Jul
29
The Devil Shares Prada: Consumers Want Experiences, Not Products
Posted in: Uncategorized
Experiences over possessions. The luxury market’s new mantra has penetrated everything from travel and hospitality to retail and technology. According to a 2013 study by The Boston Consulting Group, $460 billion was spent on unique travel adventures, compared with $170 billion spent on personal luxury goods.
With the experiential luxury sector consistently outperforming any other sector of luxury goods, luxury brands are challenged to become purveyors of self expression and lifestyle.
The sharing economy can help
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