Welcome to a new episode of Business Lunch with your host Roland Frasier. In today’s episode, we delve into the current state of the luxury market, discussing its decline, consumer behavior changes, and implications for businesses. We examine factors like the pandemic's impact, Gen Z's preferences, and economic realities reshaping luxury consumerism. Join us as we explore what this means for the future of high-end brands and consumer experiences. Highlights: "Luxury is hurting; it's an indication of recession." "Brands like Louis Vuitton made the mistake that Nike made with drop culture." "The luxury brands are living in inflationary times of 2021-2022, not aligning with today's economic reality." "If you are truly luxury, you can charge luxury prices, but the market has to agree that you are luxury." Timestamps: 00:00 - Introduction to Luxury Market Trends 01:48 - Decline of Luxury and Economic Indicators 03:09 - Gen Z's Impact on Luxury Brands  04:39 - Pandemic Effects on Consumer Choices  06:12 - The Lipstick Effect and Consumer Spending  08:13 - Shift in Spending to Experiences Over Goods  10:45 - Real World Luxury Pricing vs. Value Proposition  13:58 - Business Strategies for Adapting to Market Changes  15:17 - Consumer Behavior Lagging Behind Economic Reality  17:53 - The Future of Sit-Down Restaurants and Service Industry  21:20 - Concluding Thoughts on Luxury Market and Business Adaptation CONNECT  • Ask Roland a question HERE. RESOURCES: • 7 Steps to Scalable workbook  • Get my book, Zero Down, FREE To learn more about Roland Frasier 👉  https://msha.ke/rolandfrasier/ Connect with me on social: 🎵 TikTok:  / rolandfrasier    📸  Instagram:  a...