Customers today, specifically Gen Zs and millennials, actively look at the whole brand story before investing in a product. Is the brand driven by a key social purpose? Do the brand values align with their beliefs? Is the brand engaging in environmentally friendly practices at all stages-from production to packaging?
Sustainability is a key concern today. Globally, Gen Zs and millennials are increasingly and consciously making choices towards positive climate action. Today's consumers are demanding more sustainable products, especially since the onset of the pandemic. Luxury brands have been no stranger to this pivot in customer sentiment, although the industry has historically relied on its linear "take-make-use-waste" philosophy.
During the pandemic, the results of the Deloitte Global Consumer Tracker Survey consistently indicated that consumers were willing to spend more on products that emanated from sustainable and socially conscious brands. In this digital era, consumers are hungry for more information-to ensure that they purchase products that reflect the ethical values they believe in.
The move towards sustainability is more relevant today than ever. With the top 100 luxury goods companies seeing growth much higher than pre-pandemic levels-21.5 percent year-on-year with composite sales of US$305 billion, it is evident that the willingness to pay for luxury goods is higher today. Coming together in the fight against climate change, luxury goods companies can accelerate their green transition through three key steps:
Sustainability by Design
Diese Geschichte stammt aus der April 2023-Ausgabe von Images Retail.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der April 2023-Ausgabe von Images Retail.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
How can Brands Delight Customers?
A look at strategies to bring customers back and turn them into potential brand advocates
Smaaash Mulls VR-only Arcades in Future
Avanish Agarwal, Consulting CMO, Smaaash sheds light on business, expansion plans and more
Meesho is Built Upon the Bedrock of Technology
Nilesh Gupta, General Manager, Growth at Meesho shares his insights on the growth factors, technology and relevance of the brand in tier 2 cities and beyond
High Streets Emerge Top Leasing Choice for Luxury Brands in 2023, Malls Remain Second
Malls remain the second most preferred luxury realty category, with 300% Y-o-Y growth with high streets lead with about 45% share in India’s overall luxury retail leasing in 2023
Special Events in Malls
Nexus Select Citywalk and Kiran Nadar Museum of Art (KNMA) organised the collaborative exhibition, ‘The Art Maze; from March 24 to March 31, 2024. Inspired by the works of prominent Indian artists - Lakshman Pai, Raja Ravi Verma, Jamini Roy, SH Raza, and Vivan Sundram; The Art Maze aimed to portray an immersive journey into the world of artistic expression for the participants anve d visitors.
CRA Realtors: Inspiring Trust
CRA Realtors boasts about 70% repeat customers, which speaks volumes about the trust the real estate agency has inspired over more than 18 years of existence
Why South India is Witnessing Renewed Retail Surge a
Industry leaders on the factors propelling retail growth in South India and their projections for future expansion metrics in the region
Tier 2 Cities Lead with 64% of March Store Launches
About 48 of all the new stores opened in March 2024 were in non-metros
5 Top Indian Jewellery Brands with the Strongest Retail Footprint
These homegrown jewellery retail gems have been instrumental in shaping the country’s jewellery sector and continue to shine bright amidst stiff competition on the global stage
Demand for Lab-grown Diamonds to Double by 2030. Here's Why
Exploring the different facets of this emerging segment that is increasingly attracting retailers, investors and consumers to it