It seems like a lot of pundits are publishing lessons for brands from the pandemic this month. Seems a bit early given that we’re still in the midst of it, but here are a few that I learned today from an Adweek article that focused on changes to luxury purchases.
1. Blogs are back! Many brands are feeling that advertising seems to be tone deaf, and that blogs can be more authentic. Blogs can be one way to provide content that makes people feel better and informs and inspires them.
2. Perceptions of luxury have changed. People have traditionally bought luxury goods as a way to communicate their status to others. In a pandemic, that signaling stopped, and luxury good sales decreased. Now that people are thinking about purchasing luxury again, they seem to be appreciating lower price points. Maybe the ‘break’ from buying a lot of stuff has re-set our minds about the appropriate prices for things?
3. Consumers have become accustomed to ‘waiting’ for products given shortages earlier in the pandemic and with shipping time lags. The value of ‘overnight delivery’ from Amazon and other companies may be diminished.