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The future of luxury brands in an on-demand world [#digital #luxury #technology #socialmedia #exclusivity #challenges #culture #customization #click-to-buy]

The future of luxury brands in an on-demand world

 By Tracey Follows, 2016-10-10+, Campaignlive.co.uk

Can luxury brands both embrace the sharing economy and remain aspirational? It's an existential question they now need to answer.

Luxury brands are prefaced on the idea of scarcity – what is scarce is of most value, and what is difficult to acquire or to access confers status. But in a world of abundance, in which nearly everything is accessible and nothing is scarce, what are the symbols and codes that communicate that something is a luxury?

> Which role does digitalization, technology and social media play?
> Which degree of exclusivity is right and how do the cultural differences create a need for customization?

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