To me its the fact that they treat their customers in an awful manner and still have the cheek to expect them to still buy their products after the alleged quality decline and major price increases.
and even if they get treated bad they will still purchase from that brand. Some girls was ranting online how the employees at Miu Miu treated her bad and she ended up buying the shoes… who’s fault and problem is that? This is a two way street.
@ thats on them, i would (or in some instances i literally have done it) tell the SA to fly kites if they were ever rude to me…. I will not part with my money to give to someone rude
If I want to drop 2-3k, I want to feel like a queen. Fake nice to me, do whatever it takes to make the experience worth while. Making ppl feel like a peasant isn't going to work, sure they might drop money on first purchase, but they won't be returning.
I was a crazy bag lady for many years...until recently. Luxury just isn't that special anymore. I recently found myself purchasing super cute bags from Anthropologie, etc. I may never go back to spending $5-10k on luxury bags and I don't think I'm alone.
I feel like as the prices increase, the quality decreases aswell. I find myself collecting vintage pieces now for the price of Coach and I don't think I'll ever go back 😅
I’m a small leather artisan and in this past year especially I’ve had a lot of my clients tell me they just feel disrespected by the constant price increase while the quality seems to be dropping. They turn to small/local brands who can give them a great experience and price. I’m certainly not complaining! Big brands being silly with prices has helped me a lot! I’ll take a measly cut of their market share
Yup this is what I do. I support a local leather handbag shop in my area where everything is handmade on the premises, it's affordable, the quality is outstanding and the company powered by women
The mistake that the luxury brands make is that they forget that the aspirational customer today could be the high net worth individual tomorrow. Many people start with a bag or a hot item and then slowly start buying more. It’s a Neverfull one year, but in 10 years they could be buying ready-to-wear, jewelry, etc. The bag or the hot part of shoes is the gateway item. And the brands seem to have forgotten that fact. But, contemporary brands like mulberry have also gotten beyond themselves.
@@jennifermcgee8621but their New CEO seems to be waking up and hit the brand with a Common Sense stick. Hot Designer doesn’t equate to following trends and a price change 👀😳🤦♀️
Before the prices were high but manageable. You could save up and feel like you got something really special and high quality and worth the price you paid. Now everything has gone so high if you buy something, you just feel stupid. 13000 CAD for a chanel flap bag with shoddy quality . It just doesn't make sense anymore.
Yep the prices have gone so high that I honestly feel like that money could go into something actually useful and valuable. When you start comparing a bag to a new car or a holiday, that’s where you’ve lost me
This is So true! I went to buy my first designer bag this year and realized the price difference and immediately turned my little butt around and left the store. Instead I look for well made authentic leather bags that are more unique and classy that would make you WONDER what brand it is by looks very fashionable and classic.
I think you summed it up perfectly. I used to work for a Luxury retailer, who brand motto, was get the aspirational customers in, and build long lasting relationships as their net-worth grows. However when new players enter the market they they choose to abandon those buyers, and focus on high networth customers. Who expect way more for their money. If it wasnt for new players failing they would have completely lost market share. NOW they are return back to catering to aspirational buyers. It's cost companies less to hold on existing relationships and built on goodwill, then to constantly attract new customers!
what does it mean concretely to focus on high networth clients? I mean what is the difference with regards to the aspirational buyer, how is that seen in practice?
@@HeidiBartol In practice that looks like no longer carrying contemporary lines, mid-term/ diffuse lines. No longer carrying merchandise under the $2000 mark. Carrying more 1 of kinds, one-off exclusives pieces that hard to get your hands on. Creating an store atmosphere that feel initiating or no longer welcoming to window shoppers. Nordstorm would be an example of catering to the aspirational buyer, and the high net worth buyer at the same time, versus lets says Saks or Bergdorf.
@@HeidiBartol In addition to Queenb's points, consider how the aspirational customer is treated: every purchase with Tiffany or purchases made on my behalf by appointment, I was invited into the store until about 2019, for a try-on in a small private room and celebrate the selection with champagne or sparkling cider for pre-21, by a dedicated SA who was warm friendly and treated even a new plain gold charm with equal respect and courtesy as afforded a new diamond necklace. Nice box and ribbon, pouch and bagged for a home unwrapping, often a teensy box of chocolates slipped into the bag( although I suspect that was just my SA being kind) Add email invites to come to the store for fragrance samples or even a full-size new fragrance product or cup or stationery offered to "loyal" aspirationals, who might spend just $5,000-$50,000 a year broken into small purchases all year long, but that's every year. Thank you cards for the purchases mailed to the house, a Happy Birthday or Happy Thanksgiving email, aren't a big outlay but all remind the aspirational customer of their happy in-store experience, and when they return to the store they may bring friends who also buy.
The issue I have with the pricing in general is that the quality doesn't justify the price tag, even a little bit. I really hope the brands inclined to drop more "affordable" merchandise for aspirational clients (instead of decreasing prices in general) won't sacrifice the quality of those collections even further. I'm worried they'll further compromise on quality to release "cheaper" collections to trick aspirational buyers to spend their money. Also happy to see some brands backtracking cause some of them really tried too hard chasing "top tier pricing".
Luxury has gone out the door! My luxury purchases are from YSL and Celine. I can't fathom a Chanel purchase...in the end, we're all just paying for the name!!!
I have always been an LV customer but looking at the quality coming today and the fact they keep raising prices is nuts. I have four LV bags ALL pre 2000. They are wearing like iron and quality is amazing. I have LV slgs and they just don’t quit. But paying what they want today for awful workmanship I have gone to Furla and others to get new bags and slgs.
You’re definitely correct about vintage! I got a mulberry bag for 40$ the other day… they need to recognize that we can get the quality at a MUCH cheaper price 😭
The price of a luxury bag jumped from $2,000 to $4,000 overnight... for a BASIC bag (Prada and Burberry: I am looking at you). Not sorry. I'm out (and I wasn't alone, obviously).
Yep, agree totally! They got greedy and increased prices astronomically in a bid to look exclusive and price out the aspirational buyers. In Australia, when the YSL was at the peak of its popularity, the small loulou went from $3400 up to $4200 overnight. Result was poor sales and customers turning elsewhere. The damage has been done.
Same for Gucci! I bought my Dionysus a couple of years ago for $ 2250 and now its $ 3200. A mini Diana was on my radar for $ 2500 but now they’re anywhere from $ 3500-4500. I’m not paying that price for Gucci & switched to other brands. Now they’re suffering financially.
Thank you for this video. I had a horrible experience with Cettire. My first experience purchasing a pair of hooded Attico combat boots was seamless, so I got excited thinking that I hit a lick discovering Cettire. However, my 2nd experience was where it all went down hill. I ordered a beautiful pair of Dries Van Noten shoes. When they arrived, they didn’t fit, so I couldn’t exchange them, so I sent them back and asked for a refund. It took Cettire over a month to respond and when they did, they tried to lie and say I damaged the shoe and refused to refund my money. I couldn’t!; even put the shoes on, so there was no way that I could have damaged the shoes. Cettire kept trying to send the shoes back to me anyway, but I refused acceptance and disputed payment with my bank. Never have I ever had an experience like that with a luxury retailer. Buyers beware.
