Daily LInks
1. How Gen Z and millennials are shaping the future of US retail: “They’re looking beyond tangible products and actually trying to understand what is it that makes the company tick. What’s its mission? What’s its purpose? And what is it actually trying to build for us as a society?” – Read More on McKinsey
2. Luxury brands bank on a raring China market as pandemic lays waste to global demand: Driven by well-heeled consumers forsaking their usual overseas trips to places like Milan and Paris as well as pent-up demand that built during lockdown, spending in China on luxury goods has surged. – Read More on Reuters
3. Luxury and Prestige Are Not the Same: Prestige is about the image of the owner; it is bestowed; it is given; it is leveraged. Luxury is about the product or service. A high quality, high priced product may be a luxury. A high status product may be prestigious to own. A luxury brand is not necessarily a prestigious brand. However, a brand can have the elements of both. – Read More on Forbes
4. Store Landlords Face a Battle for a Cut of Online Sales: To offset some of the new risks, landlords are looking at whether they can include a portion of a retailer’s digital sales in the pot of revenue that is used to calculate the rent. Retailers will be understandably reluctant to hand over a cut. But there is some evidence that physical stores drive digital purchases. – Read More on the WSJ
5. Jonathan Anderson: “Lockdown forced us to break an entire cycle that we were getting a bit lost in.” – Read More on the Telegraph
6. Height of fashion? Clothes mountains build up as recycling breaks down: Since the COVID-19 pandemic began early this year, textile recyclers and exporters have had to cut their prices to shift stock as lockdown measures restrict movement and business slows in end markets abroad. For many, it’s no longer commercially viable and they can’t afford to move merchandise. – Read More on Reuters
