By Alexia Perez for 90 Suits Paris
The luxury customer base has grown
The term democratization literally translates into making what was not accessible to all.
In recent years, the luxury customer base has grown from 90 million in 2019 to more than 390 million today. This increase reflects the democratization of luxury.
The old luxury was originally set aside for an elite such as royalty, the bourgeoisie and leaders. But modern luxury appears in the 80s and is marked by ostentation. It meets the need to belong and recognition in the sight of others. It is characterized as contemporary after the international crisis in 2008, marked by the rise of the Web, accessories, cosmetics and the rental of luxury items.
The main actors of the luxury democratization
The main actors of the luxury democratization are the millennials, a generation born between 1980 and 2000. Also called “digital natives”, they are addicted to the Web, social medias & blogs. They truly influence the prestigious fashion houses who adapt their strategies in order to seduce them.
The luxury brands adapt
The new generations really have influenced the luxury brands which today offer streetwear products such as sweaters, down jackets, sneakers, caps & more, phenomenon unthinkable a few years ago.
Jacquemus is the perfect example illustrating this will of couture houses to make luxury more approachable. The French designer offers his famous pieces of leather goods and ready to wear for hundreds of euros comparing to conventional luxury brands which offer their pieces for no less than thousands of euros.
Tips before buying your first luxury piece
The democratization of luxury has many advantages, including conquering a larger market with a lower budget. Some products such as belts, purses & wallets stand out for their great quality-price ratio. For a long time, quantity was favored over quality but purchasing behaviors have evolved : less but better.
Nevertheless although luxury is synonymous of quality, it does not apply to all items & brands. While purchasing a first luxury piece, it is important to take into account certain criteria such as the material, color, shape & size.
Indeed, let’s take the example of smooth leather : it is a first choice leather with a certain elegance thanks to its shiny leather and its soft touch. However smooth leather can be fragile to stains, rubbing & external abrasion. Although smooth leather pieces are very attractive, a caviar leather item would be ideal for a first optimal life time purchase.
When it comes to choose the color, white & pastel colors are so trendy this year. Those bright & light colors easily pair with many stylings & shades. Unfortunately they can rashly be dirty including by denim clothes or daily dirt. Also, leathers are tanned in order to be protected, but the process remains superficial which explains the fragility of tanned luxury items.
Why you should go for luxury
Consuming luxury now appears as an interesting alternative for people who wish to consume CSR meaning Corporate Social Responsibility. Indeed, isn’t it more responsible to own a luxury item which life cycle is way longer than a Fast Fashion item? Consuming less & better also means favoring more exclusive pieces that will bring an additional touch of elegance, originality and research to your outfit. Finally, it means choosing brands that most often produce more locally, more ecologically and more ethically.
Purchasing luxury is not only a question of appearance. Each item, its manufacture & design have a story that represents you & makes you unique as an individual, unlike Fast Fashion. It is about living an experience of acquiring an exceptional piece that you can then pass on, for example, to your children & grandchildren.
Consume better, it’s up to you.