The Quiet Luxury Trend
In the midst of difficult economic times, rising inflation and some of the highest interest rates in decades, it easy to say that consumers in the US are under pressure. From groceries to gasoline to electricity, costs are up across the board and families in the US are definitely feeling the pinch. The leather goods business is not immune to these effects. I’ve personally seen my orders slow down the past year while the costs of raw materials has increased.
One trend that is currently appearing in the US economy is the Quiet Luxury Trend (its also sometime called the ‘Stealth Wealth’ trend) and in may be a direct result of the tightening in the economy. It generally refers to a shift in luxury item purchases away from flashy designer logos or traditional high end brand names in favor of less flashy, more understated items and more thoughtful shopping. It has also been described as avoiding flashy brand logos and focusing more on the quality of an item and whether or not it fits your lifestyle. The quiet luxury trend also has been described as still using expensive materials but in muted tones or less flashy ways. Some analysts have even claimed that this trend is partially driven by the wealthy looking to avoid flaunting their wealth at a time when many others are struggling to pay the bills and living paycheck to paycheck.
So does this effect leather workers?
So how does this trend away from flashy luxury affect the business of most leather workers? Maybe not much and it really depends on who your target customers are. If you are a saddle maker and much of your business is saddles and working gear for cowboys, you probably won’t see much effect. If you are making high end notebooks, wallets and handbags (like much of my business is) it could be an issue. If people are not looking for flashy luxury leather items it may make some of our customers think twice before they purchase a fully carved leather handbag or bifold wallet.
There are a couple of ways you can approach this trend. You can make more muted and less flashy versions of your standard products. Maybe you use less flashy hardware or a more subtle leather to make your item. In my case I’m exploring items that have less carving and focus more on the quality of the leather. I’ve got a clutch wallet in the works now that fits this bill. Or maybe you continue doing things they way you have been. If you have established a customer base already they most likely come to you because of the style or look your leather work has now, and they are more likely to choose your work because they know your quality and will pay for your work. So you wouldn’t want to alienate these loyal customers just because of a current hot trend.
Perhaps the best approach to this quiet luxury trend is to experiment with more subtle items. That’s what I’m trying now with items that focus on the luxury look and feel of the leather instead of the intricate work of the carving or stamping. But I won’t be giving up leather carving. I’ve already got enough orders for carved items (plus a few cool ideas I want to try) to keep me busy throughout the summer. And then we’ll see what new fashion trend comes around the fall.
