Global Impact of Inclusivity on Shaping the Face of Luxury

The global luxury market has been estimated to be worth over $1 trillion, with the majority of this coming from Europe and the US, with Africa & Arabia rapidly rising. As the affluent industry has grown, so too has the focus on creating products and experiences that are accessible to a wider array of shoppers. This shift has been driven by an increased awareness of diversity and inclusion, as well as a desire to create products, services and experiences that reflect the needs and interests of a more diverse demographic.

The luxury sector is now embracing a more inclusive approach to 'luxury', one that is based on personalization and individuality. This means that luxury products and experiences are no longer just for the wealthy and privileged, but are available to everyone. From luxury cars that are designed with personal touches to bespoke couture collections that celebrate diversity, the luxury sector is embracing a new approach to luxury.

In addition to offering more personalized and individualized products and experiences, the luxury sector is also embracing a more sustainable approach to luxury. This includes a commitment to ethical and responsible production practices, as well as a focus on using materials that are sourced in an environmentally-friendly manner. Furthermore, the industry is also looking at ways to create products and services that are more affordable and accessible, such as offering more affordable luxury items and creating rental and subscription-based models.

The luxury market is also using technology in innovative ways to make luxury more accessible. For example, many luxury brands are now offering virtual shopping experiences, like I Am Nubia's Tastemaker Noire events ~ allowing customers to browse their collections from the comfort of their own home. In addition, technology is being used to create personalized experiences, such as virtual fashion shows and virtual try-on experiences. These experiences are designed to make luxury more personal, allowing customers to customize their shopping experience and create unique items that reflect their individual tastes and preferences. 

The luxury industry is also embracing diversity and inclusion in its marketing efforts. This includes featuring people from a variety of backgrounds, including different genders, ethnicities, and age groups. Furthermore, many luxury brands are using their marketing efforts to highlight a range of social issues, from mental health awareness to gender equality. By creating campaigns that celebrate diversity and inclusion, luxury brands are helping to create a more inclusive industry that is open to everyone.

Luxury has come a long way in recent years, embracing a more inclusive approach to luxury that is based on personalization, sustainability, accessibility, and diversity. By making luxury more accessible, more sustainable, and more inclusive, the sector is creating an industry that is open to all, regardless of their background or financial situation. As the sector continues to evolve, it is clear that the definition of luxury is no longer just for the wealthy and privileged, but is for everyone.