Marcus Nymand Jacobsen’s Post

Luxury as a sociological phenomenon of consumption has always evolved along with the evolution of society, across times. New, younger, affluent consumers who think and feel differently than their parents and grand-parents are coming in the market and somewhat shaping what is now called Modern Luxury. Unusual partnerships and collaborations between brands to provide unexpected, creative, multi-faceted experiences is one of the 9 ingredients of the so called Modern Luxury that appeals to wealthy Millennials and Gen Z clients. Read the story about this unusual collaboration of Estée Lauder and Messika blending jewelry and cosmetics. https://lnkd.in/dsTyb8tC #esteelauder #messika #modernluxury #unusualcollaboration #luxury #creativity

The luxury industry braces itself for potential turbulence ahead as Q1 unfolds. Vogue Business offers a peek behind the curtain, providing essential insights into the evolving landscape of high-end fashion. Let's delve deeper with some educational insights: 👥 Consumer Behavior Shifts: Understanding changing consumer behaviors is paramount for luxury brands navigating uncertain times. Analyzing trends in spending habits and preferences can inform strategic decisions. 🛍 E-commerce Acceleration: The pandemic accelerated the shift towards e-commerce in the luxury sector. Brands must continue to prioritize their digital presence and omnichannel strategies to meet evolving consumer expectations. 🌍 Sustainability Imperative: With increasing consumer consciousness, sustainability remains a critical focus area for luxury brands. Integrating sustainability into business practices not only aligns with consumer values but also future-proofs the brand in a rapidly changing market. How can luxury brands adapt to the evolving consumer landscape and economic uncertainties? #LuxuryIndustry #ConsumerTrends #EcommerceEvolution #Fashion #Voguebusiness https://lnkd.in/dNh6DSY8

𝐄𝐦𝐛𝐫𝐚𝐜𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐒𝐩𝐞𝐜𝐭𝐫𝐮𝐦 𝐨𝐟 𝐋𝐮𝐱𝐮𝐫𝐲 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬 Amid economic challenges, the luxury fashion industry has shown resilience, adapting strategies to navigate shifting landscapes. While high-net-worth clients have rightfully garnered attention, it's crucial not to overlook aspirational luxury consumers (ALCs). ALCs, who represent a significant market segment, often find themselves misunderstood. Dispelling myths surrounding ALCs is vital, given their substantial contribution to the fashion and luxury markets. To truly thrive, luxury brands must broaden their focus and understand the diverse communities within the aspirational luxury consumer base. By targeting five distinct ALC communities, brands can tap into significant growth opportunities. Moreover, embracing tailored and hyperpersonalized strategies is key. Deep customer insights derived from extensive data analysis empower brands to innovate strategically, ensuring relevance in an ever-evolving industry landscape. Especially in the Retail realm we need to adapt really quickly to different types of customer personas and preferences to build strong and meaningful connections to our clients. Let's collaboratively invest additional effort in gaining a comprehensive understanding of our customers, laying the groundwork for all our endeavors! Dive into the report of McKinsey and read more about the different ALC Communities... #LuxuryFashion #ConsumerInsights #AspirationalLuxury #Hyperpersonalization

