Marketing luxury brands in a cost-of-living crunch

Lucy Halley

With the cost-of-living crisis accelerating a shift in luxury values, luxury brands must adapt to maintain relevancy and appropriateness.

The current cost-of-living crisis is widely reported; the drivers well understood. And the real, human impact is already being felt. With the poorest tenth of households spending twice as much of their budget on food and fuel than the richest, they will be hardest hit. Analysis by the New Economics Foundation suggests that by this month, almost half of children will be living in households that are unable to meet the cost of some basic necessities – having to cut back on food and / or heating. Never has the gap between rich and poor been so pronounced.

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