Accenture Greece’s Post

💰 𝐇𝐨𝐰 𝐇𝐞𝐫𝐦è𝐬 𝐑𝐞𝐝𝐞𝐟𝐢𝐧𝐞𝐬 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 𝐢𝐧 𝐋𝐮𝐱𝐮𝐫𝐲 Just last week, Hermès hosted its traditional bi-annual sale, a practice defying the usual norms of Luxury Retail. The trick? This sale always takes place, not in their stores, but at Paris's Palais des Congrès exclusively (a venue known for hosting major events and exhibitions). Pre-COVID? Open to anyone brave enough to face the queue. Post-COVID? Invitation-only. And being invited has become a status symbol in itself. How to score an invite? Unclear, although being in their CRM is a good start. Discounts go up to 50%, and it’s a game of quick picks and limited stock. Dreaming of a Birkin? You won’t find it here. But savvy shoppers often find hidden treasures like the coveted Oran sandals. Beware of quotas though… By turning what could be a typical stock clearance into a high-profile event, Hermès offers a masterclass in Luxury branding. And rewrites the rules (once again). #luxuryindustry #luxuryretail

The luxury industry's focus on ultra-wealthy shoppers has led to overlooking the crucial role of the middle class. According to Boston Consulting Group, over half of global luxury purchases come from middle-class consumers spending less than €2,000 annually on designer goods. In contrast, the very wealthy, comprising only 2.5 million individuals, account for 10% of luxury sales by spending over €20,000 yearly. While these heavy hitters play a significant role, the industry's growth in the past decade has been largely driven by aspirational shoppers, especially in Asia. Learn more: https://lnkd.in/g5n2A-Pu

A wave of European luxury retailers, including Gucci and Chanel, and other high-end brands are expanding more aggressively in the U.S. "They are signing leases for bigger space, offering more food and drink, and venturing beyond their traditional high-street addresses into new markets," as they recognize real estate's importance in brand growth and identity. I've linked the full article below which dives further into the positive leasing trend here: https://lnkd.in/gnPuzk_y #realestate #luxury #luxuryretail #atlanta #southeast #market #retailspace #development #leasingtrends

The U.S. retail real estate market is fairly dismal, with the exception of warehousing and high end luxury brands, tripling the retail sectors square footage leasing over the past year. France’s Van Cleef & Apels, Chanel, and Gucci have all expanded retail space in the United States. Luxury retail sales are up 9 percent this year versus last year. Retailers continue to expand the size of space, up 28% in size of deal from last year. #luxurybrands #luxuryhotels #luxuryhospitality #luxuryretail

Various luxury houses released their earnings report recently, and while Kering has been hogging headlines for the wrong reason (i.e. Gucci), LVMH and Hermès appeared to be doing well (and will continue to do so). I shared my thoughts about the luxury market in Singapore, via a short interview with Retail Asia, Charlton Media Group, around topics such as Personalization and Exclusivity, what the second-hand luxury market means to brands, and which entities within the luxury sector will boom in the coming months. Share your thoughts and comments with me! #kadenceinternational #marketresearch #luxuryretail #retail #whatsnext https://lnkd.in/dyQf8DKW

💡 Reflecting on Gen Z's luxury journey, it's more than new items saturating streets. Personalised narratives in pre-owned pieces captivate, a touch missed by mass-produced luxury. Sustainability is another key element; choosing pre-owned signifies quality and an eco-conscious approach. Embracing pre-owned is strategic, connecting with consumers valuing quality and sustainability. This reflection dispels market cannibalisation myths, showcasing pre-owned luxury as a thoughtful strategy for brands resonating with the next generation. To stay relevant, brands should leverage auction and trading technology for personalised, sustainable, and authenticated secondhand luxury experiences. This not only builds trust but also expands global reach, tapping into new customer segments🌐 #GenZ #LuxuryJourney #Sustainability #AuctionTech

🌟 A new trend is reshaping luxury retail! 🌟 Luxury retailers are increasingly opting to buy rather than lease iconic buildings for their flagship stores. This strategic move not only enhances brand recognition but also creates unique shopping experiences that resonate with modern consumers. 🏙️✨ Discover how industry giants like Prada and Kering are leading this trend and what it means for the future of retail in our latest blog post. 🔗 Read more here: https://lnkd.in/gbZKyyjM #LuxuryRetail #RetailTrends #BrandStrategy #CustomerExperience #RealEstate

Today's Luxury Friday discussion focuses on a pivotal trend in the luxury market: sustainable luxury. Forward-thinking brands like Gucci are leading the charge, demonstrating that luxury and sustainability can coexist beautifully. From using eco-friendly materials to advocating for ethical manufacturing practices, these brands are redefining what it means to be a luxury brand in the modern world. This shift not only appeals to the environmentally conscious consumer but also sets a new standard in the luxury industry. How do you see sustainable practices influencing the future of luxury, and what steps can businesses take to align with this trend? #SustainableLuxury #LuxuryFashionTrends

🔴 Luxury Brands Have a Strict Hierarchy. Burberry Found Out the Hard Way. - The Wall Street Journal Hey LinkedIn fam, check out this fascinating article from The Wall Street Journal shedding light on the challenges luxury brands face in maintaining their status and appeal in today's market. The recent misstep by Burberry serves as a reminder of the delicate balance these brands must strike. It's a thought-provoking read for anyone interested in brand management and the ever-evolving dynamics of the luxury industry. #LuxuryBrands #BrandManagement #WSJArticle https://ift.tt/ctrN9oZ

Luxury and premium brands both aim for excellence, but their approaches differ significantly. Luxury whispers exclusivity. Think Hermès handbags or Rolls-Royce cars: limited availability and top-notch craftsmanship create a status symbol. Rich heritage and bespoke service solidify their timeless prestige. Premium shouts innovation for the achiever. Apple and Tesla exemplify this. They offer superior quality and cutting-edge features, making them a step above the ordinary. Their focus is accessibility, not exclusivity. At ADSTRAT BMC we understand the nuances of both luxury and premium branding. We craft targeted strategies that resonate with your audience, whether you aspire to embody the exclusivity of a luxury brand or the innovation and quality of a premium brand. Send us a DM today and discover how we can help elevate your brand to the next level. #ADSTRATBMC #BrandManagement #BrandMangementAgency #BrandMangementInNigeria #BrandIdentity #Premiumbranding #Luxurybranding #Premiumvsluxurybranding