Over the years, with more and more consumers increasing purchasing power and accepting their zest to shop luxury items, the entire industry has witnessed a mammoth change. Aspirational buyers have turned into regular consumers thus ensuring an increase in the consumer base for globally. However, with the current situation and…...

Coronavirus achieved what the Second World War failed to do: the closure (albeit temporary) of Harrods of London, the largest luxury store in the world. As a symbol of the pandemic’s impact on the luxury market, it was a powerful one. Geographically, the crisis hit the sector hard: it started…...

The luxury retail segment is experiencing a transformation and with that comes a slew of myths, according to research conducted by the Luxury Institute and its Global Luxury Expert Network. The organization has identified 12 myths — what it it also views as top obstacles — to high performance retail…...

In the world of online retail, there are numerous trends to keep an eye on. Some of them we’ve already mentioned on the Styla blog before: it’s a tight focus on selectively chosen KPIs, an increase in mobile users, the rise of social media, the growing popularity of shoppable content… There’s another trend, however,…...

Luxury brands are reinventing and reimagining themselves in new ways, as values-driven consumers control the market and sustainability becomes the leading principle of business. Especially in the COVID-19 era, luxury goods companies are seeking new and meaningful ways to connect with their customers. According to Deloitte’s Global Powers of Luxury Goods…...

The end-goal of every good product or service is to meet a need but that need may not necessarily be physical. Luxury brands are most sought after for emotional satisfaction. They pander to the consumer’s emotion and create a feeling of prestige. In most cases, having a luxury brand gives…...