This article originally appeared in Luxury Daily on February 22, 2016.
While brands acknowledge the importance of digital and consumers begin to search for authentic experiences and services, current market trends suggest that traditional luxury will come full circle, per a new report by the Beverly Hills Conference and Visitors Bureau.
The BHCVB, Beverly Hills, CA’s designated marketing organization, worked with trend forecast agency IN(K) to examine the current landscape of the luxury market and its trends on a global scale. Divided into three chapters, looking at the macroeconomics of top tier international cities, the emergence of digital and ecommerce and luxury values, “The Future of Luxury” report offers insights on the high-net-worth sect’s behavior and attitudes toward the industry.
“Luxury brands can benefit from the findings by learning what the upcoming trends are and how they can adapt their offerings accordingly,” said Julie Wagner, CEO of the Beverly Hills Conference & Visitors Bureau, Beverly Hills, CA. “Whilst acknowledging the importance of the digital environment, luxury consumers will seek out more original and authentic experiences that can’t be seen or bought online.
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