Luxury’s Flight to Quality

Hermes. Bulgari. Louis Vuitton. PPR (owner of Gucci and Bottega Veneta). Richemont.  All have recently reported strong profits. Clearly, these firms have benefitted from their growing presence in the booming Asian luxury markets. But something else is going on. I believe this dazzling performance during a worldwide recession is about more than their global footprint. All … Continue reading Luxury’s Flight to Quality

Surgical Shopping and the Hangover Market

Last holiday season I coined the term "surgical shopping" to describe the highly precise way many consumers were purchasing.  While the panic of late 2008 and early 2009 subsided, consumers were only gradually opening their wallets, focusing primarily on needs vs. wants and often trading down to brands that gave very clear bang for the … Continue reading Surgical Shopping and the Hangover Market