💫𝐎𝐫𝐠𝐚𝐧𝐢𝐜 𝐋𝐮𝐱𝐮𝐫𝐲 𝐏𝐞𝐫𝐟𝐮𝐦𝐞𝐬: 𝐅𝐮𝐞𝐥𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭🌺✨ The Global #Luxury_Perfume_Market is projected to grow at a #cagr of around 𝟕.𝟕% during the forecast period, i.e., 𝟐𝟎𝟐𝟑-𝟐𝟖. 🚀 𝐒𝐞𝐞𝐤𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧? 𝐒𝐞𝐜𝐮𝐫𝐞 𝐚 𝐍𝐨-𝐜𝐨𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟐𝟎𝟐𝟒-𝟑𝟎) - https://lnkd.in/giCms7ah 🌐𝐆𝐥𝐨𝐛𝐚𝐥 𝐋𝐮𝐱𝐮𝐫𝐲 𝐏𝐞𝐫𝐟𝐮𝐦𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐓𝐫𝐞𝐧𝐝: 𝐌𝐨𝐝𝐞𝐫𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐂𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐏𝐞𝐫𝐜𝐞𝐩𝐭𝐢𝐨𝐧𝐬 𝐄𝐧𝐜𝐨𝐮𝐫𝐚𝐠𝐢𝐧𝐠 𝐭𝐡𝐞 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐔𝐧𝐢𝐬𝐞𝐱 𝐏𝐞𝐫𝐟𝐮𝐦𝐞𝐬 - The adoption of the western lifestyle and the rise of modernization is one of the key trending aspects for the luxury perfume market. As consumers are focused much on expressing their individuality and perceptions confidently, manufacturers are much more engaged in the market trying to bring affordable and unique choices. Thus, the demand for unisex perfumes becoming a trend and gaining popularity all over the world. In addition to this, the responsible concern over the environment and climate change, there is an increased popularity focusing on sustainable and eco-friendly products, thereby encouraging the introduction of unique and sustainable perfumes by luxury brands.🌟 🌐𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: Bulgari S.p.A., Chanel S.A., Clive Christian, Estée Lauder Companies Inc, Floris London, Gianni Versace S.r.l., Giorgio Armani S.P.A., Guccio Gucci S.p.A, Hermès International S.A., L&L Luxury Company LTD, Louis Vuitton, Luxury Fragrance Company, LVMH, Prada, Ralph Lauren Corporation, Others #luxuryperfume #organicperfume #naturalingredients #socialmediainfluence #celebrityendorsement #perfumetrends #ecofriendlyproducts #giftingtrends #urbanization #percapitaIncome #fmcg #marknteladvisors #marketresearchreport #marketforecast #marketanalysis #getfreesample #consulting #consultingservice

𝗜𝘀 𝘁𝗵𝗲 𝗙𝗿𝗮𝗴𝗿𝗮𝗻𝗰𝗲 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗮𝘁 𝗮 𝗧𝗶𝗽𝗽𝗶𝗻𝗴 𝗣𝗼𝗶𝗻𝘁? With the market poised to grow 6% annually by 2030, driven by the luxury segment, I’m wondering what brands have in store to keep thriving in this dynamically evolving environment. A few days ago in Paris, I treated myself to an olfactory wander, and the contrast between the historical market leaders and new players was quite striking. Traditional fragrance houses long the stalwarts of the perfume industry, however, this narrative is being rigorously challenged as new niche and natural/organic brands begin to make significant inroads. These emerging players are not just filling gaps; they are redrawing the boundaries of what defines luxury. ••••••••••••• I’d love to hear your thoughts on how these new codes of luxury are reshaping the fragrance industry. What changes have you noticed, and how do you think they will impact the future of luxury scents? Please share your insights below!😊👇🏾 #fragrancetrends #fragrancemarket #nichebrands #brandstrategy #beautyindustry

𝗧𝗵𝗲 𝗡𝗲𝘄 𝗙𝗮𝗰𝗲 𝗼𝗳 𝗟𝘂𝘅𝘂𝗿𝘆: 𝗖𝗵𝗲𝗺𝗶𝗰𝗮𝗹-𝗙𝗿𝗲𝗲 𝗕𝗮𝘁𝗵 𝗮𝗻𝗱 𝗕𝗼𝗱𝘆 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝘀 Consumers' thirst for #sustainable and #clean bath and body products is fueling the rise of luxury options. They associate cleanliness with premium quality, believing that investing in quality products ensures gentleness on their skin and long-term benefits. ✨ Manufacturers are responding by crafting chemical-free formulations to attract this segment of consumers, exemplified by Bath & Body Works' launch of a chemical-free hand wash collection in eco-friendly packaging, meeting consumer demands for quality without compromise. Gather more insights on Global Luxury Bath and Body Products Market: https://lnkd.in/gfYPPwFx The Estée Lauder Companies Inc., CHANEL, Aromatherapy Associates (Walgreens Boots Alliance), Kao Corporation, Victoria’s Secret & Co., Hermès, THE LUXE MAISON, Christian Dior Couture, This Works (Canopy Growth Corporation), Augustinus Bader (ASC REGENITY LIMITED), Diptyque Paris, Omorovicza Cosmetics, Tata Harper Skincare (Tata's Natural Alchemy, LLC), Bath & Body Works, TATCHA Market Xcel | Manish Narang | R Vishal Oberoi | Kapil Narang | Vivek Gupta | Manas Gupta | Varun Pathak | Sapna Singh | #bath #body #products #luxury #consumer #quality #chemicalfree #chemical

