At the #WalpoleBritishLuxurySummit2024 today, discussing the #luxurytrends for this year.
Some key takeaways for the future of luxury in 2024:
- Luxury brands should focus on 'life experiences' and elevating value proposition through personalised engagement as well as service excellence.
- Spend has increased significantly post covid on experiences and goods that offer experiences (such as cars), instead of luxury items - we want to live life to the full.
- Gen Z customers follow purpose-driven brands that inspire them, so it's important to invest in content that shares our stories and educates.
- Customers have high expectations of in-store services and brands must, therefore, invest in hyper-personalised and memorable experiences.
- We can't keep finding new customers, we must take the time to understand, engage, and retain them.
- Luxury should give us the time to slow down, pause, reflect & connect with the world around us.
And finally, men seem to enjoy speaking for longer than their slot! 😌 🗣
#luxurycustomerexperience #luxuryengagement #conciergeforbrands #luxurybritishbrands #walpoleluxurysummit #walpolesummit2024