What's Next, Now: October 2023
This month, our crystal ball predicts heightened exclusivity, a new era of SEO, a difficult holiday shopping season, and more.
As our society increasingly places a premium on inclusivity, the opposite is happening from a purchasing perspective. While traditional luxury brands have always been an exclusive market for the few — à la the Hermès Birkin bag that’s more of a status symbol than an accessory — this business model is beginning to expand to a range of industries.
In Miami, a growing market within real estate is booming — branded luxury condos. From Porsche Design Tower to Bentley Residences, the automakers are cashing in on the grandeur of their name. Even the dating app Tinder has launched a subscription service to be matched with the 1%. The only catch is you’ll need to shell out $500 a month to be part of the club.
This model is also taking its way into the sky, as Delta airlines recently tightened restrictions for frequent-flyer customers, limiting airport club access. However, consumers felt this was taken too far and Delta's CEO reassured them modifications are in the works.
Although it may seem like consumers are looking for brands to even the playing field, their spending habits tell a different story. While not every brand needs to implement an egregiously costly subscription service, components of exclusivity have shown impactful across the consumer landscape.