And After the Plague came the Renaissance

Maximalism is back (or it should be). Despite this great slowdown, who doesn’t miss a little opulence and excess. But what if it never returns? Who knows what the consumer will feel like after the Covid experience.

There is a big argument that in the post COVID 19 world that consumer tastes will be characterised by minimalism, simplicity, and a sort of depression era sparseness in the approach to clothing tastes and consumption.

On the other side, there is an argument for the pendulum swinging the other way. People will want party dresses, over the top clothing, glamour and fun (as they have been stuck inside their houses for so long). Looking to China, the term ‘revenge spending’ has been thrown around. This suggests that consumers will spend on luxury as a ‘revenge’ for the time and experiences taken from them during COVID. However, this phenomenon has yet to occur in real life.

Of course, with the expectations of a worldwide recession/slowdown, discretionary spending will be compressed and reduced across the board, but we can still expect a bounce back in spending somewhere in 2021.

So what will it be? Perhaps a personal choice. Perhaps some consumers will feel frugal, and sombre. Perhaps others will feel like partying and spending. Likely, it will be a mix of both. For some, COVID has caused them to retreat psychologically. The world has become smaller, simpler, and easier, and that is just fine. Others cannot wait to get back (metaphorically) to drinking, smoking and partying, in whatever form that is for you.

I, for one, am a believer in maximalism, celebration, and opulence. There is a reason I spend half of my time living in Italy, and am a deep lover of sparkles. I believe consumers will consume less, but be more particular about what they consume. I believe as consumers become more conscious, brands will be expected to produce less, but be more ‘on brand’ with everything they produce. Lastly, I believe as consumers become more intentional and focused on local goods, they will be more willing to spend more for at home or nearby production (in particular in the US), or on goods where they can see the human input. Brands (outside of Kering and LVMH), will become smaller and more compressed, and with a true focus on catering to their customer niches (whoever those might be).

However, I believe there may be cause to celebrate. People will go out less, but make more of an event from these outings. People will want to dress, live, and enjoy. It won’t be the excessive maximalism of the past (consumption and opulence for opulence’s sake), but for those who can, we will dress because we have cause to celebrate.

You may not agree with me, but one can dream. Only Q1 2021 will tell.