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Luxury Brands Cost of Living Agency Leadership

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?

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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.

Luxury Brands Cost of Living Agency Leadership

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,...

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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,...

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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...

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