Raju Ghivari (MBA-Finance)’s Post

New blog article 📝 How Is The Luxury Market Accelerating Growth For 2024? Prospects for luxury look better in the coming months than for the wider fashion sector in an otherwise uncertain market. The accelerated growth luxury retailers have experienced can be attributed to a few of the factors highlighted in this blog. Written by: Alexander Otto, Head of Corporate Relations at Tradebyte Read the full article here 👉 https://lnkd.in/eq5bctuD

"Two of the world's biggest luxury brands may be sitting on a whopping €4.7 billion worth of unsold goods." "Rental and resale platforms are booming, giving new life to pre-loved luxury items. By extending the lifespan of these products, we reduce the need for new ones." Over production and excess stock is still such a problem in the fashion industry. Marketing practices like scarcity tactics, limiting supply despite stock being available exacerbate the issue. The sooner we can get luxury fashion houses on board with alternative solutions such as the circular economy the better. #sustainability #circulareconomy https://lnkd.in/ekAK-tVm

Fast fashion or luxury? Today's consumers are choosing both. While fast #fashion and "quiet" luxury - think timeless, well-crafted basics without logos or branding - have often been seen as two different markets, a recent report by Radial Inc. shared insights that consumers haven't been limiting themselves to one or the other. Why the shift? With a focus on #sustainability and occasion rather than just budget alone, today's consumers purchase items from each style. Fast fashion offers access to trends and affordability while quiet luxury goods provide higher-quality materials, with a longevity that benefits the #environment. Survey data confirmed this trend with a revealing split - respondents' wardrobes, on average, were about 69% quiet #luxury and 31% fast fashion. What's the takeaway for retailers? It's not about pitting fast fashion against luxury. Rather, it's about learning from each other. Quiet luxury brands excel in hyper-personalized content and consistent messaging. In contrast, fast fashion brands shine with #multichannel presence and seamless transitions between shopping modes. Our #consulting team can help you leverage these trends and implement best practices that will help you brand excel in any market. Follow Green Retail Consulting to stay ahead of the curve, and connect with our seasoned experts today. https://lnkd.in/eQB5rqHG

Interesting read on luxury segmentation by McKinsey.

The luxury goods market has created its own crisis, and it won’t recover until after 2027. People aren't shopping luxury like they used to and it might not be the same ever, new State of Fashion report finds. Read More: https://lnkd.in/gHcq949T #LuxuryConnect #LuxuryCruxx #LuxuryMarket #LuxuryGoods #StateOfFashion #MarketSlowdown #LuxuryTrends #ConsumerBehavior #EmergingMarkets

Luxury fashion thrives in recessions by emphasizing timeless value and superior craftsmanship, appealing to affluent consumers as investments. Brands strengthen loyalty through personalized experiences and digital engagement, such as virtual fashion shows. Selective discounting and sustainability practices preserve brand prestige. Expanding into emerging markets and launching limited editions drive demand, ensuring resilience and growth. #luxury #luxurybrands #hermes #chanel #louisvuitton #moynat #bof #businessoffashion

We've just published our latest Business article: 😎 Redefining Luxury: Is the Era of Unchecked Opulence Over? The luxury fashion industry faces a global slowdown, critical shifts are prompting brands to adapt. Recent analyses reveal notable sales declines among major players, compounding the challenges of rising prices and changing consumer preferences. The market has lost millions of customers, particularly with younger demographics prioritizing authenticity and value over conspicuous consumption. How are brands responding? Brands like Gucci and Saint Laurent are undergoing leadership changes as they seek to revitalize their appeal. Innovations in materials, technological advancements, and a focus on curated shopping experiences are becoming essential for brands aiming to maintain relevance, addressing both ethical considerations and consumer desires for unique, meaningful products. Read the article to find out how luxury vegan brands can respond to this shift: https://lnkd.in/dGw32Jv4 #LuxuryFashion #SustainableLuxury #VeganFashion #EcoChic #ConsciousLuxury #FashionRevolution #TimelessElegance #GreenFashion #LuxuryRedefined #EthicalStyle #FutureOfFashion #Sustainability #VeganChic #SustainableLiving #OpulenceWithPurpose

McKinsey has released more detail about the study it did about Aspirational Luxury Fashion consumers and it is well worth a read! One of the most compelling data points is that according to McKinsey Aspirational luxury fashion consumers account for 50% of luxury fashion sales. I also particularly like the myth busting they do about aspirational luxury fashion consumers. The report also identifies different segments and provides insight into how their attitudes differ. It's worth noting here that different studies use different definitions. McKinsey considers Aspirational Luxury consumers those who spend between €3,000 and €10,000 annually on fashion. BCG, however consider aspirational luxury consumers those who spend up to €5,000 on luxury. I'd love to know if there was anything in the report that surprised you. (ps: the report report needs to be downloaded, but is free) #luxury #luxurystrategy #fashion

The state of Fashion- luxury report is out.. Great insights for fashion and luxury retail -The global luxury market is expected to grow 2 to 4 percent per year between 2025 and 2027. -Leather goods and jewellery are projected to be the fastest-growing categories at 4 to 6 percent per year. -Top-spending clients will create 65 to 80 percent of global market growth through to 2027 For detailed insights pls go through the report.. #fashion #retail #luxury #stores #customerjourney