That's a very good point that I regret none of the major luxury brands take into consideration. I understand you want to capitalize on certain purchasing behaviors from new money customers who equate very high price point with quality, but by doing so you ostracise a portion of your clientele who has embraced your brand identity and is a conscious customer. I started buying luxury fashion in my high school years (very late 00s) and prices were nowhere near what they are today. I recalled in another thread finding the receipt of a leather/linen cabas from Celine FW11 that cost 620 EUR. I let you reflect on what you have nowadays at that same brand for that same price... But back to my point, I always had a good relationship with SAs who were actually excited to have someone who had seen the show, knew the collection etc. I didn't spend anywhere near what some who would step in and drop 20k in one shot, but that didn't diminish the service I got and I always found that really special. If I didn't work in the industry and didn't have access to the benefits that we have, there is no way I would spend that amount of money on something I'm going to wear for a couple of seasons. Because it's not just a matter of can we, it's a matter of do we want to? You can jump through hoops and I'll never believe a pair of wool trousers should cost 2.3K EUR. 1 because of common sense, and 2 because I know damn well how much it cost to produce.
I’m exactly in the same position…
I think it’s very frustrating. As a customer, I try to be rational and strategic on the way I’m spending. If I like a collection, I want a piece that is capturing the spirit of a collection. So when I’m looking at some strategies, I’m really puzzled because after all, the goal is to sell those pieces at full retail prices.
‘While the economy is rocky, there’s a lot of new money, there’s the influence of social media (where people display lavish lifestyles) and buying expensive pieces is part of the whole thing. Brands knows that and it has become a ridiculous race.
When you see a brand like Burberry, you know about their network of outlets and also about the fact that probably a good portion of those outlets are filled with specially designed products and Riccardo’s era’s stuff on top of the fact that the brand’s perception is not at that rate, something is wrong.
You said it perfectly, it’s not a question of can or not but the question of wanting or not for some customers. Unfortunately can or not is more and more encouraged.
Let’s be honest, only a person who loves the work of Daniel Lee would want to buy a feathers embroidered dress. There’s no status attached to buying Burberry (even if a Trench coat can be a status symbol).
SAs always loves the customers who are into fashion, who knows about the collections, the references the cut and all…And the irony is that we are generally the ones who spend less.
I have been a Chanel customer since 2004. I think it’s the brand that I have the longest ongoing relation with. Between 2004 to 2019 I bought at least one piece from the runway whether is accessories and RTW. Yes the work of Karl was a valuable justification for it but I always felt like it was worth it. Since then tbh, between the price increases (people talk about bags but it’s insane in RTW), the quality issues I’m not interested. Today buying anything Chanel today for me has more to do with maintaining some type of purchase history with the brand and enjoying the retouching services provided when I want to alter a vintage piece I acquired.
It’s getting ridiculous and I wonder (I said it before here) when this bubble is going to explode. A t-shirt shouldn’t cost 5 dollars but it shouldn’t cost 4000 euros either!
