by Christophe Cais
Founder and CEO at CXG and Forbes Council member
The article below is originally published on CXG.
CXG, the global leader in customer experience consulting for the luxury sector, has just released its new annual study on luxury market trends 2026: “Key Themes Driving the Future Luxury Market, 2026 and Beyond.” On the occasion of its 20th anniversary, the study decodes the ongoing transformations shaping the future of luxury for Culture Élite.
Culture Élite: Luxury was long centered on the product, then on marketing. Where are we now?
Christophe Caïs: We are entering the experiential and relational era. The product alone is no longer enough; it must be elevated by service. Some Maisons bundle insurance with their products, others develop concierge services. Even at Hermès, where the product remains the absolute foundation (it’s no coincidence they are opening their 29th workshop in France), this additional layer has become essential. What we see in our study on luxury market trends 2026 is that the brands outperforming the market are those that successfully combine artisanal heritage with experiential innovation.
Your study highlights increasing market polarization. Is that the dominant trend?
Yes, and it’s structural. On the one hand, the ultra-wealthy continue to drive demand. The silver generation, in particular, holds more than 70% of available wealth and favors exceptional craftsmanship and transformative experiences. On the other hand, aspirational consumers are disengaging, and accessible luxury is under pressure from younger consumers who are redefining the category around sustainability and digital. Brands must navigate both worlds simultaneously, and most are not equipped to do so.
And within this context, there is a major blind spot: the “core” clientele, between VICs and aspirational consumers. These are engaged, loyal clients who spend and receive almost nothing from brands. The impact could be exponential because they are not accustomed to receiving attention. And among them are future VICs. Brands cannot afford to overlook them.
How do you measure the in-store experience?
We have over 85,000 evaluators who are genuine luxury consumers. That’s essential: someone who is not used to luxury will not see things the same way as someone who walks into Hermès every month. Our evaluators notice what others don’t. And the results are clear: between an acceptable and an exceptional experience, the multiplier on purchase intent is x5. Yet brands spend 5 to 10% of their revenue on marketing to drive traffic, while investing very little to ensure the in-store experience delivers on the promise.
What defines an exceptional experience, in concrete terms?
A sales advisor who does not feel like they are trying to sell to you. Someone who prioritizes the client’s needs over their margin. The transaction will follow naturally as a consequence of that encounter.
What does a store that truly performs look like?
It’s a team, above all. The most beautiful store in the world, with the finest products, will fail if the team does not work well together. Selling in-store is like a ballet. It requires trust, passion for the product, and a genuine desire to please. If you are not generous, you should not be in this profession.
What differentiates a salesperson generating €2 million from another?
Time. It’s someone who has built their own client base, people who trust them. Their logic is simple: sell less, but better and ultimately more. These top performers are often not even in-store. They are with their clients on birthdays, on yachts. They know the family, habits, and key dates. The relationship is symbiotic. The average salesperson, on the other hand, wants the client to leave with a shopping bag. That’s not how you build a client base.
Are VICs starting to feel fatigued?
Yes. Some VICs tell us: “My biggest problem is choosing which event to attend.” There is a saturation effect. It is very difficult for brands to continuously reinvent themselves. But there is an interesting shift: some Maisons no longer rely solely on purchase history to grant VIC status. They identify potential. For example, identifying someone in tech who is about to sell their company and move from millionaire to billionaire becomes an interesting prospect, even if they have never bought from you.
What mistakes do you most often observe in-store?
The main one: trying to sell. And it’s not the salesperson’s fault, it’s the system. KPIs remain transactional: conversion, average basket, UPT. Relationships are not measured.
Then there is poorly used technology. Some sales advisors send up to 10,000 messages per month through clienteling tools. Zero personalization. Clients feel it immediately. When automation replaces sincerity, everything is lost.
And then there is this question, the most value-destructive in retail: “Can I help you?” The answer is always the same. The first job of a salesperson is to listen, not to speak.
“When automation replaces sincerity, everything is lost.”
68% of clients would follow their salesperson if they changed brands. A real risk?
Absolutely. When there is a change in artistic direction, it’s not only clients who react, teams do too. We are regularly contacted by sales advisors who say, “I no longer identify with the new direction.” And when a store manager leaves, their clientele can leave with them.
What makes a product iconic?
Three things. First, it must be instantly recognizable, without ambiguity. Second, the storytelling built around it, amplified over time. And finally, the clients themselves: those who access these products create an aura that reinforces everything else. This is exactly what we have observed in our study, jewelry and watchmaking outperform other categories because they combine these three dimensions. A Birkin or a Nautilus functions like an asset. Clients also buy them for value retention.
Has the controversy around Chinese manufacturers impacted the perception of luxury?
Interestingly, Chinese consumers were the least affected. They know very well these manufacturers were producing low-quality counterfeits ten years ago. The only brand that reacted was Hermès, by announcing the opening of a new workshop in France without referencing the controversy. The timing may not have been coincidental.
Why is hospitality outperforming fashion?
Unreasonable price increases have created a disconnect between price and perceived value. Some clients have redirected their spending toward experiences. Hospitality is innovating wellness, longevity, and creating new concepts. It is more natural to ride this wave when you are in hospitality than when you produce trunks. Longevity is one of the ultimate luxuries. For brands like La Prairie, it’s a no-brainer. But for fashion houses, the path is more complex, they will need credible partnerships.
Is Chinese live selling compatible with luxury?
No. Sales advisors working six hours straight on streaming platforms are the opposite of luxury’s temporality. Luxury is about time. Asking a client to wait for their Birkin is what creates desirability. You cannot walk out of a dealership with a Ferrari, it’s not a factory, it’s a workshop.
“Luxury is about time. Making a client wait for their Birkin is what creates desirability.”
Between Dubai, Shanghai, and Paris, how do expectations differ?
There is a common foundation: value retention, the notion of heritage, and transmission. It’s no coincidence that Patek Philippe has built its communication around this. Then come the nuances: Chinese clients value speed and digital, Emirati clients expect personal and tactile relationships, and French clients seek elegance and validation of heritage.
What we see emerging in our study is India, Southeast Asia, and the Middle East as new growth drivers, fueled by young ultra-wealthy consumers who demand localized luxury adapted to their codes. The brands that succeed will be those that balance global consistency with local relevance.
One piece of advice for brands in the years ahead?
Intentional growth. The market may grow at 25%, but a luxury brand must be able to say: we will grow at eight or ten, because that’s what preserves quality. Short-term shortcuts always end up damaging it.
I always share this story in seminars. After arriving in Hong Kong at 8:30 AM following a night flight in economy, my meeting was scheduled for 10 AM. When I asked for a room, none were available. So I decided to go for coffee. The manager appears and offers to personally refresh a recently vacated room so I can take a shower. Everyone assumes I was at The Peninsula. I was at an Ibis hotel. That day, that manager did something that was not in his job description. And I returned to that hotel for years. That’s experience.
CXG is celebrating 20 years. In 20 years, what will luxury look like?
Luxury will still exist. But the brands that remain will be those that understand one thing: you don’t sell luxury, you create connections. The product, the store, the technology are only means. The only thing that matters is what the client feels when they walk in, and what they feel when they leave. The day a brand forgets this, it has already started to die.