In Case You Missed It

No one wants to buy champagne from bland liquor store shelves anymore

need to know
news
featured-post
health
wellness
beauty
sustainability
retail
technology
architecture
drinks
culture
product design
education
community
health & wellness
category - ai
category - entertainment
category - fashion
sector - food & drink
type - need to know
Need To Know
category - age
sector - beauty
category - design
category - devices
category - luxury
category - mobility
category - sustainability
sector - health & wellness
sector - media & technology
sector - youth
sector - luxury

Welcome to ICYMI*, In case you missed it, our weekly debrief of the trends we spotted first making it to the mainstream and the thought-provoking insights you need to know, curated by our in-house experts. 

No one wants to buy champagne from bland liquor store shelves anymore.

Moët Hennessy CEO Philippe Schaus has nothing against liquor stores and supermarkets, but he forecasts his customers want more. At NRF 2024 Retail's Big Show, he said redefining the luxury in-store shopping experience for champagne, wine and spirits is crucial to remain relevant.

Schaus emphasised moving beyond traditional liquor store purchases and drawing inspiration from LVMH’s fashion, watches and beauty brands. As a best-in-class example, he presented California-based Chandon Home, a wine-tasting destination in nature that features re-imagined tasting spaces, and the exclusive micro-community programme Club Chandon. In January 2024, the venue opened its new lounge designed exclusively for Club Chandon members. Fancy! 

Access all the best insights from NRF 2024 Retail's Big Show on LS:N Global.

Powered by:

5 February 2024

Author: The Future Laboratory

Image: NRF 2024: Retail’s Big Show, US

Share

Cravan by Moët Hennessy. Photography by Vincent Leroux, Paris, France

#WeSawItComing 

In a 2023 report, Sotheby’s saw a record number of Gen Z buyers aged 20 and under, 35% higher than in 2022. ‘Last year, 30% of all [watch] lots were purchased by those in their thirties and under. So there’s no question that buyers in that age class…are spending considerable sums of money on watches,’ Sotheby’s American head of watches Geoff Hess told Fortune. That’s true not just for watches, but across the entire luxury sector.

Back in September 2023, in our Luxury Recrafted macro trend report, senior foresight analyst Marta Indeka and creative foresight analyst Emily Rhodes forecast that Gen Z, as a new generation of collectors rather than consumers, will push luxury brands to focus on craftsmanship and one-of-a-kind pieces as new tokens of status. 

Download the full report now: https://www.thefuturelaboratory.com/reports/2023/luxury-recrafted 

Members of LS:N Global can access the full report for free: https://www.lsnglobal.com/macro-trends/article/29834/luxury-recrafted  

‘Gen Z might not all have the financial means (yet) to live and breathe luxury but their fascination for the craft and their eye spotting references in pop culture make them the ultimate audience for luxury brands seeking relevance in the 2020s. Sotheby’s study confirms this shift happening within luxury houses from ‘could appeal to Gen Z’ to ‘must appeal to Gen Z’
Dan Hastings-Narayanin, Deputy Foresight Editor
New Renaissance by Ferragamo in partnership with Le Gallerie degli Uffizi. Photography by Tyler Mitchell, Italy

Our top 5 Need to Knows of the week – curated by deputy foresight editor Dan Hastings:

: Have you heard of non-fungible plants? Think of an NFT as data stored inside a plant's DNA. They could be the future of decentralised eco-data centres

: Anime’s popularity among American Gen Z reaches a historical high and even surpasses the NFL

: Apple waste can now be turned into a conscious textile cheekily named The Adam Sheet

: Carepet is the new award-winner intelligent bed that collects and monitors your dog’s heart rate, breathing, sleep quality and daily activity 

: L’École Van Cleef & Arpels in Paris has opened an expansive learning centre, exhibition space, bookstore and a well-equipped library all about the world of jewellery
 

Want to read more?
Become a member today!

Sign up to one of our trends intelligence platform, LS:N Global and get unlimited access to a hive of insights - from microtrends and macrotrends to market reports, daily news, research across eight industry sectors and much more.


Discover our memberships

Already a member? Click here to login