I got an extra 10% off code DURING the Versace sale this year AND almost everything was 50% off whereas in the past few years I felt only a few items were down to 50% and 20-30% was much more common, so I definitely agree that these brands are realizing that people just aren't willing to pay these foolish prices for very basic items
@@TomikaKelly they have a sale going on in the US right now! I can’t remember for other countries (I feel like its earlier than US) but the US usually goes on sale around Thanksgiving (Black Friday) but goes on for a few months like now and they also usually have a summer sale as well (to be clear, the winter sale sells previous season summer clothes and the summer sale sells last season winter clothes lol)
I used to be one of those willing to spend. Especially during the pandemic. Then I realized they really took advantage of our spending power by increasing their prices left and right so I stopped! No more! I actually don’t bother with these luxury brands anymore. Thank goodness for that since I feel so much better not craving for adding another bag in my collection. I finally reached that moment in my life where all the talk of the town with regard to what’s new in fashion especially bags are nothing but noise instead of music to my ears. I do however still love to listen to your fashion news. It keeps me entertained especially if it’s all about the “downfalls” of luxury market 😂
I also think people are far more aware of the cost to actually make these luxury bags and then enormous mark up in price. Then you can get just as good, if not better quality leather bags from smaller retailers/makers.
Exactly. All the customers who basically used "quality" to justify their luxury purchases have had to go elsewhere because that's not a solid argument for most super brands now. We are in an age where more information is available than ever before and they for some reason, don't account for customers being savvy.
All the items are being made in China and shipped to Italy for the made in Italy tag OR they’re importing Chinese workers to Italy working Chinese wages. Either way the customer is being scammed
@adriennethiery5432 I agree with both of your statements, but paired together, it sounds like the conclusion is if it's made in China or by a Chinese person, it's therefore not worthy. If that wasn't your intent, it could help to be a bit more mindful of how you arrange your thoughts. It sounds judgmental, to say the least.
Idk why ppl hate on Saint Laurent. I collect bags and I probably have the most YSL bags bc they’re truly my favorite bags and I love the quality of them. When I first bought a Chanel Flap bag I was so confused bc I thought it was supposed to be quality, but it felt cheap next to my Saint Laurent Sunset. There’s weight to their products that quality items SHOULD have. For example the chains on Chanel bags feel like they’re made of plastic from how light they are, but on a YSL bag it feels like a real metal chain. Which I prefer. It feels more lux to me.
I’ll take YSL over Chanel any day. And YSL feels luxurious. People who buy those classic flaps are in such denial, they DO NOT feel luxurious to the touch lol. They have just been groomed to believe Chanel is better.
I actually always loved the look of ysl I finally bought the ysl envelope bag and front part has already peeled off their is also a little peel that happened on the corner all within a couple months, was not expecting that from a luxury brand 😢
Agree 👍 my chanel bags collecting dusts feel like granny everytime i wear them ,, on contrary with ysl and bottega feel like quality edgy feminism simplicity etc..
I use to be a huge Mulberry fan but have been put off by the prices in recent years, decided to give Demellier a go à couple of months ago and will never look back! The price vs. quality is what Mulberry used to feel like to me 10-15 years ago
Thank you for such great insight into this topic. I have definelty pulled back on my luxury spending due to the price increases and decrease in appeal. I have shifted my funds to vintage and pre-loved because the price is better, quality is better, and I get to participate in sustainable luxury. Shoutout to customers for recognizing the power of their dollar and pulling back on the reins with these ridiculous price increases. You, the customer, are the signle most essential component to this industry. 😊
Excellent content Cassie. I’m one of those costumers who had gone to the pre-loved market and contemporary brands since the pandemic. The last time I paid full price for a designer bag was during lockdown in May 2020. I ordered a bag directly from Gucci. Since then it has been pre-loved luxury.
Ciao from Italy where yesterday I visited the amazing Ferragamo museum in FIrenze- I thought of you! Also- more Ferragamo please! And yes to Maximillian Davis.
Great video, and so many reasons why this is happening. Poor quality, generic designs, aggressive pricing, and also the unwanted side effect of increased theft. I no longer feel comfortable wearing my expensive bags due to the prices. I don't want to be a target. It is difficult to keep spending when you can't even feel like enjoying the bag anymore.
Great point about the outlets getting merchandise when there is a change in creative directors. Those Bottega outlets are going to get some great merchandise at the end of 2025. Mark your calendars.
Happy Wednesday Cass Cass!!! Price increasing and quality decline…luxury brands need to do better, when it comes down to the quality of their products.
Love the common sense economics with Professor Cassie. Such a great explanation of basic societal shifts around a global issue with something like a pandemic. Haven’t heard too much about Mulberry. Love seeing this mentioned. Such brilliant analysis of this topic. Eventually aspirational customers can become those 1% customers long term.
I just want to say your videos help brighten my lunch breaks 😊. It’s also totally true, aspirational customers are the ones brands need to aim for with great products, high quality, decent pricing and great customer service. When your first starting out you want brands to draw you in and keep you coming back and in time those customers become consistent income for brands and some turn into the high net worth individuals anyway. If brands don’t take that approach, they risk turning away aspirational customers which longer term means they miss out on consistent customers and potentially those future high net worth customers
Great video! You make such great points. I purchased an LV bag in Paris a couple months ago and regretted the second I purchased it. The service was disgustingly awful.
For me, it’s the lack of service. It’s so transactional, I feel I get treated better going to target sometimes.. especially the big houses like LV, Gucci etc. I had an SA at Gucci I was chatting to, so lovely. The second she found out I purchased from Fendi, she ignored me and wanted nothing to do with me… like ok then, you won’t get any future sales.. I will say I have found one brand to be amazing and that’s Fendi. At this point Fendi & Hermes are probably the only two getting my money in the future and that’s based on quality, and treatment.
Oh, I absolutely loved this video. I've been thinking about these things for a long time, as I am that specific aspirational customer. I could buy nice stuff every month with 2019 prices, it's clearly not the case anymore. A lot of the stuff I already own, I couldn't justify buying at the current prices. They need to come back down to Earth.
Amazing video Cassie!!! You didn’t mention Gucci but their price increases have felt unjustified to me lately, I am a Gucci girly but I can’t justify some of the prices, same with Prada and MiuMiu, I understand that they have been the belles des jour but you can’t ask me to shell out $5000 or more for a belted bag when I could get a leather tote/work bag for $1100 just a couple of years ago, and a sale at the outlets! There is also the matter of quality and sweatshops, I don’t think I would ever buy another Dior bag, because of the recent reports, and we’ve all been screaming about Chanel’s quality issues. I have turned to Hermes, both new and preloved and just limited the number of purchases over the past year. It’s not as much fun, but I know I am getting bags that I will literally pass down to my son in the future. He already wants my Kelly and he’s only 9 😂 Also; I died when you said Billy Big Bollocks and we could see Geli popping in the shot just a bit 🩶🩶🩶
I work in french luxury leather goods production and yes recruitment has dropped this year, It happens that there is a drop in activity, it is a bit in phases. :)
The leather of the soft Coach empire bag feels buttery & fantastic. Whether you like the style or not the leather and detail work is high end. How do they do it less than $700? Makes one think about $ versus quality value. Also, you look very nice in the grey and statement jewelry.
