WGSN has identified four typical profiles.

Mindful luxurians

41% of consumers place necessity above all other considerations. When they buy something, it’s because they need it.
According to WGSN, since the pandemic, some people want to accumulate less.
“Across Asia, consumers have moved away from the conventional notion of conspicuous consumption to a more rational mindset, wishing to link luxury with well-being, with an emphasis on comfort and convenience.”

The Mindful luxurians are looking for experiences. “Sensory concepts such as soundscapes or immersive light installations can bring meaningful escapism and unexpected moments into the retail space, encouraging consumers to spend time in the store,” comments WGSN.

Self-rewarders

These people like to pamper themselves at key moments in their lives. They indulge themselves with brands they’ve been wanting to buy from for a long time.
Self-rewarders are familiar with omnichannel shopping. They are used to doing their shopping at the click of a button. Completing an order gives them real satisfaction. According to WGSN, they often use deferred payment methods. “These consumers expect more accessible payment options for non-essential purchases such as luxury goods and clothing. It’s important to offer them these options both online and in-store.”

Multi-dimensional escapist

They’re increasingly …