Science is the key to unlocking many truths in marketing. Fashion is a billion dollar industry that caters to all sorts of demographics. People use retail as an outlet to satisfy needs within them for various reasons: leisure, sociability, entrepreneurship, and even stress relief. Yes, ‘retail therapy’ is real, and could be attributed to neuromarketing
Bain & Company’s Luxury Goods Worldwide Market Study outlines the pandemic’s drastic impact on the industry and points to a path to recovery.
So, what does the future hold for the high-end market?