Category
Business
Assisted Conversion
Trend cluster
Category
Accessible
Luxury
Consumers who feel guilt over splurging on luxuries turn to other options.
4.9
Trend score
Trend
What is the Accessible Luxury trend?
Accessible Luxury: With the global economy being severely affected by the ongoing pandemic, many people are choosing to be more understated in their purchases--opting for resale luxury items or high-quality non-designer purchases instead of expensive designer goods.
Insight
The consumer insight behind the Accessible Luxury trend
As is the pattern after all economic crises, consumers are currently more wary of spending money on luxury items due to the financial stress that so many are under. In times of economic uncertainty, even those who remain privileged choose to be more understated in how they present themselves outwardly.
Trend themes
Themes within the Accessible Luxury trend
Three behaviours holding the trend together01
Resale Luxury Items
In times of economic uncertainty, consumers are opting for resale luxury items or high-quality non-designer purchases instead of expensive designer goods, creating an opportunity for resale luxury platforms.
02
Accessible Luxury
Luxury brands are offering affordable options, such as Porsche's single-vehicle subscription service and Mango's affordable quilted totes, to appeal to the more price-conscious consumer segment.
03
Sustainable Luxury
Brands, like Linjer, are committing to sustainability by offering premium products at accessible price points and using recycled materials to appeal to environmentally-conscious consumers.
Industry implications
What the Accessible Luxury trend means for industry
Where the trend changes the playbookFor
Resale Luxury Platforms
Resale luxury platforms have an opportunity to cater to consumers who are opting for resale luxury items as a more affordable alternative to designer goods.
For
Affordable Luxury Products
The market for affordable luxury products is growing, creating opportunities for luxury brands to offer affordable options and for fast fashion labels to offer luxury-inspired pieces.
For
Sustainable Luxury Brands
Luxury brands that commit to sustainability have an opportunity to reach a growing segment of environmentally-conscious consumers, who prioritize sustainability in their purchasing decisions.
Workshop question
How is your brand prioritizing accessibility over luxury?
Trend signals
Trend signals for Accessible Luxury
Trend score 4.9 out of 10, from popularity 66%, activity 68%, freshness 12%.
Popularity66%
Activity68%
Freshness12%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X
- Boomer
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Accessible Luxury trend
5 featured examples from Aug 26, 2020 to May 25, 2022CategoryBusiness
Premium Jewelry Resale Platforms
Rebag Expanded its Offering to Include Watches and Fine Jewelry
Disruptive innovation opportunity: Develop an online marketplace specifically for the resale of luxury goods, creating a sustainable and accessible way for customers to buy and se…
CategoryFashion
Affordable Quilted Totes
Mango's Quilted Shopper Bag is an Affordable Take on Luxury Staples
The fashion industry can take advantage of the trend by creating affordable quilted accessories that mimic high-end designs.
CategoryFashion
Affordable Luxury Watch Cases
Luxury Watch Rolls Has Created Handmade Italian Leather Cases
The watch accessories industry can tap into the trend of affordable luxury watch cases by focusing on innovative designs and cost-effective materials.
CategoryEco
Luxury Scandinavian-Designed Accessories
Linjer Rejects Fast Fashion and Supports Sustainability
Linjer's success in offering luxury Scandinavian-designed accessories at accessible price points presents an opportunity for disruptive innovation in the luxury accessories market.
CategoryAutos
Luxury Car Subscription Services
Porsche Recently Added a Single Vehicle Option to Porsche Drive
Disruptive innovation opportunity: Revolutionize the automotive industry by offering subscription services that provide more flexible and convenient options for consumers.
