The Luxe to 2011 report - from trend analysis group Style Vision - singles out faux design by celebrities and the 'tyranny of it-bags' for criticism.
According to the report, fatigue is the great challenge for marketers, designers, retailers and investors. It suggests that marketers need to find creative routes to achieve a brighter future in the luxury market.
"In our 24/7 world the cult of instant gratification means many of us have lost the ability to wait. The 'now' culture of mobiles and laptops convinced us that if we do not have everything on our fingertips we will immediately transform into one of these impatient, red-faced people cursing each lost millisecond," the report said.
According to the report, waiting in itself has become a luxury because 'it gives an opportunity to learn'.
The research points to the enduring power of elegant design and points to the example of Breguet's watchmakers who spent months assembling the 823 parts of the new Marie Antoinette, an exact replica of the timepiece created for the French Queen. Other trends identified in the report included a return of 'solid' materials such as gold and wood and a renewed interest in the pleasures of everyday life.
The report comes amidst growing unease by analysts at the increasing propensity of companies to use the 'credit crunch' as a byword for poorly performing products and fundamentally flawed business strategies.
.jpg)
.jpg)