NAPLES, Fla. — The good news for the luxury market is the world is in the greatest asset boom in history with Gatsby-flush consumers owning $241 trillion in personal assets, a 5 percent increase from last year, and unprecedented savings to boot. The bad news is they still think there’s a recession even if their bank statements prove the opposite, since job growth remains sluggish and the middle class has little to no discretionary income.
Brands must completely rethink their strategy to recapture savvy, cautious postrecession buyers who have further become invulnerable through online information. Consumers also care more about their feelings, experiences and egocentric selves as personal brands than commercial brands of any sort. They’re also discovering luxury brands through print media, whether editorial or ads, while social media and online marketing are relatively ineffective despite their cool factor.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"