2009 Luxury Industry Trends

In our exploration of the luxury industry, we have scoured the web for the most interesting, innovative products leading the latest trends. Resetting the gold standard, the importance of the human touch and our environmental footprint are key concepts we synthesized from industry experts and product bright spots in the affluent market. Further, we introduce our two industry critics, Creo the creative and Ana the analyst to argue different perspectives on the luxury industry.

Luxury Trend: Scarcity – Human touch, custom products and limited quantity are the key concepts of the Scarcity Trend. Limited supply has been a guiding principle for economic growth since the dawn of trade. Today, with the ability to mass-produce products and maximize services, consumers are increasingly interfacing with and using products from machines. In this world of overcapacity, scarcity is increasing in value. We explore the world of double hull yachts and high-end custom made books to illustrate the importance of the human touch in a world of machines.

Luxury Trend: Accessible Gold Standard – This trend is all about the importance of outstanding service and value. These two concepts govern those brands who aspire to be outstanding while still accessible. We explore how Saks Fifth Avenue delivers outstanding service and Jimmy Choo introduces himself into a new market.

Luxury Trend: Positive Impact – The Positive Impact Trend is about combining the green found in nature and in affluent wallets to create outstanding, sustainable products. Many luxury brands are looking towards positive impact to overshadow many of the negative attitudes towards excessive spending. From hoteliers to iconic auto brands like BMW and Lexus to high-end eyewear, we will explore the many ways in which the luxury industry is adding a splash of green to their colors.

Luxury Trend: Tradition 2.0 – As one of the most pervasive trends in luxury, Tradition 2.0 is about revamping and re-imagining luxury. Instead of starting from the drawing board, purveyors of luxury have found success in creating new products, inspired by the old, with a new twist. Whether...

To read more about 2009 luxury trends, go to Sparxoo, a digital marketing, branding and business development blog.

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