Luxury fashion marketing during the recession : a case study approach

Abstract

The face of the luxury fashion industry has certainly changed through the current period of the recession. The luxury fashion consumer has certainly evolved after undergoing the effects of the recession. Consumer values have changed and consumers have adopted a more value-seeking approach in shopping for luxury fashion. This sparked off new trends in the industry that include collaboration with fast fashion retailers (which seemed to thrive during the recession), the utilization of online social media and the developments in online distribution networks. The emergence of the growing Asian market has also drawn the attention of luxury fashion companies due to their recession-proof status. This paper seeks to uncover these trends through the use of case studies and identify opportunities where luxury fashion companies can go into to become more resilient during the recession.