How Luxury Survived The Pandemic
Illustration by Samy Halim

Interested in Learning More About PropTech?

Contact us today and we will be happy to chat with you.

Contact us

How Luxury Survived The Pandemic

December 21, 2021
Read Time:

Whether or not we realize it, ‘the pandemic’ has changed our perspective, sensibility, vulnerability and sense of time.

As Rhonda Garelick writes in The Washington Post magazine, “the #pandemic has shifted cultural bedrock, upending fundamental assumptions about value, pleasure, bodies, communication, freedom and even what constitutes ownership of a “thing” or traveling to a “place.”

In the midst of the anxiety and isolation of the pandemic, many individuals experienced a sense of deprivation and suffering. Seeking outlets for self-indulgence, individuals used their accumulated, disposable income and flexible time to pursue luxury.

Business domains such as personal home fitness (ex. Peloton Interactive, MIRROR, Hydra), wellness (ex. Society Group), fashion (ex. Luxe Leisure, Pyer Moss) and NFTs (ex. Beeple) have exceeded sales projections.

Many of the sought after items are #virtual and more “inward-focused”. Luxuries are now “rooted in escapism”, providing a “liberation from the constraints of lockdowns.”As Garelick eloquently writes, luxurious possessions provide a “talismanic comfort-another way to challenge mortality.”

Read original article here