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.
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.
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 👀😳🤦♀️
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
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
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.
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 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".
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.
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 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.
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.
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
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 😭
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 😂
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.
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 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.
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.
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.
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 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
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.
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!
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 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
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.
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
Coach is making a major comeback. It’s like people heard that Cardi B doesn’t wear it and thought thank goodness! 😅 kidding, but coach is really doing their thing.
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.
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!
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.
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.
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
I’m a vintage lover. The quality is better and the creativity remains competitive. There are some pieces from the early 2000’s that still remain uniquely situated in the market. It’s going to be interesting to see what the future holds!
Chanel, YSL, Louis Vuitton, and The Row (I can't give the Olsen twins my money🤨) have lost their minds with the price jumps. The resell value for all of these bags (except Chanel ) is not good at all.
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.
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
Cassie I must disagree with your theory on why big brands are “losing” money. The Pareto Law says that 20% of your clients will render 80% of your profits. That is marketing/sales 101. Those high purchasers will continue to purchase as prices increase. They will actually pull away from brands that are becoming too main stream because that means losing exclusivity. When you spend $7,000 on a bag you don’t want to enter a room a see 5 identical bags as the one you’re carrying. What is really bringing big labels down is how trendy they are becoming where something is in now and out in 6 months because it is seen through social media and easily copied everywhere until it becomes nauseating. Also the fact the brands are becoming so greedy that each line consists far too many choices all at once. In the past a brand would introduce one or two new bags, now there are countless bags, shoes, ready to wear, accessories from many brands who can’t chose a lane out of FOMO (fear of missing out). So they constantly step on each other’s toes (products) and have lost uniqueness and efficacy. True quality brands have increased prices in an effort to get away from the masses and maintain exclusivity. Those who aren’t buying because of price increase are precisely the ones they want fall short of purchasing their products. Btw, these brands never lose money.
Luxury pricing but not so much luxury service or even luxury product. We’ve seen outright greed with their fast and furious price rises and we aren’t coming along for the ride. A two tier system appears to be back in play but times have changed and that gap has closed. We don’t like, or want, the division that they apparently do. Entering a store will soon be like boarding a plane - left for couture and leather goods, right for scarves and sunglasses - with 90% of us being ushered to the right. If department stores that have been around for a century or more can bite the dust, who’s to say the odd luxury house won’t head the same way?
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
For me it’s the fact that they already have their entry level bags (lv for example) like they don’t need another cheaper product. Like even their smaller slgs are getting kinda ridiculous. I mostly just shop Fendi and I’ve found they’re a brand you can get a pretty quality bag for under 2.5k. I also think they don’t really have annual price rises and they might have recognized that they’ve hit what their price ceiling.
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.
It been very long time since you could buy bags or anything expensive items because of the changes in the world. It’s very sad this happened and this companies should not complain they should see how people now shop. Happy holidays enjoy!
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.
So many “bag youtubers” keep making disparaging comments on YSL, and yet YSL continuously churns out one of the best fashion shows every fashion week lol. The recent Spring/Summer 2025 womenswear with Bella Hadid and the oversized jackets was nearly everywhere on social media if you follow enough fashion accounts. The problem with “handbag people” is that they think YSL is just for bags when really, YSL is at its best with *ready-to-wear.* There’s a niche of fashion youtubers and tiktokers who say YSL coats are their “dream coat” and Mary’s Room (a TH-camr who does fashion analysis videos) said YSL doesn’t even showcase bags in their runway. YSL’s true *”hero pieces”* are their ready-to-wear, like their coats and jackets. I think most “handbag youtubers” make the mistake of categorizing YSL the same as Bottega (an actual leather goods brand) when actually YSL is more akin to Schiaparelli, Valentino, or Versace. In that not a lot people buy their leather goods but their ready-to-wear is the true focus of the brand and creative director.
I have noticed that while Bottega has not decreased prices on their existing bags, many of the new bag ranges are now priced at a lower price point. For example, the Vanity Case bag is now cheaper than their Small Pouch, despite having a similar look and size.
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! 💪
Aspirational customer enters the market: sees a bag from xyz at 2500. Waits and thinks: why not wait and save and buy what I “actually want” in 6months from abc!?! Exit.
Instead of improving the luxury experience, they raised the prices, hoping to shoo away the long lines of customers that queue up, in sweatpants in front of the stores. I think that keeping customers happy would be keeping the prices regulated, and shifting to appointment only. Or setting up a a system that people can queue digitally. They will keep people that are aspirational happy with reachable prices (that can be bought online), and maintain the luxury shopping experience within retail for serious customers. It is nice to go into a store, be offered a seat, some water or champagne, and not be shoved around. The long lines are ghetto and people don't dress well, are definitely taking away from the luxury experience. I'm going to brutal but what is the point of a nice bag, while looking sloppy otherwise? That's what is turning customers away. Dressing well, and purchasing something nice, and then going somewhere nice, with people that also care, is rare these days! Luxury companies should invest in luxury experiences beyond the products they sell. So people have places to go to be fancy. I think Bulgari is doing that with their hotels.
