Veganism aims to establish itself in the luxury market
Implications - Veganism is now, as a marketing tool, being positioned to define itself in a more “upscale” market. This more explicit targeting to high-income demographics undercuts long-established assumptions, and reveals the industry’s renewed focus to rebrand its appeal after it has been found that the majority of this lifestyle’s subscribers are not from higher income brackets—revealing the importance of adaptable marketing in changing long-established narratives.
Workshop Question - How can your brand adopt, or put to better use, more adaptable forms of marketing?
Trend Themes
1. Luxe Veganism - More explicitly targeting high-income demographics to define veganism in the upscale market.
2. Plant-based Luxury Products - Growing demand for vegan luxury products that offer benefits beyond affordability.
3. Vegan Fashion - More companies are bridging the gap to introduce high-quality, vegan fashion products.
Industry Implications
1. Food and Beverage - Creating vegan alternatives or plant-based luxury products such as vegan caviar, apple leather and avocado-shaped gelato desserts.
2. Hospitality and Tourism - Introducing specialty options, such as vegan-friendly tea parties and vegan afternoon tea, as a means of reaching out to new audiences.
3. Fashion - Bridging the gap to introduce high-quality, vegan fashion products, such as vegan knitwear and luxury vegan jacket collections.
