Consumers who can't afford luxury opt for luxe-branded regular products
Implications - Previously, the divide between the opulent and the frugal was much larger than now, with luxury companies offering bits of prestige in the form of more low-brow, day-to-day products. Consumers who can't buy off-runway clothing, yet still want to brag about their designer products flock to these mundane, yet prestigious products as a compromise.
Trend Themes
1. Luxe-branded Everyday Products - Luxury brands are creating mundane products with their signature branding.
2. High-end Design Collaborations - Fashion designers are collaborating with brands outside of their industry, bringing high-end design to everyday products.
3. Luxurious Personal Care Products - Luxury brands are extending their product lines to include high-end personal care items.
Industry Implications
1. Luxury Fashion - Fashion brands are creating everyday products with their signature look and collaborations with non-fashion brands.
2. Personal Care - Luxury brands are extending their high-end product lines to personal care items.
3. Design and Furniture - Designers are collaborating with companies outside their industry, bringing high-end design to everyday products.
