Discernment curve

In 2005, I christened this phenomenon the “discernment curve,” suggesting that growing sophistication rather than raw wealth would become the main driver of how people spend and on what. This has largely come to pass, even in faster-growing markets, driven by access to information and opinion online.

The well informed and travelled consumer is feeling a creeping ennui, seeing the same famous names in similar smart shopping streets and has a growing interest in the local, independent and non-branded.

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Consumers need to experience “craft” not just as static objects or as brand-led “fashion,” “luxury design” or “art,” but must also understand the full context in which they were made, why they are special, and meet the creators and see their remarkable skills up close.

It is the customer who matters and they are, as I always hoped they would, now voting with their wallets. Indeed, with homes bursting with stuff, increasingly, we don’t spend on things, but special moments with our loved ones. If I had to pick one word to capture this zeitgeist, it’s neither “luxury” or “craft,” but “patronage.” At its best, this more discerning spending is not only enriching our lives, but also supporting a much wider ecosystem of talent and ensuring endangered skills survive.

Guy Salter is the chairman of London Craft Week.

http://www.businessoffashion.com/articles/opinion/op-ed-from-luxury-to-craft-climbing-the-discernment-curve?utm_source=Subscribers&utm_campaign=459152b30f-&utm_medium=email&utm_term=0_d2191372b3-459152b30f-419120333?utm_source=Subscribers&utm_campaign=459152b30f-&utm_medium=email&utm_term=0_d2191372b3-459152b30f-419120333