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.
I don't have any luxury bags but I do want to buy some in the future so that it will last me decades. I plan to use these bags as much as I can and not only for display. I am so careful shelling out large amounts of money only hearing my other friends complaining about the decline of recently bought luxury bags. So for now, I will stick with the bags I have.
Coffee time!☕ Anyone remember the movie, Mr.Mom? We see you, we hear you, we're dropping our prices!! The ad campaign for Schooner Tuna! The tuna with a heart! ❤ It's a great strategy!!🎉🎉🎉
Love Mulberry. The quality is impeccable and I highly recommend the brand. SL did the right thing yet their prices are still a bit much and you can get them for cheaper on pre-loved or discount luxury like Cettire. Burberry’s prices are ridiculous. I cannot wait for the price adjustment and hopefully an improvement in quality. To be perfectly honest…I bought a lovely Stathberry bag and it’s been a love for me.
I agree with you 100%. All the influencer marketing and brand ambassadors won't matter much for the VIC, but would resonate more with the aspirational shoppers. The luxury brands shouldn't neglect that market.
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 ! 💕
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 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!
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.
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 👀😳🤦♀️
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!
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
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 🤩
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.
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.
people hate on ysl the same way people hate on gucci. it is “too affordable”. people want to gate keep luxury so bad haha.
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 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 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".
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.
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 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.
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.
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 😅
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
@ maybe you should watch the video! Hope this helps 👍🏻
Luxury brands become sooo greedy and overpriced while maintaining the same quality and often times the service value is not matching
Cassie, and what about Gucci?! I’m in shock about it’s price increasing… it’s just insane!!!
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 😂
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.
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 😂❤
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 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.
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 😭
Luxury needed this reckoning 😏
Well said! You have the best commentary
I've really been enjoying mid-priced contemporary brands so much this year.
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.
I wish more brands had self awareness
Same lol
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 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! 💖💖💖
I never really comment, however, I felt compelled to say that your dad is a Gem ❤
I agree!💕
Prada nylon bag was $720 during covid. It’s $2k now and wonder why ppl are not buying
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.
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!
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.
I agree with you. The aspirational customer adds to the perceived value of a brand. Companies underestimated that.
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 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
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.
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
🫶🫶🫶
Coach is making a major comeback. It’s like people heard that Cardi B doesn’t wear it and thought thank goodness! 😅 kidding, but coach is really doing their thing.
I love these high fashion news videos from you 😍🤓 ugh! My fave!
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.
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 always appreciate your point of view regarding these brands 😀💕
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
im sorry but Angelica just killed it in this video😂 the tail, then the random falling off a chair
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.
If the economy doesn't pick up,.im.going to rehab...but I say no no noooo
“As rare as seeing a penguin on the streets of NY” 😂😂😂❤❤❤
*xbagy* ’s bags come in a variety of styles and textures. I picked out the style I like, so happy!
I was priced out awhile ago, so about time
"Know that if you fall off the chair, you might hit the mirror" is my new Mantra
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 🤩🤩
Cassie Thorpe great video❤
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.
I think this is great! You have to remember that majority of us save up for a “splurge” ❤🎉
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
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
I’m a vintage lover. The quality is better and the creativity remains competitive. There are some pieces from the early 2000’s that still remain uniquely situated in the market. It’s going to be interesting to see what the future holds!
Well said. I agree - the brands need some self awareness.
Chanel, YSL, Louis Vuitton, and The Row (I can't give the Olsen twins my money🤨) have lost their minds with the price jumps. The resell value for all of these bags (except Chanel ) is not good at all.
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.
Great video!
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
Cassie I must disagree with your theory on why big brands are “losing” money. The Pareto Law says that 20% of your clients will render 80% of your profits. That is marketing/sales 101. Those high purchasers will continue to purchase as prices increase. They will actually pull away from brands that are becoming too main stream because that means losing exclusivity. When you spend $7,000 on a bag you don’t want to enter a room a see 5 identical bags as the one you’re carrying. What is really bringing big labels down is how trendy they are becoming where something is in now and out in 6 months because it is seen through social media and easily copied everywhere until it becomes nauseating. Also the fact the brands are becoming so greedy that each line consists far too many choices all at once. In the past a brand would introduce one or two new bags, now there are countless bags, shoes, ready to wear, accessories from many brands who can’t chose a lane out of FOMO (fear of missing out). So they constantly step on each other’s toes (products) and have lost uniqueness and efficacy. True quality brands have increased prices in an effort to get away from the masses and maintain exclusivity. Those who aren’t buying because of price increase are precisely the ones they want fall short of purchasing their products. Btw, these brands never lose money.
