EDITED™, a leading AI-driven merchandising experience platform, has partnered with global consultancy Bain & Company to produce a market-leading insights report and infographic on the luxury sector. The research, titled “Three Reasons Luxury Should Remain Resilient”, outlines how luxury retailers can maintain momentum through strategic action during economic uncertainty.
The luxury sector faced major shifts over recent years from rapid inflation to slowing economic growth, continued COVID lockdowns in China, and the outbreak of war in Ukraine in 2022.
Despite these headwinds, sales have never been stronger in the luxury market. Key findings from the Bain & Company 2022 research driven by EDITED’s insights show:
- Overall price distribution in the luxury market has expanded due to assortments tilting toward more luxury items since pre-pandemic times
- Brands have reduced visible discounts with a 5% drop, on average, across both men’s and women’s ready-to-wear and accessory lineups
- Luxury brand leaders’ assortments were able to intercept fast-growing categories since the pandemic, compared to normal brands. According to the research, which indexes assortment levels at 100 before the pandemic, the size of assortments in the luxury leisurewear market have grown to 200; regular brands have risen to only 130
EDITED welcomed two of the authors, Federica Levato, partner at Bain & Company and a leader of the firm’s Luxury Goods and Fashion practice, and Carlo Moltrasio, an associate partner at Bain & Company, on to their award-winning podcast to discuss the findings, and to delve more deeply into the ways luxury retailers can continue to use data to drive consistent growth during turbulent times.
EDITED’s Inside Retail podcast will return for a new season in Autumn 2023, featuring exciting guests from the world’s top retailers and industry game-changers. To find more episodes, including conversations with Depop and Puma, go to their podcast page.
EDITED and their extensive analyst team has previously worked with other industry partners, including with Business of Fashion for “The New Era of Designer Bags”, showcasing the depth of their data pools and knowledge base.
EDITED is the world’s leading AI-driven merchandising experience platform that empowers brands and retailers with real-time decision-making power to drive profits and inspire customers. We help retailers increase margins, generate more sales, and drive better outcomes through AI-driven Market and Enterprise Intelligence to fuel Automation. The world's most successful brands and retailers are using EDITED's platform to get closer to their best customers and future-proof their business. For more information, visit www.edited.com.
About Bain & Company
Bain & Company is a global consultancy that helps the world’s most ambitious change makers define the future.
Across 65 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today’s urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a platinum rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 1% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry.