Glamour sat down with Michelle-Marie Heinemann Scaglia, the CEO of Old Fashioned Mom LLC and her two children Hudson Heinemann and Hyacinth Heinemann to discuss emerging luxury trends.
As 2023 draws near, luxury leaders across the industry are focusing on growth. Statistics show that revenue in the luxury goods market is more than $US 312 billion in 2022, and expected to grow more than 5% annually. With the luxury market looking strong, luxury brands across the industry must find ways to differentiate themselves in authentic, but actionable, ways.
That’s why it’s crucial to look at existing and emerging luxury trends to act on. According to Mrs. Heinemann Scaglia “One of the biggest emerging luxury consumer trends to watch across all industries is eco-consciousness. Sustainability and eco-consciousness is increasingly on consumers’ minds, and as such, luxury sectors need to align their values with consumers’ values if they want long-term customers.”
When it comes to the luxury sector, think of ways you can actively enact—and promote—sustainable practices. Think of strategies like reducing plastic use, using recycled or upcycled furniture, making a pledge to reduce carbon emissions and purchasing ethically sourced products.“
This mindset transfers into every day living and as a whole and has a tremendous impact on our existence. Hyacinth Heinemann added, “When I started my candy line for Old Fashioned Mom, eco-friendly candy packaging and the benefits were very important to me and I knew would be appreciated by our clients, as it reduces the carbon footprint. Additionally my candies are non-GMO with allulose, monk fruit, and stevia to sweeten. I’m 11 years old, and I wanted to create candy that tastes delicious that everyone loves while keeping inmind good health and eco-consciousness.”
Hudson Heinemann, who created a Beeswax candle line for Old Fashioned Mom, said “Running a luxury brand means coming up with tomorrow’s trend: the new product or service that perfectly fits their consumer’s needs, even when the consumers don’t know they needed it.
Innovation is therefore at the heart of luxury. It is especially key today considering the consumer persona of luxury products and services is ever-changing. I am constantly discussing new ideas with my mother and eco-consciousness is not only a way of life for my family, but an extension of our beliefs.”