3 Essential luxury strategies for 2021

3 Essential luxury strategies for 2021

2021 will be a critical year for luxury, and brands that aren’t preparing for a shift towards Gen-Z preferences will risk losing long-term relevancy. 12 to 15 percent of the luxury purchases are already being made by Gen Zers in China. And, by 2030, Gen Z will account for the majority of luxury purchases — not only in China but all over the world.
Gen Zers view luxury brands much differently than previous generations by expecting them to have a purpose and a political position, which is fundamentally opposed to traditional corporate branding strategies that avoid polarizing stances at all costs. Read more…