Luxury has always been built on discipline. Scarcity, heritage, and control transform objects and experiences into symbols of status. Social media, by contrast, is designed for ubiquity. It rewards repetition, frequency, and immediacy. The question for luxury leaders is not whether to participate, but how to participate without losing what makes them distinct.
Exclusivity has always been the currency of luxury. Scarcity, discretion, and control are what transform an object into a symbol of status. From the earliest maisons to today’s most ambitious startups, prestige has been built on what is withheld as much as what is revealed.
A New York minute ago, quiet luxury replaced conspicuous consumption and became all the rage. Now, it’s retreated from the headlines with fashion insiders rejecting the phrase as too overused: “An overly TikTok-ified way of describing classic, refined clothing,” the Wall Street Journal reports. Italian designer Brunello Cucinelli, who fully embraces the trend if not the terminology, prefers the phrase “gentle luxury.”
According to a new survey from Boston Consulting Group and Worth Media Group, affluent Millennials prioritize spending on luxury goods over experiences, challenging the popular notion that the next-generation is more experientially minded.
Whether culture shapes brands or brands shape culture is a chicken or egg question. Both are inextricably linked, and a review of the academic literature doesn’t help tease out which comes first. Rather, the research focuses on how culture influences consumer’s perceptions of brands, not the role that brands play in influencing culture.
