Daily LInks
1. Asia’s wealthy next-gen seek to earn their spurs on sustainability, UBS says: The next generation of Asia’s wealthiest families are leaning on sustainability to stamp their mark on their businesses and also to grow returns in the post-COVID-19 world, according to senior UBS Group AG executives. – Read More on S&P Global
2. Liquidators Become Shopkeepers to Peddle Pandemic’s Unsold Goods: The Covid-19 crisis, which prompted a wave of retail bankruptcies and nationwide shutdowns, swallowed a whole season’s worth of unsold goods. That has opened the door for Hilco and Gordon to run sales — not for the retailers that usually hire them but under their own nameplate. – Read More on Bloomberg
3. China’s ageing population is an untapped resource for brands: Many retailers can’t seem to work out how to strike a balance between attracting younger millennial and Gen Z shoppers, while designing collections that appeal to older customers, so they bet on youth; designer brands moving towards an increasingly casual and streetwear aesthetic are doing the same thing. – Read More on SCMP
4. RELATED READ: What Does an Impending Increase in Senior Spending Mean for Youth-Obsessed Fashion and Luxury Brands? “As people age their purchasing power increases and they become more concerned with quality, not quantity, of their consumption,” which bodes well for luxury entities, particularly ones that “can tap seniors and their new-found confidence online.” – Read More on TFL
5. Greenwashing is ubiquitous in the fashion industry: A new report by Changing Markets Foundation states that 59% of sustainability claims made by major fashion companies such as H&M, ASOS, and even Patagonia are unsubstantiated or misleading. What’s more, the brands show no clear commitment to reducing their reliance on fossil fuel-based synthetic fibers. – Read More on Retail Detail
6. The Logic of Digital Luxury: Purchasing social clout from the right people, plugged into the right story, will turn whatever goods you make from commodities for consumption into emotional avatars for the owners. If your target audience is price-insensitive, then you should charge their maximum willingness to pay, as well as protect their purchase by pricing out people who are not like them. – Read More on Coin Desk
