TBWAIndia launches its latest report : Bending the Silver Spoon

TBWAIndia’s strategy team have closely tracked and analysed changes in the luxury consumer in their latest report, ‘‘Bending the Silver Spoon’’ The report offers an evolved perspective of luxury through the lens of access, design, communication and sustainability.

The report, co-authored by Shimona Mohan and Bianca Joseph from TBWAIndia, captures how from a sea of gold, black and red is emerging a new language of indulgence that is breaking barriers of limited access and trademarked monotones. The narrative of luxury is being re-written, where sophistication is replacing prestige, democratisation is trumping exclusivity, and status symbols are turning into sustainable statements.

The old notion of luxury required one to be born into it, where the authentic taste of luxury could only be inherited. It was a club for the blue-blooded where a Rolex was passed on more often than earned. But new money is changing the rules of luxury. What once worked behind closed doors is now making its presence felt through bold moves and not by relying on iconic logos.

As old signals of luxury like limited access and privilege, dissolve, scarcity is no longer the paramount marker of luxury. The report aims to inspire luxury marketeers to tailor their brands to the codes of new luxury, so that people identify with them rather than simply identify them.

“Invite-only doors aren’t enough to intrigue people anymore. Mystery needs more substance today. As we start questioning the relevance of royals in a democratic world, ‘luxury’ brands are losing their birth right to sophistication. They must work a lot harder to prove themselves to a spunky generation that is unafraid to experiment and move on. High-end brands need to be a lot more personal, more open and radically fresh to attract niche tribes of culture-movers.”, adds editor of the report, Rahul Megharaj, AVP - Strategic Planning, TBWAIndia.

“The language of old luxury built a singular identity for brands. But new luxury breaks this sea of sameness by digging deeper into mindsets than pockets. This report sheds light on the need to understand luxury through the lens of emerging culture. How some people view luxury today will define how we all view luxury tomorrow.”, says Satish Krishnamurthy, Chief Strategy Officer, TBWAIndia.