They want to feel part of their identity creation. Wikipedia, Retail markets and shops have a very ancient history, dating back to antiquity. The fashion market can be deciphered into 7 separate market levels; Haute Couture, Luxury Fashion, Bridge Brands, Diffusion Lines, High Street, Fast Fashion and Economy. Color and order. Every brand tries to look trendy, omnichannel, sustainable… Even Primark says it´s sustainable… A Millennial is highly social being, but still part of a micro-tribe or tribes. We are living in a ephemeral and liquid society (Modern Liquidity, Z. Bauman), spending one second per picture on instagram and touching our smartphones 2,617 time every day (Dscout Research). But brands also gain brand awareness and reputation because some of these stores are “museum flagships”, historical buildings integrated to the retail shopping line. Millennials and the following generations are getting “lost in translations” and they want something real, solid. Last year, more than 1,875 fashion retailers shut down. Maybe, but new generations are victims of technology/media consumption and the avalanche of information. Retailers satisfy demand identified through a supply chain. Wikipedia. Patterns and attributes. An artist that understood fashion and retail. And the luxury fashion segment especially, has been the center of attraction in these last few years. He used the main power of Armani brand to create different luxury experiences far from apparel (i.e. Brands that concentrate their marketing efforts in a specific customer segments will have better probabilities to survive and retain loyal customers. A clear effect on retail is the decrease of expansion as we got used to . Flowers, Chocolates, hotels), applying a segmentation and diversification strategy. And while the extremely wealthy still represent an important segment of luxury consumers, they are no longer the only audience in town. What convinces someone to splurge on a $50,000 hotel room? Just 20% of luxury products currently selling online are priced under $200. Luxury access according to this driver of luxury consumption is linked to share economies, where – to some extent – luxury is made more accessible as it becomes democratised. Change ), You are commenting using your Google account. 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Global cities are concentrating their fashion, apparel and luxury goods offer in a few streets. Just a mere decade ago, the premium market was dominated by baby boomers and Gen X – those born after the World War through to 1980. After his Fashion Show, on February 2017, Armani revealed his decision to cease the Armani Collezioni and Armani Jeans brands and use only the Giorgio Armani, Emporio Armani and A|X Armani Exchange names. Segment polarization has been a hot topic in recent discussions among apparel experts. Segmentation is used mainly to target a certain group from within a population ) are looking for stories... Will boost innovation globalization, and just a few filters helping to choose the right.. Polarization has been the center of attraction in these recent technological advances is the trend of megaflagships! Shopping escapades welcome your components of luxury fashion segmentation apparel and luxury goods, apparel and goods. 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