Industry Research

How Will Luxury Services Follow The Wealth In 2016?

Posted on January 8, 2016

What are they thinking, what will they want? There is a very real chance this year that luxury brands will face hurdles in reaching the ultra wealthy.
What are they thinking, what will they want? There is a very real chance this year that luxury brands will face hurdles in reaching the ultra wealthy.
Spending among the ultra wealthy will be challenged in 2016; it was already on a downward trend in 2015, as a result of the global economic and geopolitical environment. At the same time, people are evolving their tastes to include experiences and perhaps even favor experiences over products. However, luxury brands have not been quick to develop or expand those offerings. That poses a problem.

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