Perfect example of the people not rewarding bad behaviour, if you are gonna have your prices too expensive than we are not gonna buy. And we’ve actually succeeded in some of them dropping the prices. We need to remember that we have power as a consumer.
One brand is at the forefront of my mind when you were talking about brands taking the piss with pricing - Miu Miu. The Aventure bag is cute but WOW that price? Insane. I loved this shirt from them and was set on it until I found out it was 4000$ for a black and white shirt I was appalled, the silk is not even CLOSE to the quality of Loro Piana or Brunello’s but it’s very well double the price
For me personally it’s the complete lack of a luxury experience in store compared to back in the day… also the lack of quality and the higher prices doesn’t help. In terms of Burberry, please bring back the heritage and the quality of the brand. I have 2 pairs of boots that I have walked miles and miles with and still going strong. Plus the square scarfs I the size 140 that they discontinued, it’s my favourite and most worn of all! Now I can’t seem to find a single piece from the brand that I like!
I can so appreciate the Mulberry pricing. I have resigned myself to the fact that the luxury brands have priced me out. Honestly, I have found better quality within the mid range brands. Also small designer businesses have been a genuine surprise. Although I cannot say, I would not buy a luxury brand item. I’m just not willing to spend money for mediocre quality.
I spent my first significant bonus outfitting myself in Burberry; boots, coat and bag. I used to lust over LV and Chanel, and now I have one of each. But then it all started skyrocketing in price. Now I have more disposable income, and it's not just at bonus time that I go shopping, but I'm looking at brand like Strathberry now because I'd rather spend my money on experiences than on less quality for more money products that just aren't very luxury anymore.
Spot on with your assessment on this. However, influencers in 2020 & 2021 didn't help either. The more you all showed for content, the more people wanted and shopped.
Geli continuing to give us her presence, even when it means a jump scare noise off camera! As for someone who worked in retail for years, there are only a handful of brands I saw being carried or bought for price and quality. Funnily enough, LV was the only luxury brand I saw being chosen.
Haha Geli’s moments 🤭 LV is actually one that constantly have a wide range of product and although they’ve done price increases (not to the crest of other brands) and growth has slowed, generally they have a good plan in place
This is a PERFECT reminder that OUR dollars count as votes for what we want as consumers. Although luxury is aspirational, we the consumer are still in control and I think sometimes we forget that! The only brand I can think of is Hermes who will do whatever they want whenever they want, but for every other “luxury” brand, we hold the reigns and if we don’t like what these brands are doing we can control the market! 💪
If tariffs are activated, people will be spending more dollars on the necessities of life; of course the ultra wealthy will have moe income ( lower taxes), but I don’t think that small group can make up the difference. Great discussion.
I feel more at ease walking into high fashion brands in Asia. They treat you wish respect and kindness. In America or Europe I want to throw up. It’s like they hate you for just looking. Sorry id like to see and feel the bag before deciding. Jeeze. We’re also not impulse buying at these prices. Customer service seriously needs to get better!
Lv did dat with the murakumi collection to me I am the aspirational customer n when I have fund I buy and keep returning but this time I was told I cud preorder the collection when I went to try n pay wit sa he notified me that I was going on list n corporate had to approve …..but I previously preorder anything i wanted and pay thru link without out setting foot in store …..now the piece I truly want their withholding it from me…but if I don’t get my items I really want after this collection I’ll find other places to spend my hard earned money since they have forgotten me the aspirational customer….my feelings was so hurt n I was truly heart broken n disappointed….like y even show me the look book n tell me i can preorder jus to b told i gotta go list n corporate decide….like I’ve only shopped at this location n wit same sa since pandemic n this is the thanks i get….even when I was invited to see exotics in store i dressed in lv and even made sure to buy items from my sa for inviting me….
Oh no!! I’m so sorry this happened, I’ve heard different stores handling the Murakami collab in different ways - I haven’t been told if I’m able to pre-order yet 💖
@@CassieThorpe I went to my local LV store today and asked if I could preorder something from the Murakami collection (the multicolor cles), and the SAs (some of whom have known me for a long time) told me that preorders are restricted to clients who have a 25k euros purchase history. Not my case by any means. They tried to do it anyway and it was already sold out. Fuck knows.
@@badmedboy I have over a 35k spend history in us I buy across the board not just handbags and shoes I even buy item for my 13 yr old nephew who is not big enuff to wear men items but he know my love for Lv and he grew to love it cus of me ….so even wit him to big to fit the baby stuff n to small to fit men my nephew ask for a occasions key pouch….n if he tries a cologne sample he like he tend to ask for that fragrance
Loved this. I'd identify as that aspirational customer with luxury pieces Ive slowly accrued over years (almost universally via sale, never retail), but this makes me think of the brands Ive basically sworn off at this point due to pricing (Loewe, for example) and other lesser known brands I am much more loyal too (Marine Serre is probably my #1 at this point--j'adore the pricing, sustainability, designs). xoxo
Personally with the rise of dupes and fakes, luxury just doesn’t seem appealing anymore. It’s no longer special and the quality is trash. Why pay more when you get the look for less. I find more interest in sourcing vintage unique pieces. And I agree with you on the Sales. SSENSE had a sale all year lol. No one is buying like before.
What you do with it? Flashing to people face in the middle of the recession when people lost their job and struggling to feed the family????? happy with your pre loved Chanel going around town?
First off love your bags and I was intending to purchase some (Hermes etc) this year but have since been introduced to hand made bags by artisans who will make anything I want at a fraction of the price but at the same(maybe better) quality…. And I won’t play the game.
As someone who is cheap af with wardrobe I always invest in small luxury accessories and small goods…like sunglasses, wallets, shoes…but now I’m paying over 1200+ for some shoes and some small leather items…it’s ridiculous.
The quality of my of Louis Vuitton speedy was unacceptable. On literally the second time I got it out the lock was scuffed and the gold hardware was rubbing off! Luckily my SA was great and shipped me a new one straight away, I’m seriously wandering now that at the prices they are now asking, I simply can’t realistically justify the cost any longer. My faith in the product has taken a serious hit.
Yes great points! Money matters, so does the experience. Some brands are gateway, like getting your first YSL or Prada or Gucci piece for univ graduation etc, milestone pieces...but how do they treat you? My Mom had a box of thank-you cards and mementos from her Tiffany and Cartier SAs, when my Dad passed then sent condolences. When she passed I got cards, and in my 20s the last thing I expected was for brands to care about the feckless kid of a woman who hadn't shopped in over a year. Made me loyal ah as a customer! Cut to recent, post med appointment, new SA is snide then just walks away when I asked a question. I'm not dripping in Elsa Peretti straight from a doctor, but why exactly be rude to anyone, just because you think you can??? GF we have anything they want, like some disposable income? They aren't selling necessities. They should be welcoming to all or some customers will transfer their loyalties to a store that will treat them well.
