2017 predictions for the Luxury Industry: adapt to succeed.

It has become increasingly clear that we are living and working in an environment where it is hard to foresee what happen next. In a difficult economic climate, luxury retailers will have to ensure they invest wisely in their people and practices in 2017, according to a recent report published by Diana Verde Nieto in the luxury society.

In 2017, business rather than government has the chance to lead societies forward. Businesses should focus on building a progressive, inclusive vision for the future: a quality that will be needed in 2017. By taking responsibility for the way they conduct business, luxury companies can hedge against unstable economies, geopolitics, and a faster and faster production schedule. Beautiful product will always be crucial to a luxury company’s success. But companies which can also exemplify innovative, socially aware values through their purpose-driven offerings will find themselves anchored amidst 2017’s political, technological, social and economic changes.