Two Minutes on Luxury Trends in 2009

Editor's Notes

1. PREFACE – ECONOMIC TIME HAVE REALLY SCREWED THE LUXURY CATEGORY If there is one category that felt the effects of the economic downturn it was the luxury category. Reduce risks (unsure of how much more they are going to lose) 20% drop in the luxury sector. Results in… REBUILDING OF LUXURY CATEGORY
2. PRESENTATION AGENDA Briefly explore where the luxury category is coming from. What has changed in this economic environment? => REBUILDING OF THE LUXURY CATEROGY.
3. WHERE WE ARE COMING FROM - Over the last five to ten years we have witnessed a drastic change in the luxury category – luxury was no longer exclusively for the elite. We witnessed a DEMOCRATIZATION OF LUXURY. Our entire culture was being fueled by the need to life lavishly. Part of the reason we’ve found ourselves in the economic mess that we are currently in.
4. New Luxury – Death Of Masstige Pinching out the middle as the middle market getting smaller Some people may not lose their jobs, but wages are lowered and bonuses are lost Luxury brands refocusing their attention to a more traditional luxury audience
5. New Luxury – Luxury Shame Rich viewed as the new villains Now it’s all about steal wealth End of bling It’s not cool to be rich It’s not cool to flaunt. Example of bags with no logos. Subtle, modesty
6. Luxury Trends – New Kind of Luxury More rational purchases Quality important Subtle, long lasting pieces. Authenticity over novelty (death of novelty) Luxury Trends – New Kind of Luxury Investment pieces  classics Less “NEW MONEY!!” “necessary luxuries”  work-out machine
7. Luxury Trends – Back To The Artisan Back To Artisan Appreciation for quality – the connoisseur CRAFTSMAN – CONNOISEUR Opposite of masstige