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Strategy Briefing

Sustainability: The New Battlefield in Luxury

Mar 2020

US$1,325

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About This Report

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

The last 30 years witnessed more damage to our planet than in the previous five billion years. Environmental threats and the need for sustainability are shaping how luxury companies do business, as well as how consumers show brand loyalty. This briefing will investigate these issues and look at why they are crucial for critical business decisions across the luxury landscape, with case studies of companies and brands that are adapting to such changes in order to succeed and make a difference.

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Overview

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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

Key Findings

Outlook for luxury lies heavily on innovation taking place across the whole landscape

Against a backdrop of macroeconomic uncertainty, tough trading conditions and shifts in consumer values and expectations surrounding sustainability issues, the outlook for luxury remains positive. Its future, however, relies heavily on sustainable innovations taking place across the whole landscape. Breakthrough technologies, new business models and investment funds need to commit to decarbonise companies’ full portfolios.

Sustainability is shaping the corporate luxury goods environment

Environmental threats and the need for sustainability are shaping how luxury companies do business, as well as how consumers show brand loyalty. Sustainability is growing in importance and increasingly being weaved into luxury business strategies, as it represents risk to both luxury brand reputation as well as access to commodities, but similarly offers huge opportunities.

Consumers drive corporate sustainability strategies

Rising incomes, the expanding middle-classes and digital technology are building confidence among consumers, and with this, consumers worldwide are becoming more sophisticated and demanding. Young urban consumers in particular are seeking out new and sustainable luxury products and experiences.

The search for unique experiences aligned with eco-conscious values

Mass tourism, rapid urbanisation and consequent rising pollution levels are increasing luxury consumers’ desire to go back to nature. We are beginning to witness the devastating impact of climate change, and with this, more luxury travellers are veering off the beaten path in search of unique experiences that align with their eco-conscious values.

New opportunities for those that can adapt to change

Luxury businesses will need to adapt to the changes in nature and energy resources in order to capitalise on new opportunities and prevent further potential risks. Corporate SDTs will play a lead role in all critical business decisions across the luxury landscape.

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Introduction

Scope

Key findings

What is sustainability?

As luxury is set to reach USD1.2 trillion, sustainability will be critical

Megatrends

Strategy Briefing

Sustainability: The New Battlefield in Luxury

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Key Findings

Outlook for luxury lies heavily on innovation taking place across the whole landscape

Sustainability is shaping the corporate luxury goods environment

Consumers drive corporate sustainability strategies

The search for unique experiences aligned with eco-conscious values

New opportunities for those that can adapt to change

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

What is sustainability?

As luxury is set to reach USD1.2 trillion, sustainability will be critical

Expectations and the rise of the eco-conscious luxury consumer

A sustainable revolution is taking shape across the luxury industry

Sustainability takes on many forms across the luxury goods space

Global Challenges Facing Luxury

SDGs and global challenges facing the luxury goods landscape

Our planet’s population is reaching 8 billion

What should we expect with 8 billion people?

Implications for luxury businesses

Challenges of climate change and pollution for luxury companies

Challenges of deforestation and biodiversity for luxury companies

Challenges in the use of resources for luxury companies

Challenges in efficient water regulation for luxury companies

Challenges in efficient energy use for luxury companies

Emerging generations lead, but brands still have their work cut-out

Trust is the new currency across the luxury goods landscape

Green labelling plays a crucial role, but trust is diminishing

Corporate Landscape in Sustainability

Sustainability remains a basic principle for luxury corporate strategy

Luxury brand reputation helping to drive sustainability

Luxury CEOs becoming leading activists in sustainability

Disruptive innovation is key for sustainable luxury development

Response from Key Luxury Categories

Sustainability as a critical source of brand inspiration

Premium and luxury cars: Increasing competition in “greener” cars

Environmental regulations impact the outlook for luxury cars

Tesla’s green model remains highly competitive and aspirational

Tesla bucks the trend in the luxury automotive growth story

More women on board in luxury cars for better business and equality

Subscription models highlight the evolution of luxury car sharing

Luxury fashion: Waste sparks new legislation and commitments

Fashion industry has third largest footprint on Earth

Millennials and gen Z are core targets for sustainable luxury fashion

New luxury retail models and services turn old into the new “new”

“Greener” digital solutions, with Louis Vuitton’s “white glove” service

Luxury jewellery: Sustainable Development Goals play a critical role

De Beers introduces its own blockchain platform to help sustainability

Blockchain set to make inroads in the challenges facing luxury?

Stephen Webster repurposes once-loved heirlooms

Luxury travel: Health prognosis highlights the need for eco-tourism

Environmental pressures in luxury travel continue to rise globally

The rise of mindfulness in sustainable luxury travel

Affluent consumers double-down to give back

Nihi Sumba Resort committed to fostering the local community

Six Senses Laamu reaches new depths in marine conservation

Outlook

Outlook

Definitions

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