goods
Bridging the gap between the old and the new
In an age of fast changing trends, luxury companies have started to keep an eye on a new consumer class that is rising nowadays and is going to become increasingly relevant in the future: the HENRYs (High-Earners-Not–Rich-Yet). In addition, companies are committing to make significant investments in stimulating the interest of the younger segments of the population, namely Millennials and Gen Z: the customers of the future.
Companies are also re-examining the value of brand heritage and brand history for their customers. Consumer demand has become the core focus of the business, hence the adoption of an onmi-personal approach, irrespective of the choice of channel.
The following report considers the path between the old and the new, while facing customers’ increasing sensitivity towards privacy and trying to convert it into an opportunity to offer more personalized products and services to the customer base.