The headline above was the advice to luxury and retail brands offered by Alexandra Wilkis Wilson, co-founder and chief merchandising officer of Gilt Groupe, speaking on a panel, “The Luxury Market and the Web.” The event was hosted by Goldstein Communications in New York on Tuesday.
Other panelists included Lauren Indvik, assistant editor, Mashable; Tony Sardinas, VP and Managing Director, Modern Luxury LLC; and Cynthia Lewis, publishing media executive. The event was moderated by Stevan Schwartzenberger , account executive, Goldstein Communications.
The definition of luxury has evolved and is hard to pinpoint today, according to Lewis. “Now luxury has become more democratized. Typically luxury was viewed as an indulgence and not a necessity, but it has become more personal as we see what consumers are willing to spend money on,” she said.