I believe the corporate cultures have changed. My former SAs are trained in customer service and are also nice people who stay friendly to ex customers. Even though I moved states I'll get coffee with my old (semi?) retired SA when I'm in the city and maybe if schedules allow with another ex-SA who still works in their store which is possible because I'm not a current shopper with them, but they were always nice and chatty. The new rude one that I am just now free of, and with a brand new SA, wasn't the least civil let alone friendly
LVMH & Chanel need to take note. Its egregious the amount they charge especially LV with their PU canvas goods. Hermes gets away with it because it is genuinely hand crafted. What goes up must come down at some point.
Penguins are my favorite animal so love that mention You're talking a lot of sense! The disconnect between our personal evaluation and brand's market price is huge
Guess I’m not crazy for luxurious stuff anymore. After owning over 30 luxury bag 2 Birkin 1 Kelly. And many mores brands names filled up in my walks in closet. Finally getting my Bain awake lolz
You’re so right Cassie ! I ended up buying my first two luxury purchases pre loved and on Cettire. Whilst I would have preferred to buy in store, I could not commit to spending a few THOUSAND (AU dollars) MORE for the same product- knowing ALSO that just a few years ago, the same 👜 design in store was a few thousand dollars less !! They were both Fendi handbags (which I believe is one of the few designer brands that have maintained integrity with the quality of their current pieces, but still ! Talk about being priced out of the market !) I do think Designer brands need to be quite strategic now, especially in today’s challenging economic market! Totally agree with your aspirational customer comments! Great video Cassie 🌻🤗. Love watching you and your commentary ! 💕
It's about time. They were raising prices so often and by so much. We are in a cost of living crisis. I know rich people are doing well but a lot of luxury customers aren't the super rich. They are saving up for something nice. These companies hate that and only want rich and fashionable people carrying their bags. If they were allowed they would probably do fashion police patrols and rip bags off people who don't suit their brand 😆
Oh I didn’t know that Saint Laurent also lowered prices this year. Interesting because they had been trying to get off the retailer discounts that last five years or so because it was “devaluing their brand,” but of course this can be two different issues.
This is just my opinion.. Those who are ultra-rich, won't mind paying extra to have the absolute status( the reason why lux items are overpriced) . Those who just can afford buying lux items tend to buy the reasonable prices, though actually they would prefer those ultra-lux. For those who can afford lux, I recommend them to buy pre-loved because the market is overflowing with these lux items.
Honestly. As an aspirational customer. I’ve given up. By the time I’ve saved up enough for the freaking bag. That bag, now cost 20-25% MORE. Leaving me short when my goal was hit. Literally chasing a never ending dragon.
Not just the aspirational customer. Also, the impulsive spend customer. 2-3K you might be like let’s do it. 4-5K gets you thinking well that’s halfway to the real bag/piece of jewelry I want. Nonsensical but still.
I buy 1-2 luxury bags per year, but the difference now is that I buy used/vintage. Why pay thousands when I can pay a couple hundred for the same brand when quality was at its peak? It just doesn’t make sense to buy new when the innovation and quality isn’t there
To me its the fact that they treat their customers in an awful manner and still have the cheek to expect them to still buy their products after the alleged quality decline and major price increases.
Yep, some brands are better than others and they need to realise it’s an end to end experience!
and even if they get treated bad they will still purchase from that brand. Some girls was ranting online how the employees at Miu Miu treated her bad and she ended up buying the shoes… who’s fault and problem is that? This is a two way street.
@ thats on them, i would (or in some instances i literally have done it) tell the SA to fly kites if they were ever rude to me…. I will not part with my money to give to someone rude
If I want to drop 2-3k, I want to feel like a queen. Fake nice to me, do whatever it takes to make the experience worth while. Making ppl feel like a peasant isn't going to work, sure they might drop money on first purchase, but they won't be returning.
Your *xbagy* is absolutely hilarious
Prada nylon bag was $720 during covid. It’s $2k now and wonder why ppl are not buying
My nylon bc bags are free,....at the luxury grocery stores whole food market. Free and unlimited !!!!go grab some, guys
It'll be a chilly day in the deepest part of hell before I spend $720 on NYLON anything, let alone $1k. 😤
I was a crazy bag lady for many years...until recently. Luxury just isn't that special anymore. I recently found myself purchasing super cute bags from Anthropologie, etc. I may never go back to spending $5-10k on luxury bags and I don't think I'm alone.
@@islandgirl8740Yes! Anthropologie has some fun items!
❤❤Anthropology!
I feel like as the prices increase, the quality decreases aswell. I find myself collecting vintage pieces now for the price of Coach and I don't think I'll ever go back 😅
f them , you got ripped offed
Totally agree!,,
I’m a small leather artisan and in this past year especially I’ve had a lot of my clients tell me they just feel disrespected by the constant price increase while the quality seems to be dropping. They turn to small/local brands who can give them a great experience and price. I’m certainly not complaining! Big brands being silly with prices has helped me a lot! I’ll take a measly cut of their market share
@bronsonleather do you have an Etsy shop? Or where do you sell your items?
Bespoke is where it’s at now❤
@@tarreemhacaruso2687 it so is!
*xbagy* ’s bags come in a variety of styles and textures. I picked out the style I like, so happy!
Yup this is what I do. I support a local leather handbag shop in my area where everything is handmade on the premises, it's affordable, the quality is outstanding and the company powered by women
The mistake that the luxury brands make is that they forget that the aspirational customer today could be the high net worth individual tomorrow. Many people start with a bag or a hot item and then slowly start buying more. It’s a Neverfull one year, but in 10 years they could be buying ready-to-wear, jewelry, etc. The bag or the hot part of shoes is the gateway item. And the brands seem to have forgotten that fact.
But, contemporary brands like mulberry have also gotten beyond themselves.
100%!!!!
@@CassieThorpeBurberry has also gone beyond themselves.
Exactly. Like I have my normal shopping list and things I want to buy eventually as my income grows.
Literally this part. 💅
@@jennifermcgee8621but their New CEO seems to be waking up and hit the brand with a Common Sense stick. Hot Designer doesn’t equate to following trends and a price change 👀😳🤦♀️
Coach ate up so much of the luxury customer base
Yes I went back to Coach after many years even though I can afford luxury goods.
Agree. I bought two bags this year from them and I’m very happy with them
Yes!!!!! This past year I’ve been completely OBSESSED 🤩
Totally agree. Bought my first coach bags at a steal
Yes. Heavy on coach. Love the quality
Before the prices were high but manageable. You could save up and feel like you got something really special and high quality and worth the price you paid. Now everything has gone so high if you buy something, you just feel stupid. 13000 CAD for a chanel flap bag with shoddy quality . It just doesn't make sense anymore.
I could buy a car with that price and get more use out of that 13k !
