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The news: Rent the Runway has begun selling resale and new luxury items on an Amazon Fashion online storefront. The subscription-based fashion retailer is selling a range of styles from over 35 brands, as well as designs that are exclusive to Rent the Runway.

Now for luxury brands, they can often have a little more mass appeal. For example, your typical luxury boutique, your Hermes boutique can be very intimidating and particularly if you're just looking for a retail experience as entertainment or you want to browse around or be inspired.

Currently, EssilorLuxottica holds licenses with luxury brands like Armani, Chanel, Prada, and Versace. However, some companies (like beauty brand Coty) started bringing their licensed products in-house, which could mean EssilorLuxottica loses out on those sales. It also adds to EssilorLuxottica鈥檚 own brands, which are more profitable, said Canaves.

Inflation and financial turmoil are driving customers to cut back, especially in high-ticket, luxury, and discretionary categories鈥攚here credit cards are the most popular payment method. Debit spending will grow more than twice as fast as retail overall. Customers will increasingly tap the money they already have rather than accrue debt.

Fashion resale platform Depop, sneaker sites like StockX and GOAT, and luxury marketplaces Watchfinder build on thriving communities of enthusiasts to drive sales. More Amazon sellers are actively looking for additional sales channels.

A discount store, for example, may not want to display ads for luxury cars鈥攅ven if it鈥檚 in the automotive aisle. 3. Triple check that the brands truly don鈥檛 compete. For mass retailers such as Amazon or Walmart, it can be a challenge to identify brands that are really non-endemic.

On the other hand, there鈥檚 a significant subset of consumers willing to spend more on premium brands鈥攁 dynamic that鈥檚 playing out in the grocery aisle as well as in other segments like luxury and apparel. This growing bifurcation means that brands will have to find ways of tailoring their messaging to each group, emphasizing price with cost-conscious customers and quality with wealthier shoppers.

It is also why luxury brand Prada recently opened a store in Austin, Texas. The big takeaway: It鈥檚 becoming increasingly clear that a return to the pre-pandemic office-centric downtown is not going to happen anytime soon (or maybe ever).

Brand example: Athleisure brand Alo Yoga plays to Gen Z by offering affordable luxury that allows young consumers to buy a premium product at a price they can afford. By using influencers like Hailey Bieber and Bella Hadid, the brand emphasizes star quality while remaining accessible. 2. Support mental health.

Not only does this approach fulfill the brand鈥檚 ethos of accessible luxury, but it also allows it to more accurately gauge demand and price sensitivity. Grocery offers another potential use case. More supermarkets are relying on dynamic pricing to mark down goods nearing their expiration dates, allowing them to offer more discounts to shoppers while reducing food waste.

Luxury retailer Saks.com plans to cut around 3.5% of its staff, while sportswear retailer Foot Locker is eliminating 鈥渁 number of鈥� corporate and support roles (it did not reveal the number in its SEC filing). Toymaker Hasbro is laying off 15% of its workforce and consumer packaged goods conglomerate Helen of Troy鈥攑arent company of brands like Oxo and Vicks鈥攊s cutting roughly 10% of its staff.

Many seek out vintage or second-hand clothing and accessories because they align with their sustainability values while also delivering deals, including on more expensive luxury goods.

Shoppers are cooling on luxury purchases, Saks Fifth Avenue says. 4 steps to a better ecommerce strategy. Amazon and Sweetgreen find the tide has turned on positioning themselves as tech companies. Global Retail Ecommerce Forecast 2023. Yesterday鈥檚 Chart of the Day: The Gen Z gap.

鈥淐onsumers are continuing to spend on beauty even while they cut back on other areas because it鈥檚 seen as an affordable 濒耻虫耻谤测,鈥� said our analyst Sky Canaves. The lipstick effect has occurred during past recessions, but this time, it鈥檚 heightened by an increased attention to wellness and self-care鈥攁 persisting trend brought on by the pandemic. Major retailers and brands are feeling the impact.

The company鈥檚 Bloomingdale鈥檚 subsidiary grew its active customer base 5% as demand for luxury remained strong; high-end beauty remained robust, helping Blue Mercury grow its customer base 12% and sales by 7.2%. Macy鈥檚 is confidently pushing forward with its three-year 鈥楶olaris鈥� turnaround strategy, which is pushing it in the right direction.

Neither company is new to collabs, and Crocs has remained relevant through high-profile partnerships with the likes of luxury brand Balenciaga and art collective MSCHF. McDonald鈥檚 is Gen Z鈥檚 No. 3 favorite restaurant brand, according to Piper Sandler data from fall 2023. US footwear ecommerce sales growth is speeding up.

These options unlock creative opportunities for advertisers, especially those at major heritage brands and luxury labels, which may prefer showcasing products in more traditional, polished ways. 2. The shopping experience. Where TikTok wins: Frictionless in-app checkout makes it easy for users to see something, then make immediate purchases.

鈥淕one are the brands that could be a little bit of everything to everybody, and even those aspirational luxury brands like the Ralph Laurens or Coachs are really going to have to be careful [with] how they message,鈥� according to Davidkhanian. What to watch for: Consumers will reach for less expensive and private label brands.

Yeah, so I'm going to talk about a luxury retailer called Space NK, and I'm going to talk about its NDULGE Loyalty Programme. It's an interesting one.

But retailers should also invest in higher-tier private label goods to tap into demand for 鈥渂ig night in鈥� luxuries as people go out less. Keep customers coming back with loyalty schemes. Loyalty programs that offer discounts and promotions will become increasingly appealing to price-conscious customers.

Ultra could drive up spending for Revolut by giving customers benefits for higher-cost services like travel, where spending is growing, and luxury goods. As rising credit card debt heightens the chances of defaults, building services for more affluent customers should help offset those risks.

Google Cloud recently asked staff to share desks to control costs鈥攁 surprising move from a company that had long been a bastion of workplace luxury and that would presumably have adequate deskspace after cutting 12,000 employees. The tech giant has become timid about moonshot projects in favor of endeavors with more certain revenue potential.

Tyler Fairchild, managing director at luxury sneaker company Courser, has leaned heavily into paid social since the company鈥檚 2020 debut, but found that investing in photo shoots and other content helped it gain more traction. 鈥淚t shows the power of good, quality content and the value of really spreading it through as many channels as you can,鈥� he said.

Q3 2023 sales and profits were higher than expected, bolstered by more efficient inventory, lower promotions, and investments in high-performing categories such as beauty and luxury. Despite that, the retailer plans to continue reducing its operating costs by cutting around 2,350 positions. Department store sales were down 4.1% YoY in October 2023, per the US Commerce Department.

Lesson learned: MAC worked with Afterpay, not only to attract Gen Z consumers but also to use Afterpay鈥檚 segmenting and targeting options to reach luxury beauty consumers in particular. By the numbers: Gen Z accounts for the fastest-growing generation of BNPL users in the US, with growth projected at over 20% in 2023 and 2024, according to our June 2023 forecast. 5.