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.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)