@@HosCreates yup! Exactly
15000CAD if you add in the 12% tax
@annle9671 ugh girl, don't even get me started on the tax 😒
Yep the prices have gone so high that I honestly feel like that money could go into something actually useful and valuable. When you start comparing a bag to a new car or a holiday, that’s where you’ve lost me
I also think the increased quality of fakes/ dupes is also having a major impact on customer spend
Yea tbh, there are so many fake bags around now and they look just as good as the auth one. The authentic one doesn’t seem as special to me anymore
I’m Definitely buying a fake😂😂😂
Yes!!! I bought 200.00 replica and compared it to my best friend bag and it was identical
@@Talkwithtina808do you mind sharing the link I’m on the hunt for good dupes! lol ☺️
This is So true! I went to buy my first designer bag this year and realized the price difference and immediately turned my little butt around and left the store. Instead I look for well made authentic leather bags that are more unique and classy that would make you WONDER what brand it is by looks very fashionable and classic.
I think you summed it up perfectly. I used to work for a Luxury retailer, who brand motto, was get the aspirational customers in, and build long lasting relationships as their net-worth grows. However when new players enter the market they they choose to abandon those buyers, and focus on high networth customers. Who expect way more for their money. If it wasnt for new players failing they would have completely lost market share. NOW they are return back to catering to aspirational buyers. It's cost companies less to hold on existing relationships and built on goodwill, then to constantly attract new customers!
Yes!!!
what does it mean concretely to focus on high networth clients? I mean what is the difference with regards to the aspirational buyer, how is that seen in practice?
@@HeidiBartol In practice that looks like no longer carrying contemporary lines, mid-term/ diffuse lines. No longer carrying merchandise under the $2000 mark. Carrying more 1 of kinds, one-off exclusives pieces that hard to get your hands on. Creating an store atmosphere that feel initiating or no longer welcoming to window shoppers. Nordstorm would be an example of catering to the aspirational buyer, and the high net worth buyer at the same time, versus lets says Saks or Bergdorf.
@@HeidiBartol In addition to Queenb's points, consider how the aspirational customer is treated: every purchase with Tiffany or purchases made on my behalf by appointment, I was invited into the store until about 2019, for a try-on in a small private room and celebrate the selection with champagne or sparkling cider for pre-21, by a dedicated SA who was warm friendly and treated even a new plain gold charm with equal respect and courtesy as afforded a new diamond necklace. Nice box and ribbon, pouch and bagged for a home unwrapping, often a teensy box of chocolates slipped into the bag( although I suspect that was just my SA being kind) Add email invites to come to the store for fragrance samples or even a full-size new fragrance product or cup or stationery offered to "loyal" aspirationals, who might spend just $5,000-$50,000 a year broken into small purchases all year long, but that's every year. Thank you cards for the purchases mailed to the house, a Happy Birthday or Happy Thanksgiving email, aren't a big outlay but all remind the aspirational customer of their happy in-store experience, and when they return to the store they may bring friends who also buy.
The issue I have with the pricing in general is that the quality doesn't justify the price tag, even a little bit. I really hope the brands inclined to drop more "affordable" merchandise for aspirational clients (instead of decreasing prices in general) won't sacrifice the quality of those collections even further. I'm worried they'll further compromise on quality to release "cheaper" collections to trick aspirational buyers to spend their money. Also happy to see some brands backtracking cause some of them really tried too hard chasing "top tier pricing".
Coach ate up so much of the luxury customer base❤️❤️
Yuck
Luxury has gone out the door! My luxury purchases are from YSL and Celine. I can't fathom a Chanel purchase...in the end, we're all just paying for the name!!!
I have always been an LV customer but looking at the quality coming today and the fact they keep raising prices is nuts. I have four LV bags ALL pre 2000. They are wearing like iron and quality is amazing. I have LV slgs and they just don’t quit. But paying what they want today for awful workmanship I have gone to Furla and others to get new bags and slgs.
You r saying so but the people do. Love lv and still buying despite what u r saying
@@aminaelrihany8844I love LV but I’m a lot more hesitant to buy from them too.
You’re definitely correct about vintage! I got a mulberry bag for 40$ the other day… they need to recognize that we can get the quality at a MUCH cheaper price 😭
Omgg A DEAL WAS HAD!!
wait i just bought a vintage and refurbished mulberry bag too😍😍😍😍😍😍😍its definitely way more reasonable than any of similar styles i could find today
I just bought a vintage Mulberry prorsum bag! The quality was fantastic, as was the price! Searching takes time, but so worth it!💕
Is mulberry luxury. I think not
@@katemiller7874 the only reason Mulberry is not “luxury” is price + marketing. Otherwise, great leather and well made. And the Islington is so cute!
The price of a luxury bag jumped from $2,000 to $4,000 overnight... for a BASIC bag (Prada and Burberry: I am looking at you). Not sorry. I'm out (and I wasn't alone, obviously).
Yep, agree totally! They got greedy and increased prices astronomically in a bid to look exclusive and price out the aspirational buyers. In Australia, when the YSL was at the peak of its popularity, the small loulou went from $3400 up to $4200 overnight. Result was poor sales and customers turning elsewhere. The damage has been done.
Same for Gucci! I bought my Dionysus a couple of years ago for $ 2250 and now its $ 3200. A mini Diana was on my radar for $ 2500 but now they’re anywhere from $ 3500-4500. I’m not paying that price for Gucci & switched to other brands. Now they’re suffering financially.
Thank you for this video. I had a horrible experience with Cettire. My first experience purchasing a pair of hooded Attico combat boots was seamless, so I got excited thinking that I hit a lick discovering Cettire. However, my 2nd experience was where it all went down hill. I ordered a beautiful pair of Dries Van Noten shoes. When they arrived, they didn’t fit, so I couldn’t exchange them, so I sent them back and asked for a refund. It took Cettire over a month to respond and when they did, they tried to lie and say I damaged the shoe and refused to refund my money. I couldn’t!; even put the shoes on, so there was no way that I could have damaged the shoes. Cettire kept trying to send the shoes back to me anyway, but I refused acceptance and disputed payment with my bank. Never have I ever had an experience like that with a luxury retailer. Buyers beware.
I got an extra 10% off code DURING the Versace sale this year AND almost everything was 50% off whereas in the past few years I felt only a few items were down to 50% and 20-30% was much more common, so I definitely agree that these brands are realizing that people just aren't willing to pay these foolish prices for very basic items
Versace is good about doing sales
When does Versace usually go on sale?
@@TomikaKelly they have a sale going on in the US right now! I can’t remember for other countries (I feel like its earlier than US) but the US usually goes on sale around Thanksgiving (Black Friday) but goes on for a few months like now and they also usually have a summer sale as well (to be clear, the winter sale sells previous season summer clothes and the summer sale sells last season winter clothes lol)
I used to be one of those willing to spend. Especially during the pandemic. Then I realized they really took advantage of our spending power by increasing their prices left and right so I stopped! No more! I actually don’t bother with these luxury brands anymore. Thank goodness for that since I feel so much better not craving for adding another bag in my collection. I finally reached that moment in my life where all the talk of the town with regard to what’s new in fashion especially bags are nothing but noise instead of music to my ears. I do however still love to listen to your fashion news. It keeps me entertained especially if it’s all about the “downfalls” of luxury market 😂
BS
I also think people are far more aware of the cost to actually make these luxury bags and then enormous mark up in price. Then you can get just as good, if not better quality leather bags from smaller retailers/makers.
