“Thou shalt not flaunt it”
There is a recent phenomenon, somewhat paradoxical, that begins to gain momentum in the luxury market. It is called Secret Shopping. This trend invites premium and luxury brand executives to think about and eventually adapt to some good practices. Quo vadis, Luxus?
Sometime ago, I have read an interesting article about this phenomenon written by my good friend Susana Costa e Silva, PhD, university professor and marketing researcher, arguing that the economic crisis is driving luxury consumers to be more socially responsible and more discreet in the form of purchase and consumption. The article also quoted Milton Pedraza, President of the Luxury Institute – whom I met in New York City to discuss ideas: “It is distasteful today, to adopt exuberant and flamboyant behaviours when buying luxury products and services“.
A friend of mine who lives in Spain and works as store manager for a very well known French luxury brand, recently told me over dinner that, in recent times the purchase by phone and internet of leather bags and purses has increased, because such customers still wish to enjoy their favorite luxury items, but do not want to be seen in the store buying in these times of recession.
An article published in the Universia Knowledge newsletter of Wharton Business School cites Roxanne Paschall, senior merchandising director of the Italian luxury brand Bottega Veneta: “It’s a little bit gauche to be ostentatious with … please read more