Where trends come from (3): the luxury market

Many trends and new products make their way down from the upscale and luxury markets. For instance, technology like satnavs and mobile phones started off in the car’s of the very rich. At the time they seemed absurd and were mocked in popular culture. At the start of the popular 1980s movie 48 Hours young kids take great pleasure in setting off the car alarms of a row of parked Ferraris and Lamborghinis in Beverley Hills by slapping the back of them with newspapers as they cycled along.  But, in time, car alarms were to hit the mainstream both through affordability and appeal. Can you imagine buying a new car now and it not having a car alarm?

Can you imagine buying a new car now and it not having a car alarm?

Consumers want customisation

The desire for Mass Customisation made its way out of luxury. For many years, all hotel rooms from the same brand across  the world looked the same, every McDonald's restaurant looked the same, every Apple store looked identical. This was the very core and strength of franchised brands. The Gap even made an ad in the 1990s that told everyone to be in khakis or tee-shirts and people  bought the same look. But consumers started to demand individuality and different products. This emerged in luxury where luxury car brands started giving customers the opportunity to individualise their car as it rolled through the factory.  The American luxury boutique hotel brand, Kimpton Hotels, started tweaking guest bedrooms with personalised photos and guests’ favourite soaps and shampoo brands.

The trend for Mass Customisation then made its way down from luxury into the mainstream. Apple charged customers to engrave their names on their iPhones and iPads. Coke put names on to bottles and cans  then allowed customers to order their own direct selling their product direct  to delighted customers for the first time in their history.

As I write, it might seem crazy that ordinary people could afford a spacious flight with a flat-bed on a jet or even a trip into space. These currently cost thousands (or hundreds of thousands) of dollars. But when sat navs, carphones and car alarms first launched they seemed just as out of reach to the ordinary consumer. It wasn’t clear to us why we needed them but that didn’t matter as they were out of our financial reach anyway.

If you’d like to discuss trends coming down from luxury in your industry and whether they are ready to hit the mainstream, then please make contact.