Exactly. All the customers who basically used "quality" to justify their luxury purchases have had to go elsewhere because that's not a solid argument for most super brands now.
We are in an age where more information is available than ever before and they for some reason, don't account for customers being savvy.
All the items are being made in China and shipped to Italy for the made in Italy tag OR they’re importing Chinese workers to Italy working Chinese wages. Either way the customer is being scammed
Agree Dior bags costing $75 to make should wake people up
@adriennethiery5432 I agree with both of your statements, but paired together, it sounds like the conclusion is if it's made in China or by a Chinese person, it's therefore not worthy. If that wasn't your intent, it could help to be a bit more mindful of how you arrange your thoughts. It sounds judgmental, to say the least.
Cassie, and what about Gucci?! I’m in shock about it’s price increasing… it’s just insane!!!
Idk why ppl hate on Saint Laurent. I collect bags and I probably have the most YSL bags bc they’re truly my favorite bags and I love the quality of them. When I first bought a Chanel Flap bag I was so confused bc I thought it was supposed to be quality, but it felt cheap next to my Saint Laurent Sunset. There’s weight to their products that quality items SHOULD have. For example the chains on Chanel bags feel like they’re made of plastic from how light they are, but on a YSL bag it feels like a real metal chain. Which I prefer. It feels more lux to me.
I’ll take YSL over Chanel any day. And YSL feels luxurious. People who buy those classic flaps are in such denial, they DO NOT feel luxurious to the touch lol. They have just been groomed to believe Chanel is better.
I actually always loved the look of ysl I finally bought the ysl envelope bag and front part has already peeled off their is also a little peel that happened on the corner all within a couple months, was not expecting that from a luxury brand 😢
Agree! Saint Laurent is exceptional quality.
Agree 👍 my chanel bags collecting dusts feel like granny everytime i wear them ,, on contrary with ysl and bottega feel like quality edgy feminism simplicity etc..
I bought a red YSL camera bag pre loved - don’t give a flying doodah what anybody thinks!! I love it, that’s all that matters. Go YSL ❤
I use to be a huge Mulberry fan but have been put off by the prices in recent years, decided to give Demellier a go à couple of months ago and will never look back! The price vs. quality is what Mulberry used to feel like to me 10-15 years ago
Thank you for such great insight into this topic. I have definelty pulled back on my luxury spending due to the price increases and decrease in appeal. I have shifted my funds to vintage and pre-loved because the price is better, quality is better, and I get to participate in sustainable luxury. Shoutout to customers for recognizing the power of their dollar and pulling back on the reins with these ridiculous price increases. You, the customer, are the signle most essential component to this industry. 😊
I've really been enjoying mid-priced contemporary brands so much this year.
Excellent content Cassie. I’m one of those costumers who had gone to the pre-loved market and contemporary brands since the pandemic. The last time I paid full price for a designer bag was during lockdown in May 2020. I ordered a bag directly from Gucci. Since then it has been pre-loved luxury.
Mmmm You had me at Dropping Prices! 🤑!!! Loving the Swarovski this morning, I have the bracelet version of your necklace and it’s just glorious!
Thanks so much- looks like we’re twinning 🤩
Omg your cat falling mid video is so funny 😂❤
Luxury brands become sooo greedy and overpriced while maintaining the same quality and often times the service value is not matching
increase in price, you expect more materials and higher materials
Luxury needed this reckoning 😏
Ciao from Italy where yesterday I visited the amazing Ferragamo museum in FIrenze- I thought of you! Also- more Ferragamo please! And yes to Maximillian Davis.
Oh wow I’m so jealous 🤩🤩
Great video, and so many reasons why this is happening. Poor quality, generic designs, aggressive pricing, and also the unwanted side effect of increased theft. I no longer feel comfortable wearing my expensive bags due to the prices. I don't want to be a target. It is difficult to keep spending when you can't even feel like enjoying the bag anymore.
Great point about the outlets getting merchandise when there is a change in creative directors. Those Bottega outlets are going to get some great merchandise at the end of 2025. Mark your calendars.
I’m ready 👀🤭
I would love a Hop and a Jodie at about 99% off, they'd be great errand bags🤭
I just seen Jenee score some FABULOUS pieces from the Bottega outlet 😭
Happy Wednesday Cass Cass!!! Price increasing and quality decline…luxury brands need to do better, when it comes down to the quality of their products.
Love the common sense economics with Professor Cassie. Such a great explanation of basic societal shifts around a global issue with something like a pandemic.
Haven’t heard too much about Mulberry. Love seeing this mentioned.
Such brilliant analysis of this topic. Eventually aspirational customers can become those 1% customers long term.
I just want to say your videos help brighten my lunch breaks 😊. It’s also totally true, aspirational customers are the ones brands need to aim for with great products, high quality, decent pricing and great customer service. When your first starting out you want brands to draw you in and keep you coming back and in time those customers become consistent income for brands and some turn into the high net worth individuals anyway. If brands don’t take that approach, they risk turning away aspirational customers which longer term means they miss out on consistent customers and potentially those future high net worth customers
Thank you so so much! And you’re 100% right! 💖💖💖
Great video! You make such great points.
I purchased an LV bag in Paris a couple months ago and regretted the second I purchased it. The service was disgustingly awful.
For me, it’s the lack of service. It’s so transactional, I feel I get treated better going to target sometimes.. especially the big houses like LV, Gucci etc. I had an SA at Gucci I was chatting to, so lovely. The second she found out I purchased from Fendi, she ignored me and wanted nothing to do with me… like ok then, you won’t get any future sales.. I will say I have found one brand to be amazing and that’s Fendi. At this point Fendi & Hermes are probably the only two getting my money in the future and that’s based on quality, and treatment.
Fendi is my current obsession! From the SAs to the amazing bags and accessories… I just can’t get enough! 😍
I think you summed it up perfectly
I never really comment, however, I felt compelled to say that your dad is a Gem ❤
I agree!💕
Oh, I absolutely loved this video. I've been thinking about these things for a long time, as I am that specific aspirational customer. I could buy nice stuff every month with 2019 prices, it's clearly not the case anymore. A lot of the stuff I already own, I couldn't justify buying at the current prices. They need to come back down to Earth.
Lol@ down to earth! Guaranteed they're in another strastosphere.
Amazing video Cassie!!! You didn’t mention Gucci but their price increases have felt unjustified to me lately, I am a Gucci girly but I can’t justify some of the prices, same with Prada and MiuMiu, I understand that they have been the belles des jour but you can’t ask me to shell out $5000 or more for a belted bag when I could get a leather tote/work bag for $1100 just a couple of years ago, and a sale at the outlets!
