Washington Post – The definition of luxury retail is being ‘shattered’
As recently as 10 years ago, the profile of a luxury shopper was fairly clear-cut: It was the kind of man or woman who owned a lavish penthouse condo, had a fat investment portfolio and freely threw down cash on pricey Chanel handbags or Louis Vuitton luggage.
But today, industry experts say, luxury shoppers are a much more diverse group with wide-ranging tastes and a unique set of values, a transformation that is pressuring high-end retailers to recast their brands.
