So the exodus from luxury products and brands is coming like a bullet train. Premiere/affluent brands are faced with 'riding our a generation' or bending to demand for lower-prices.
The larger issue is that newer consumers are failing to see a need for longevity. That would require an understanding from both the brand and consumer. Those days, I'm afraid, are gone. Luxury brands are still too sycophantic to understand that celebrity does not = quality.
Moreover, fragile (or challenger) brands are too willing to change to a consumer base that sees replaceable newness as backbone of their current, albeit temporary need. There's no longer a commitment to buy something worth owning indefinitely. IKEA "furniture to be passed on" – yeah no. Target, "handmade products for a lifetime" – nope!
Cycles of disposability, due to demand for value will be forefront, UNTIL the "X" factor — something that shifts that reasoning out of pure survival and necessity, sadly it will most likely be something catastrophic. I know that sounds crazy but watch the average consumer retreat to a safe place during war, economic distress and terrorism. These moments, while jarring, are the only moments that create real instances that a buyer seek a product they know to be made to last.
What do I see as winning scenarios for the future? A hybridization of "lasting quality" marketing on appropriate products; or those products that still have vintage nostalgia. Otherwise, keep the message lean and undercut the competition with simplicity. It's sad to say this but the younger consumer is seeking quick facts at a low price and puts little to no value on heritage.