Big Cat Insight - The Post-Covid Luxury Landscape
- The luxury market took a huge hit in the wake of the COVID-19 pandemic. Luxury is now no longer defined purely by labels or materials — now we are defining it by the impact that the product or brand has on individuals, society and the environment.
- A whopping SEVENTY-ONE percent of American, British and Chinese consumers say they are more likely to buy from a brand that has made strong commitments to equality and social justice.
- Because of this - Gen Z and millennials are set to represent more than 60% of the luxury market by 2025. Connecting with Gen Z requires a deep commitment.. Eight-five percent of them believe that brands should be about something more than profit!
- It's purpose and ethics over product quality and design these days I'm afraid Chanel...