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Marketing Agency Leadership Luxury

The Drum Network podcast: How can luxury brands navigate the cost of living crisis?

By The Drum Network | Staff Writer

November 23, 2023 | 3 min read

In the latest episode of The Drum Network podcast, we gathered experts in high-end brand marketing to ask what luxury looks like in 2023.

A man in a sleeping bag in front of a Prada store

How can luxury brands market themselves during the cost of living crisis? / Max Böhme via Unsplash

Luxury brands have made some surprising pivots in recent years, from surprising collaborations with digital creators to integration into gaming environments.

The last few years have also brought some distinctive macroeconomic challenges: global cost of living and supply-chain crises. These phenomena squeeze purses, affecting the market for high-price-point products, but they also pose a reputational challenge for premium manufacturers. Is it problematic to advertise luxury goods when so many are struggling? Do those difficulties at least change the rules for brands in this space? Is luxury in a tough time a welcome treat or a garish reminder?

That’s what our panel is discussing in this week’s episode of The Drum Network podcast.

Regular host Niki McMorrough – herself an alumnus of luxury brands including Bentley – is joined this week by:

  • Joanna Hughston, head of marketing, The Goat Agency

  • Sarah Keeble, new business and marketing director, VERB (part of Croud)

  • Paul Stanway, senior vice-president and executive creative director, XYZ, a 160over90 company

For more earworms, head over to The Drum’s podcast hub.

Marketing Agency Leadership Luxury

Content created with:

The Goat Agency

We’re the leading global social media marketing agency powered by influencers. We pride ourselves in bringing together data-led performance, real human relationships, expert creative strategy, authentic, engaging content and laser-sharp paid media targeting.

We have tracked the performance of over 200k influencers and 450k pieces of content, growing to 200+ staff with three global hubs in the US, UK and Singapore in just seven years!

As a result, we have worked with, retained and scaled some of the biggest brands globally, delivering best-in-class social campaigns that drive trackable ROI and ROAS in over 70 countries and 28 languages.

Find out more

Croud

Croud is a global, full-service digital agency that helps businesses drive sustainable growth in the new world of marketing. With a rich heritage in performance, we apply that mindset to everything we do; brand planning, strategy, integrated media, social, creative, and data.

Founded in 2011 with the mission to reinvent the agency model, we combine 500+ in-house digital experts with a global, on-demand network of marketing specialists. This agile, scalable model gives us more time to really understand our clients’ businesses, and deliver truly incremental growth.

Part of the Croud Group, which also includes luxury specialists VERB Brands and social-first agency Born Social, Croud is proud to partner with leading global brands, including Audible, Vans, IWG, and AllSaints.

Find out more

160over90

160over90, part of the Endeavor network, is an award-winning cultural marketing agency that elevates brands by creating ideas for the world to obsess over and shared moments where people feel something real. With 800+ thinkers, doers, and makers across every cultural corner of the globe, the agency offers a full-service, channel-agnostic approach and a deep connection to the people, places, and properties that drive the conversation of tomorrow. Turning fans into fanatics for companies of all sizes, 160over90 works with leading brands including AB InBev, DP World, Marriott International, USAA, and Visa.

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