There is also the matter of quality and sweatshops, I don’t think I would ever buy another Dior bag, because of the recent reports, and we’ve all been screaming about Chanel’s quality issues.
I have turned to Hermes, both new and preloved and just limited the number of purchases over the past year. It’s not as much fun, but I know I am getting bags that I will literally pass down to my son in the future. He already wants my Kelly and he’s only 9 😂
Also; I died when you said Billy Big Bollocks and we could see Geli popping in the shot just a bit 🩶🩶🩶
I work in french luxury leather goods production and yes recruitment has dropped this year, It happens that there is a drop in activity, it is a bit in phases. :)
The leather of the soft Coach empire bag feels buttery & fantastic. Whether you like the style or not the leather and detail work is high end. How do they do it less than $700? Makes one think about $ versus quality value.
Also, you look very nice in the grey and statement jewelry.
Yeah it’s like Dior bags cost $75 to make
I agree with you. The aspirational customer adds to the perceived value of a brand. Companies underestimated that.
Perfect example of the people not rewarding bad behaviour, if you are gonna have your prices too expensive than we are not gonna buy. And we’ve actually succeeded in some of them dropping the prices. We need to remember that we have power as a consumer.
One brand is at the forefront of my mind when you were talking about brands taking the piss with pricing - Miu Miu. The Aventure bag is cute but WOW that price? Insane. I loved this shirt from them and was set on it until I found out it was 4000$ for a black and white shirt I was appalled, the silk is not even CLOSE to the quality of Loro Piana or Brunello’s but it’s very well double the price
Miu Miu is WILD
Ms. Prada is doing a full on cash grab lol 😅
and miu miu's prices used to be soooooo reasonnable just a few years ago 😭 those new prices are crazy, i was shocked seeing the aventure bag's
Well said. I agree - the brands need some self awareness.
I love these high fashion news videos from you 😍🤓 ugh! My fave!
For me personally it’s the complete lack of a luxury experience in store compared to back in the day… also the lack of quality and the higher prices doesn’t help.
In terms of Burberry, please bring back the heritage and the quality of the brand. I have 2 pairs of boots that I have walked miles and miles with and still going strong. Plus the square scarfs I the size 140 that they discontinued, it’s my favourite and most worn of all! Now I can’t seem to find a single piece from the brand that I like!
I can so appreciate the Mulberry pricing. I have resigned myself to the fact that the luxury brands have priced me out. Honestly, I have found better quality within the mid range brands. Also small designer businesses have been a genuine surprise. Although I cannot say, I would not buy a luxury brand item. I’m just not willing to spend money for mediocre quality.
I spent my first significant bonus outfitting myself in Burberry; boots, coat and bag. I used to lust over LV and Chanel, and now I have one of each. But then it all started skyrocketing in price. Now I have more disposable income, and it's not just at bonus time that I go shopping, but I'm looking at brand like Strathberry now because I'd rather spend my money on experiences than on less quality for more money products that just aren't very luxury anymore.
Spot on with your assessment on this. However, influencers in 2020 & 2021 didn't help either. The more you all showed for content, the more people wanted and shopped.
You are 💯 right. My pet peeve is when they start saying an item « is so affordable » then the brand gets the word and raise the price!
I have 100% focused on Strathberry and now have a wall of Strathberry pieces. Great prices, great quality! And loyalty is rewarded!
Victoria Magrath likes Strathberry ;)
Geli continuing to give us her presence, even when it means a jump scare noise off camera! As for someone who worked in retail for years, there are only a handful of brands I saw being carried or bought for price and quality. Funnily enough, LV was the only luxury brand I saw being chosen.
Haha Geli’s moments 🤭 LV is actually one that constantly have a wide range of product and although they’ve done price increases (not to the crest of other brands) and growth has slowed, generally they have a good plan in place
Nice video and thanks for the information
This is a PERFECT reminder that OUR dollars count as votes for what we want as consumers. Although luxury is aspirational, we the consumer are still in control and I think sometimes we forget that! The only brand I can think of is Hermes who will do whatever they want whenever they want, but for every other “luxury” brand, we hold the reigns and if we don’t like what these brands are doing we can control the market! 💪
Fantastic discussion
Excellent analysis
Thank you Ma'am
If tariffs are activated, people will be spending more dollars on the necessities of life; of course the ultra wealthy will have moe income ( lower taxes), but I don’t think that small group can make up the difference. Great discussion.
Nice review ❤
I feel more at ease walking into high fashion brands in Asia. They treat you wish respect and kindness. In America or Europe I want to throw up. It’s like they hate you for just looking. Sorry id like to see and feel the bag before deciding. Jeeze. We’re also not impulse buying at these prices. Customer service seriously needs to get better!
I wish more brands had self awareness
Same lol
Thank you for such great insight into this topic🤩
Lv did dat with the murakumi collection to me I am the aspirational customer n when I have fund I buy and keep returning but this time I was told I cud preorder the collection when I went to try n pay wit sa he notified me that I was going on list n corporate had to approve …..but I previously preorder anything i wanted and pay thru link without out setting foot in store …..now the piece I truly want their withholding it from me…but if I don’t get my items I really want after this collection I’ll find other places to spend my hard earned money since they have forgotten me the aspirational customer….my feelings was so hurt n I was truly heart broken n disappointed….like y even show me the look book n tell me i can preorder jus to b told i gotta go list n corporate decide….like I’ve only shopped at this location n wit same sa since pandemic n this is the thanks i get….even when I was invited to see exotics in store i dressed in lv and even made sure to buy items from my sa for inviting me….
Oh no!! I’m so sorry this happened, I’ve heard different stores handling the Murakami collab in different ways - I haven’t been told if I’m able to pre-order yet 💖
@ dat crazy cus they been open
@@CassieThorpe I went to my local LV store today and asked if I could preorder something from the Murakami collection (the multicolor cles), and the SAs (some of whom have known me for a long time) told me that preorders are restricted to clients who have a 25k euros purchase history. Not my case by any means. They tried to do it anyway and it was already sold out. Fuck knows.
Maybe LV wants a lawsuit like Hermes
@@badmedboy I have over a 35k spend history in us I buy across the board not just handbags and shoes I even buy item for my 13 yr old nephew who is not big enuff to wear men items but he know my love for Lv and he grew to love it cus of me ….so even wit him to big to fit the baby stuff n to small to fit men my nephew ask for a occasions key pouch….n if he tries a cologne sample he like he tend to ask for that fragrance
Loved this. I'd identify as that aspirational customer with luxury pieces Ive slowly accrued over years (almost universally via sale, never retail), but this makes me think of the brands Ive basically sworn off at this point due to pricing (Loewe, for example) and other lesser known brands I am much more loyal too (Marine Serre is probably my #1 at this point--j'adore the pricing, sustainability, designs). xoxo
🫶🫶🫶
I totally agree with prices have gone up but quality is”shoddy” of many luxury items.
