One message from small luxury businesses is clear: marketing has never been more competitive, more dynamic or more essential to growth.

For decades, luxury operated on an unspoken agreement: If it was expensive enough, it was valuable enough. That agreement is quietly dissolving.

The global luxury business is at an inflection point where demand is strong at the high-end from an ever-growing wealthy class, and flat at the aspirational level. Throw in the ongoing geopolitical challenges and U.S. government tariffs and antipathy to tourists. Then add the tech frenemy in the mix, AI. What should luxury marketers and professionals do? Where should they turn?

Saks Global’s potential Chapter 11 bankruptcy filing – more likely than not, if the luxury retailer’s words are to mean anything – reflects a harsh reality that the industry refuses to accept: the department store model is not fit for purpose in the 21st century, and certainly not for today’s shopper.

Luxury Roundtable invites you to take our State of Luxury 2026 survey to understand where the winds are blowing in the business. Respondents who complete the survey will receive the entire report with the results and analysis.

For years we’ve heard that the term “luxury” doesn’t stand for what it was intended: exclusive, rare, high quality. Many folks want to dump the word but have no substitute. In reality, luxury has undergone a silent divergence, with three camps catering to distinct audiences.