'More' Supports More Conscious Shopping and More Accessible Luxury
Laura McQuarrie — June 2, 2023 — Luxury
References: fashionunited.uk
'More' is the name of a new circular luxury club that allows members to apply for co-ownership of items so that they can purchase shares of listed pieces. Ultimately, this membership service helps to support more conscious shopping habits, all the while making luxury pieces more accessible.
Younger demographics are showing a strong preference for luxury products that align with their values of sustainability, prompting a shift towards conscious consumption and shared ownership. In the realm of luxury fashion, these consumers are embracing this concept, valuing access over sole ownership, as it aligns with their desire for reduced waste and increased versatility. Recognizing this shift, many luxury brands are embracing circularity, offering rental services, pre-owned collections, and innovative recycling initiatives, catering to the changing demands and sustainability aspirations of younger generations.
Younger demographics are showing a strong preference for luxury products that align with their values of sustainability, prompting a shift towards conscious consumption and shared ownership. In the realm of luxury fashion, these consumers are embracing this concept, valuing access over sole ownership, as it aligns with their desire for reduced waste and increased versatility. Recognizing this shift, many luxury brands are embracing circularity, offering rental services, pre-owned collections, and innovative recycling initiatives, catering to the changing demands and sustainability aspirations of younger generations.
Trend Themes
1. Circular Luxury Clubs - Circular luxury clubs are gaining popularity as younger demographics show a strong preference for sustainable, shared ownership of luxury products.
2. Conscious Consumption - The shift towards conscious consumption and shared ownership is prompting luxury brands to offer rental services, pre-owned collections, and innovative recycling initiatives.
3. Access Over Ownership - Younger generations of luxury consumers value access over sole ownership, leading to disruptive innovations in the luxury fashion industry such as co-ownership and shared ownership models.
Industry Implications
1. Luxury Fashion - The luxury fashion industry is embracing circularity, offering rental services, pre-owned collections, and innovative recycling initiatives.
2. Sharing Economy - The sharing economy is being disrupted by the growing popularity of circular luxury clubs and shared ownership models.
3. Sustainability - The trend towards conscious consumption and circularity within the luxury fashion industry presents disruptive innovations and opportunities in the sustainability industry.
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