Consumers Given A Front Row Seat To Digital Fashion Shows // The New Luxury Traveller // The Psychology Of A Luxury Purchase

New definitions of luxury travel, new ways to access the best fashion shows and the introduction of the first ever Global Kids Fashion Week. As befits the first new months of a new year, news this week is all about fresh perspectives. If you’ve got a story you think we should know about or you’d like to take part in the discussion tweet us @futureofluxury.

The Business of Fashion – Consumers Invited Front Row at Digital Fashion Shows

Created by PR firm KCD, Digital Fashion Shows, a previously industry-only, live-streaming fashion show platform has announced that it will be opening up its service to allow consumers to watch the latest shows from around the world. Originally intended as a means of enabling time-pressed fashion editors to watch shows without overburdening their already hectic fashion week schedule, consumer appetite for online fashion coverage has spurred on the decision to make the platform available to a wider audience. Of course, bringing brands and consumers together in a single online space opens up all kinds of exciting possibilities for both parties. For brands it means the chance to collect data, gain consumer insight into collections before they go into production and surely, the chance to integrate some kind of ecommerce capability. For consumers it’s immediate access to some of the world’s most exclusive shows and engage by sharing and commenting in real-time. Read more…

Reuters – New Expectations of Luxury Travel

Service, personalisation, authenticity – otherwise known as the three key features demanded by the new breed of luxury traveller. Luxury travel companies are finding that as the world slowly emerges from the recession its effect can be felt in new interpretations of the term. Wary of conspicuous consumption, those seeking a luxury travel experience are no longer looking to be separated from the ‘real’ world in a hermetically sealed luxury hotel room but would rather seek out unique and authentic experiences, access to exclusive locations – all with a bespoke twist.  As CEO of tour company Abercrombie & Kent says “people don’t care as much about the hotel room. The key thing they want today is personal service. The guide has to be real. People love things they can’t Google.” Read more…

Psychology & Marketing – Why we Buy is Related to Our Cultural Perceptions of Luxury

A study published in the journal of Psychology & Marketing details findings of research conducted across ten international universities looking at the psychology behind luxury purchases. That Luxury purchases are borne out of desire, not necessity, is not a new revelation, but what is valuable is how brands apply these insights to inform their marketing strategies. Overall, US luxury consumers are motivated by hedonism, whereas in France luxury items are valued because they are reassuringly expensive and exclusive. Read more…

Fashionbi – London to Host First Children’s Fashion Week

Move over menswear – the latest luxury market to experience a lift is childrenswear. The news that London is soon to host the first-ever Global Kids Fashion Week is surely set to see this market grow exponentially over the coming years. Burberry reportedly made £66 million from its children’s line (20011-12) so it’s no great surprise that other luxury brands such as Oscar de la Renta, Marc Jacobs and Lanvin have all added childrenswear to their offering. How this new market develops and what marketing approaches will be used will be interesting to watch. Read more…