Second-hand and rentals: the new dynamics in the luxury market
SDA Bocconi Insight - Zoom On
Today’s high-end consumers seem to be going through a phase: consumption drivers are being upended, and the very notion of luxury is progressively morphing. Rather than revolving around exclusivity, their focus is now the unique. To be an object of desire, a hefty price tag that only a few can afford is not enough – instead that object must truly be one of a kind. And this is possible thanks to personalization tailored to specific customer preferences, which in turn is fueling the growing phenomenon of product customization in the luxury world.
A product can be truly unique when it has an unusual story to tell, a “life experience” that distinguishes it from any possible replica.
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