The Accessible Luxury Opportunity
The average price of personal luxury goods in Europe has risen by an astonishing 52% since 2019 (HSBC, 2024), creating exciting opportunities for mass- and mid-market brands to pick up aspirational customers feeling left out by the hikes. From atelier-style creative capsules to elevating the everyday, we pinpoint the accessible luxury directives to pursue, with a note of cautionary advice for the real high-end players.
High(er) End High-Street Futures
Elevating the Everyday: Pocket-Friendly Perfection
Advice for Luxury Brands
Mass- and mid-market brands should be engaging with priced-out, luxury-hungry customers by delivering ‘halo’ capsule collections featuring standout design and superior quality fabrics. Meanwhile, elevating your pitch by having a presence on the red carpet is another way to promote higher-end relevance, as is to sprinkle some celebrity-designer stardust over your brand.
Mass- and mid-market brands should be engaging with priced-out, luxury-hungry customers by delivering ‘halo’ capsule collections featuring standout design and superior quality fabrics. Meanwhile, elevating your pitch by having a presence on the red carpet is another way to promote higher-end relevance, as is to sprinkle some celebrity-designer stardust over your brand.
Summary
High(er) End High-Street Futures | Mass- and mid-market brands should be engaging with priced-out, luxury-hungry customers by delivering ‘halo’ capsule collections featuring standout design and superior quality fabrics. Meanwhile, elevating your pitch by having a presence on the red carpet is another way to promote higher-end relevance, as is to sprinkle some celebrity-designer stardust over your brand. |
Elevating the Everyday: Pocket-Friendly Perfection | As predicted in our Look Ahead 2024, the cost-of-living crisis, in tandem with the ongoing appeal of quiet luxury aesthetics, is driving appetite for elevated everyday items; perfecting the most humble yet useful of pieces via thoughtful design and quality fabrication. This represents a type of luxury that should be accessible to everyone, and a massive commercial opportunity for all kinds of brands and retailers. |
Advice for Luxury Brands | Luxury fashion mark-ups are increasingly coming under harsh scrutiny, with industry observers criticising exponential price rises and social media commentators exposing the real cost of goods to astonished consumers. High-end brands and retailers need to take a reality check on margins and reframe entry-level product opportunities, or risk further damaging their already fragile segment. |
The Accessible Luxury Opportunity
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Want to see the full report?
Offering access to over 350 consumer and cross-industry reports annually, Stylus Membership is your window to tomorrow’s most exciting opportunities.
We already arm more than 500 of the world’s most forward-thinking brands and agencies with the creative insights they need to make transformative business decisions.
We’d love to do the same for you.
Book a demo with us today to discover more.
