In a period of only one year, we have seen a very significant change in our consumption and purchasing habits.

 

The difficult year of 2020 has pushed us to consume products to take care of ourselves. We have begun to prioritize our comfort and well-being.  

These habits will continue to grow in 2021. Luxury is no longer about price or extravagance as it once was, it is more about relevance, focused on self-transformation and wellness. Right now, consumers are looking for a balance between luxury and wellness. Brands are becoming aware of this demand and are changing their designs and strategies accordingly. 

 

Many famous luxury department stores, such as Harrods and Saks Fifth Avenue, are opening fitness studios and wellness centers. This is redefining the "luxury shopping" experience for many because it is no longer just about going to buy clothes, but also about having an experience along with it. An experience focused on our well-being. 

 

In recent years, we have started to see some of the biggest luxury brands collaborating with more streetwear and sportswear brands. Again, due to the growing demand for comfort. Here are some examples of partnerships from previous years:

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During the pandemic, our everyday clothes were replaced with sweatpants and yoga pants. Being homebound was turned into a benefit by many, we began to spend more time on ourselves and our well being. Online sports programs, yoga classes, bath time and skin care have seen a surge. The women's fashion editor at Farfetch commented on this saying, "Wellness and self-care have suddenly become a priority more than ever."

 

In 2021, we will continue to see the rise of luxury wellness brands. According to Euromonitor, the global health and wellness market is expected to reach approximately 830 billion francs in 2021. One of the driving forces behind this growth are Millennials. This generation is deeply invested in self-care and are willing to pay premiums for items such as organic food and beverages, fitness classes and high-end sportswear as they strive to be the best version of themselves.

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References : 

 

https://www.voguebusiness.com/consumers/comfort-and-wellness-set-to-define-luxury-in-2021

 

https://www.luxurysociety.com/en/articles/2017/06/wellness-changing-face-luxury

 

Picture references :

 

https://www.independent.co.uk/life-style/fashion/gucci-north-face-collection-photos-b1777558.html

 

https://footwearnews.com/2019/focus/collaborations/jordan-1-dior-collab-twitter-reviews-1202884243/

 

https://www.vogue.com/article/prada-for-adidas-collaboration-superstar-bowling-bag

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