(Author, 2021)
As wellness becomes a priority for affluent consumers, there are numerous opportunities for luxury brands to meet this growing interest. Brands could create personalised and meaningful experiences with their target audience by understanding their emotional desire. After a year of quarantine, people increasingly seek to connect with nature and art and want an escape from the stressful workplace. For future innovation, brands could design a new retail experience incorporating nature elements by vital reality and invite consumers to interact with the installations. Recently, many luxury houses have set up fashion exhibitions. However, the majority of them did not invite the audience to participate in the artworks. The audiences’ emotional journey could be improved if the event provides experience through the four senses (touch, sight, hearing and smell).
Millennials & Older Gen Z High earners not rich yet Acorn: Executive Wealth, City Sophisticates, Career Climbers and Successful Suburbs Psychographic: - Fashion conscious and have a high aesthetic standards - Aware of the latest fashion trends but also have personal styles and preference - Environmental consciousness - Enjoy private events and social networking Behaviour: - Paying attention to the texture of the fabrics while choosing garments - They priorities their health and wellbeing by participating in physical exercises regularly. Also consuming supplements alongside a balanced diet. 8
9
(Table 1.)
