Exclusivity and quality have traditionally been linked in the minds of consumers, but a closer look reveals that these concepts are not always one and the same. Many brands offer products that are arguably of a similar quality than their affordable counterparts, and yet, the mere prestige of their branding means that they're worth more in the eyes of consumers.

This is beginning to change, however, with Matter of Form's Luxury Report making it clear that quality is the ultimate priority among today's discerning consumers. According to this report, intrinsically airbrushed quality of luxury is dissipating, being replaced by a need for the raw and unscripted. This has been spurred, in part, by social media platforms such as TikTok and BeReal, although it's also a global shift that goes beyond the strictly virtual.

The ultimate example of this concept? Apple. For years, products such as the iPhone and AirPods have been regarded as luxury tech, even though a significant subset of the population invests in these devices. The price point is often higher than counterparts from Android, but that's not what gives Apple its prestige: rather, Apple owes its high standing to its exceptional reputation.

Apple consumers know that they can count on this beloved brand to release the most innovative, stylish products imaginable, in which every detail is shaped to ensure that user experience is nothing short of exceptional. As a result, Apple enjoys an extremely loyal customer base, with many enthusiastic consumers thinking of their latest devices as status symbols — even when, logically speaking, they're well aware that hundreds of millions of consumers own the very same products.

For many brands, quality as an emphasis is far from new. Montblanc, for example, has long been known for its luxurious, yet reliable watches and leather goods. Now, however, the brand is beginning to lure younger consumers with these concepts, emphasizing not only quality, but also, many of the traits we'll discuss later on, all while striving for an updated, urban edge. In the future, there will be a move towards well-made products, even when, aesthetically speaking, they don't always resemble the luxury finishes of yesteryear.

The concept of keeping up with the Joneses once determined whether consumers invested in high-end products. These days, however, most are far more interested in treating themselves than in impressing their neighbors. They view luxury products as the ultimate reward for their hard work.

Yes, it's fun to show these items off, but that's certainly not the main goal when investing in high-end products. Rather, luxury becomes a form of self-care — a way for customers to demonstrate that, when they're so busy giving of themselves, they are still capable of giving to themselves as well.

In the aforementioned Luxury Customer Journey survey, self-reward was the number one reason respondents cited for investing in luxury products. To that end, language reflecting luxury items' emphasis on self-reward has crept into a variety of marketing initiatives. Louis Vuitton, for example, has regularly used the phrase treat yourself in Instagram updates, which encourage followers to make the most of life's little pleasures.

As we've discussed, the luxury experience is no longer centered around exclusivity. Rather, a more inclusive version of luxury is about to take over, in which diversity is prized and actively sought after by designers and customers alike. Fashion designer Christian Siriano has exemplified this side of the luxury market by offering size-inclusive options and expressing interest in developing a line of adaptive clothing. Many other big names have followed suit by releasing adaptive-oriented capsule collections.

Gucci has also expressed a clear ambition to tackle the growing adaptive market. Rather than settling for short-term tokenism, the brand is taking a deep dive, promising to convene around important topics...disability inclusion is an important topic for society at large. This is just one of many examples of Gucci's effort to build a more inclusive brand. This innovative strategy is often referred to as exclusive inclusivity.

As consumer preferences change, the new frontier for luxury brands lies in the digital world. Already, many iconic brands have adopted advanced digital practices, such as virtual try-ons and NFTs. In the future, this will be more than a mere novelty — it will be an expected part of the luxury experience. This echoes the current preference for accessibility; no matter where they reside, customers always have the option to invest in virtual products or experiences, either as a form of self-expression or to show off online.

While many luxury brands are beginning to make forays into the digital world, this remains a huge area of opportunity. Until now, many have stuck with the status quo, as reflected in the Global Luxury Customer Journey. This study revealed that luxury fashion, in particular, was lagging with digitization, with only 16 percent offering eCommerce solutions despite this approach being more comfortable and convenient.

This slow move towards virtual may reflect, in part, the crucial role that in-person shopping has previously played in the luxury experience. Customers want to see luxury goods for themselves before they make considerable investments — and especially now that, with a more inclusive luxury market, these goods often represent special rewards, rather than everyday purchases.

While it may take some time for the new concept of luxury to truly encompass virtual shopping, there's no denying that the digital world remains important. Increasingly, traditional luxury sales are impacted by online content. As such, many luxury names are expanding their digital marketing reach. Bulgari, in particular, has demonstrated its commitment to digital outreach, having received the Genius score from the Digital IQ Index Watches & Jewelry Global ranking of digital competence.

There's no denying that the concept of luxury is undergoing a renaissance. These days, luxury isn't merely about appearances, although, of course, aesthetics clearly remain important. Rather, luxury depends on quality and personalization. This opens the luxury market to a new generation of consumers, who will be even more enthusiastic about — and loyal to — their luxury brands of choice. Brands that capitalize on this trend have the unique opportunity to position themselves not only as disruptors, but also, as the most influential luxury names of tomorrow.