LONDON — Possessing a strong sense of identity — rather than flashing a brand name, logo or pattern — has become a priority among luxury consumers, according to a new, and unconventional, report that opted not to ask consumers the usual quantitative questions about their spending habits.
Instead, The Wednesday Report, which will be released today by the eponymous creative agency, looks more at luxury consumers’ hearts and souls, and how emotions and a sense of self are impacting consumption today.
The report, which was compiled in May, points to a shift in shopping patterns, with consumers prioritizing “Who I am” over “What I have,” and choosing brands to showcase their values.
Tammy Smulders, president at Wednesday who put together the report, asked 2,250 international luxury consumers questions such as, “What is the best compliment you can receive?” The most popular answer was “unique,” the second was “tastemaker” and the third, “caring.”
In an interview Smulders, a former president at Vice Media and global managing director at LuxHub, said she and the agency Wednesday wanted to look at the new macro-influences on consumption, get under the skin of a variety of luxury consumers, and figure out how people’s priorities were evolving. Their sample was an
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