How the Luxury Landscape is Entering a New Era

As a result, the luxury industry has seen clients leaning toward a quieter form of personal expression. Indulgence has become more selective, more inward-looking – a state of refinement measured not by what you acquire, but by how you choose to spend time and devote attention.

“It’s the opposite of conspicuous consumption,” says Ana Andjelic, brand strategist and author of The Sociology of Business newsletter. “Today, the true class distinction is behavioral, social and psychological. It’s reflected in nuance – in taste, knowledge, and how you live, rather than what you own.” In other words...