Changing Consumer Trends
Legacy brands have lost touch with new buyers and are desperate to try and capture the younger customer
Millennials do not care about the physical store or mall any more, but instead value genuine and interactive brands
Affordable luxury emphasizes value and quality, facilitates emotions and disruptions, allows for human touch and sustainability
New brand concepts focus on exclusivity, highly impactful distribution, US authenticity, and a curated or influencer-based promotion
Value of using social media to acquire new customers and grow economics is key