In a market grappling with economic challenges and shifting consumer demands, luxury brands face a dilemma of catering to top clientele while reaching new audiences, according to new research by consulting firm Bain & Company. What's driving growth is a "dual strategy" that creates desire for VIP clients, while crafting "smaller luxury indulgences" such as experiences, makeup, fragrances and eyewear. FULL ARTICLE: https://lnkd.in/ghBpAWA4 #retailinasia #retailnews #luxurymarket #luxurygoods #marketforecast #consumertrends Subscribe to our bi-weekly newsletter: https://lnkd.in/dhj9z734

I thought this article by Ad Age discussing the Top 20 Gen Z Brands by Equity Growth this quarter was very insightful. As #GenZ become more aware and strategic with their purchases, it is interesting to see that on the luxury consignment site The RealReal, handbag demand among Gen Zers is up by 136% since 2019, according to The RealReal’s 2022 Luxury Resale Report. We all want to have nice items but who can A) pay full price and B) want to support these companies directly and buy new? 🛍 I found it interesting that it looks like building brand equity by promoting second-hand items can turn into new sales for the brand, with Hermès for example reporting a 16% increase in sales in the third quarter of 2023, followed by a 17% fourth-quarter jump. I’m curious how brands can continue to tap into the second-hand market to make themselves stronger. Also thoroughly enjoyed #PeppaPig ranking number two on the list. 👀 https://lnkd.in/etCduXxQ

"𝐋𝐮𝐱𝐮𝐫𝐲 𝐆𝐨𝐨𝐝𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 2023: 𝐆𝐫𝐨𝐰𝐭𝐡 𝐅𝐮𝐞𝐥𝐞𝐝 𝐛𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲-𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞𝐝 𝐅𝐚𝐬𝐡𝐢𝐨𝐧 𝐚𝐧𝐝 𝐑𝐢𝐬𝐢𝐧𝐠 𝐌𝐢𝐝𝐝𝐥𝐞-𝐂𝐥𝐚𝐬𝐬 𝐈𝐧𝐜𝐨𝐦𝐞 𝐢𝐧 𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜" https://lnkd.in/gDy6agvn Market Value: Luxury Goods Market Market: size was valued at USD 447.63 Million in 2023 and the total Market revenue is expected to grow at 4.1% from 2024 to 2030, reaching nearly USD 593.02 Million. Market Overview: In economics, a luxury good is defined as a product where demand grows at a faster rate than income, leading to a larger share of total spending being devoted to it as people become wealthier. This contrasts with necessity goods, which see a smaller increase in demand relative to income growth, meaning they take up a smaller portion of spending as income rises. Market Dynamics: A significant trend is the rise of technology-integrated products. Stylish, cutting-edge items that incorporate technological features into accessories like jewelry, handbags, or eyewear are expected to boost demand for these products. Market Segment: In 2023, the offline segment leads the luxury goods market and is projected to maintain its dominance throughout the forecast period. Additionally, event monitors hold the largest market share for the year. https://lnkd.in/gMQmyuQ4  Market Regional Insights: The Asia Pacific market is expected to experience rapid growth, driven by the rising disposable incomes of the region's expanding middle class. Greater availability of international luxury brands will likely result in higher product consumption. #LuxuryGoodsMarket #TechInFashion #LuxuryLifestyle #SmartAccessories #FashionInnovation #FlowChemistry #SustainableLuxury #LuxuryBrandsAPAC #MiddleClassGrowth

Recently the brand H&M collaborated with lux designer, Anamika Khanna. The collab was the talk of the town even before their grand launch. Yesterday, the merchandise was launched in H&M stores all over the country & guess what??? As of this morning EVERYTHING is SOLD OUT!!!! Interesting consumer behaviour here: 1. **Perceived Value and Exclusivity** Luxury brands are often associated with exclusivity, high quality, and status. When these items are made accessible, consumers may perceive an opportunity to own something aspirational at a more accessible price and as a result they get to be a part of that exclusivity. 2. **Fear of Missing Out (FOMO)** Deals on luxury products can trigger a scarcity mindset, leading to heightened consumer urgency and FOMO. Luxury buyers often believe deals are rare, so they may act quickly to purchase an item before it’s gone. And the proof is in the pudding, everything is “SOLD OUT”. And finally 3. **Rationalization of Purchase** Deals on luxury brands can help consumers justify what might otherwise be considered an “extravagant purchase”. The perceived discount on the brand item price provides a psychological cushion, making the purchase feel more justifiable. This collab has truly tapped into the psychological & emotional need of consumers. As of now, there’s only a black t-shirt retailing for 2.5 grand that’s left, so any takers??? #branding #brandcollab #consumerbehaviour