According to a new report from Kearney, luxury brands are adapting to slower growth by focusing on pricing, operational efficiency, and consumer engagement. Boomers and Gen X, who hold significant wealth, remain key customers, while millennials and Gen Z prioritize experiences over material goods. Brands are balancing exclusivity and accessibility, refining value propositions, and enhancing retail experiences with digital innovations. Rising costs and regulatory challenges push brands to optimize supply chains and adopt sustainable materials. Long-term success hinges on brand equity and omnichannel strategies. #luxuryliving #luxury #boomers #genx #millennials #genz #retail #pricing #supplychains #brandequity #omnichannel #kearney #luxurydaily https://lnkd.in/e7WAmvAb