Love the range of topics you are hitting lately. No one is going this deep with fashion. A modern Elsa Klensch❤ Dating myself 😅
Aahhhh why thank you 🙈💖💖💖
So awesome! Someone else remembers Elsa Klensch! 🙌 Loved her! 💞
@ 🙏🏿 She sparked my interest in fashion and luxury
Personally with the rise of dupes and fakes, luxury just doesn’t seem appealing anymore. It’s no longer special and the quality is trash. Why pay more when you get the look for less. I find more interest in sourcing vintage unique pieces. And I agree with you on the Sales. SSENSE had a sale all year lol. No one is buying like before.
Excellent video ☺️
For me im not spending 2000 dollars on Mulberry when I can spend 2800 and get a Chanel pre-loved and it holds its value. That’s my girl math😂
What you do with it? Flashing to people face in the middle of the recession when people lost their job and struggling to feed the family????? happy with your pre loved Chanel going around town?
@@Hippy2021you can just say it’s a fake
@@Hippy2021that’s not her business or problem
fantastic review
First off love your bags and I was intending to purchase some (Hermes etc) this year but have since been introduced to hand made bags by artisans who will make anything I want at a fraction of the price but at the same(maybe better) quality…. And I won’t play the game.
I bought a very beautifully made, inexpensive leather bag from Fossil.. I'm really happy with this eye catcher
I was priced out awhile ago, so about time
As someone who is cheap af with wardrobe I always invest in small luxury accessories and small goods…like sunglasses, wallets, shoes…but now I’m paying over 1200+ for some shoes and some small leather items…it’s ridiculous.
The quality of my of Louis Vuitton speedy was unacceptable. On literally the second time I got it out the lock was scuffed and the gold hardware was rubbing off! Luckily my SA was great and shipped me a new one straight away, I’m seriously wandering now that at the prices they are now asking, I simply can’t realistically justify the cost any longer. My faith in the product has taken a serious hit.
Nice bag collection video
Yes great points! Money matters, so does the experience. Some brands are gateway, like getting your first YSL or Prada or Gucci piece for univ graduation etc, milestone pieces...but how do they treat you? My Mom had a box of thank-you cards and mementos from her Tiffany and Cartier SAs, when my Dad passed then sent condolences. When she passed I got cards, and in my 20s the last thing I expected was for brands to care about the feckless kid of a woman who hadn't shopped in over a year. Made me loyal ah as a customer! Cut to recent, post med appointment, new SA is snide then just walks away when I asked a question. I'm not dripping in Elsa Peretti straight from a doctor, but why exactly be rude to anyone, just because you think you can??? GF we have anything they want, like some disposable income? They aren't selling necessities. They should be welcoming to all or some customers will transfer their loyalties to a store that will treat them well.
How wonderful. I’m glad they treated your mother well. Yes they are awful now
@katemiller7874 Thank you so much. Yes they were for a long time very kind💛 You're seeing changes too it seems? How has your experience been?
I believe the corporate cultures have changed. My former SAs are trained in customer service and are also nice people who stay friendly to ex customers. Even though I moved states I'll get coffee with my old (semi?) retired SA when I'm in the city and maybe if schedules allow with another ex-SA who still works in their store which is possible because I'm not a current shopper with them, but they were always nice and chatty. The new rude one that I am just now free of, and with a brand new SA, wasn't the least civil let alone friendly
LVMH & Chanel need to take note. Its egregious the amount they charge especially LV with their PU canvas goods. Hermes gets away with it because it is genuinely hand crafted. What goes up must come down at some point.
hermes hand marketing thing is exaggerated - it is still heavily overpriced. I suspect their margin is in around 80-90%
@@SandraAtilgantrue, but I guess the image of hand made rather than machine gives them a better image than Chanel that are the same price
Penguins are my favorite animal so love that mention
You're talking a lot of sense! The disconnect between our personal evaluation and brand's market price is huge
Personally I will never buy a luxury bag ever again
I was made redundant twice this year and it made me rethink my finances more
Helpful content 💗
im sorry but Angelica just killed it in this video😂 the tail, then the random falling off a chair
;)
Guess I’m not crazy for luxurious stuff anymore. After owning over 30 luxury bag 2 Birkin 1 Kelly. And many mores brands names filled up in my walks in closet. Finally getting my Bain awake lolz
Cassie keep going and creating great content😀 your Video are so wonderful and I love to watch your Videos 💖💖
That means so much to me! Thank you!
You’re so right Cassie ! I ended up buying my first two luxury purchases pre loved and on Cettire. Whilst I would have preferred to buy in store, I could not commit to spending a few THOUSAND (AU dollars) MORE for the same product- knowing ALSO that just a few years ago, the same 👜 design in store was a few thousand dollars less !! They were both Fendi handbags (which I believe is one of the few designer brands that have maintained integrity with the quality of their current pieces, but still ! Talk about being priced out of the market !) I do think Designer brands need to be quite strategic now, especially in today’s challenging economic market! Totally agree with your aspirational customer comments! Great video Cassie 🌻🤗. Love watching you and your commentary ! 💕
It's about time. They were raising prices so often and by so much. We are in a cost of living crisis. I know rich people are doing well but a lot of luxury customers aren't the super rich. They are saving up for something nice. These companies hate that and only want rich and fashionable people carrying their bags. If they were allowed they would probably do fashion police patrols and rip bags off people who don't suit their brand 😆
Very useful video!
“As rare as seeing a penguin on the streets of NY” 😂😂😂❤❤❤
Oh I didn’t know that Saint Laurent also lowered prices this year. Interesting because they had been trying to get off the retailer discounts that last five years or so because it was “devaluing their brand,” but of course this can be two different issues.
If the economy doesn't pick up,.im.going to rehab...but I say no no noooo
Well said! You have the best commentary
This is just my opinion..
Those who are ultra-rich, won't mind paying extra to have the absolute status( the reason why lux items are overpriced) .
Those who just can afford buying lux items tend to buy the reasonable prices, though actually they would prefer those ultra-lux.
For those who can afford lux, I recommend them to buy pre-loved because the market is overflowing with these lux items.
Honestly. As an aspirational customer. I’ve given up. By the time I’ve saved up enough for the freaking bag. That bag, now cost 20-25% MORE. Leaving me short when my goal was hit. Literally chasing a never ending dragon.
Let’s get to 160k subs before the year ends!
🫶🤞🏽
Thanks for sharing. Very interesting analysis
Not just the aspirational customer. Also, the impulsive spend customer. 2-3K you might be like let’s do it. 4-5K gets you thinking well that’s halfway to the real bag/piece of jewelry I want. Nonsensical but still.
No I get it, Chanel costume jewellery prices got to the level where you could buy real gold, and customers realised it
I’ve noticed that they’re introducing new products at lower price points. Specifically Loewe and Fendi, I think
Luxury used to be for the top 10%, now it's fashion for 60-70% of the population 😅 that's why quality dropped bc of mass production
Good point
I buy 1-2 luxury bags per year, but the difference now is that I buy used/vintage. Why pay thousands when I can pay a couple hundred for the same brand when quality was at its peak? It just doesn’t make sense to buy new when the innovation and quality isn’t there
Agree I think pre loved is becoming more popular