Luxury pricing but not so much luxury service or even luxury product. We’ve seen outright greed with their fast and furious price rises and we aren’t coming along for the ride. A two tier system appears to be back in play but times have changed and that gap has closed. We don’t like, or want, the division that they apparently do. Entering a store will soon be like boarding a plane - left for couture and leather goods, right for scarves and sunglasses - with 90% of us being ushered to the right. If department stores that have been around for a century or more can bite the dust, who’s to say the odd luxury house won’t head the same way?
,I fully agree w u, excellent review
U really r one of the go to niche utubers
In this
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
For me it’s the fact that they already have their entry level bags (lv for example) like they don’t need another cheaper product. Like even their smaller slgs are getting kinda ridiculous.
I mostly just shop Fendi and I’ve found they’re a brand you can get a pretty quality bag for under 2.5k. I also think they don’t really have annual price rises and they might have recognized that they’ve hit what their price ceiling.
I knew something was missing from my Wednesday... then I saw you posted a new video and my day was set straight again!! 😊
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!
Just wow! Great video!!!❤
Thank you!!💖💖
Great analysis
I have 100% focused on Strathberry and now have a wall of Strathberry pieces. Great prices, great quality! And loyalty is rewarded!
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.
It been very long time since you could buy bags or anything expensive items because of the changes in the world. It’s very sad this happened and this companies should not complain they should see how people now shop. Happy holidays enjoy!
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.
“They did have one of those, it was a really really hideous dress” 🤣🤣
Cassie, it is call Greed. Now they will come back down to earth with their prices.
Gelli yelling in the background for attention 😂
So many “bag youtubers” keep making disparaging comments on YSL, and yet YSL continuously churns out one of the best fashion shows every fashion week lol. The recent Spring/Summer 2025 womenswear with Bella Hadid and the oversized jackets was nearly everywhere on social media if you follow enough fashion accounts.
The problem with “handbag people” is that they think YSL is just for bags when really, YSL is at its best with *ready-to-wear.* There’s a niche of fashion youtubers and tiktokers who say YSL coats are their “dream coat” and Mary’s Room (a TH-camr who does fashion analysis videos) said YSL doesn’t even showcase bags in their runway. YSL’s true *”hero pieces”* are their ready-to-wear, like their coats and jackets.
I think most “handbag youtubers” make the mistake of categorizing YSL the same as Bottega (an actual leather goods brand) when actually YSL is more akin to Schiaparelli, Valentino, or Versace. In that not a lot people buy their leather goods but their ready-to-wear is the true focus of the brand and creative director.
Prices nowadays just make me feel like a clown when I pay retail.
I have noticed that while Bottega has not decreased prices on their existing bags, many of the new bag ranges are now priced at a lower price point. For example, the Vanity Case bag is now cheaper than their Small Pouch, despite having a similar look and size.
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! 💪
Aspirational customer enters the market: sees a bag from xyz at 2500.
Waits and thinks: why not wait and save and buy what I “actually want” in 6months from abc!?!
Exit.
Instead of improving the luxury experience, they raised the prices, hoping to shoo away the long lines of customers that queue up, in sweatpants in front of the stores. I think that keeping customers happy would be keeping the prices regulated, and shifting to appointment only. Or setting up a a system that people can queue digitally. They will keep people that are aspirational happy with reachable prices (that can be bought online), and maintain the luxury shopping experience within retail for serious customers. It is nice to go into a store, be offered a seat, some water or champagne, and not be shoved around. The long lines are ghetto and people don't dress well, are definitely taking away from the luxury experience. I'm going to brutal but what is the point of a nice bag, while looking sloppy otherwise? That's what is turning customers away. Dressing well, and purchasing something nice, and then going somewhere nice, with people that also care, is rare these days! Luxury companies should invest in luxury experiences beyond the products they sell. So people have places to go to be fancy. I think Bulgari is doing that with their hotels.
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.
I don't have any luxury bags but I do want to buy some in the future so that it will last me decades. I plan to use these bags as much as I can and not only for display. I am so careful shelling out large amounts of money only hearing my other friends complaining about the decline of recently bought luxury bags. So for now, I will stick with the bags I have.
Coffee time!☕ Anyone remember the movie, Mr.Mom? We see you, we hear you, we're dropping our prices!! The ad campaign for Schooner Tuna! The tuna with a heart! ❤ It's a great strategy!!🎉🎉🎉
Love Mulberry. The quality is impeccable and I highly recommend the brand. SL did the right thing yet their prices are still a bit much and you can get them for cheaper on pre-loved or discount luxury like Cettire. Burberry’s prices are ridiculous. I cannot wait for the price adjustment and hopefully an improvement in quality. To be perfectly honest…I bought a lovely Stathberry bag and it’s been a love for me.
Retail in general has ALWAYS struggled with “quantity vs quality.
I agree with you 100%.
All the influencer marketing and brand ambassadors won't matter much for the VIC, but would resonate more with the aspirational shoppers. The luxury brands shouldn't neglect that market.
😂😂 was that your kitty?
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 ! 💕
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.
There's also coach! Does anyone know if they still have lifetime warranty? I love the pricing for their leather bags arent that ridiculous ❤