If the pandemic has taught us anything, it’s a new concept of what luxury in our home means. Immaterial opulence is, according to some recent studies, the trend that dominates at the moment and that makes consumers discard the traditional indicators of wealth and adopt new forms of luxury more related to well-being.
And while all this movement of moveable prefabricated houses would lead one to believe that humanity will return to nomadism, the truth is that some estimates seem to say the opposite. A United Nations report projects that more than two-thirds of the world’s population will inhabit urban areas by 2050.
In short, the answer is both yes, and no. What does that mean? Much of humanity will retain its urban essence but, thanks to the flexible and open approach to a globalized world of the new vision of luxury, this will have such a renewing impact that it will put an end to the sedentary materialism of excessive consumption.
The brand of designer and high-tech faucet and showers AXOR, commissioned the London-based consulting firm The Future Laboratory to conduct extensive research into the trends that define ‘compact luxury’. The report called “AXOR’s Inspiring ‘Compact Luxury’ White Book” (see the report) reveals three trends that will change the idea of luxury forever.
Liberated living, immaterial opulence, and conscious well-being are the three markers of the new conception of luxury. And at this point, you’re probably wondering what that means. Here is a step-by-step explanation.
Step 1. Tell me how much freedom you have, and I’ll tell you how rich you are
According to this report, in the future people will perceive the ability to live a nomadic and agile lifestyle as a luxury. The study explains that an interesting finding was that respondents understand that moving seamlessly from city to city is an essential element for the luxury consumer. In response to this, homes with minimal design and multi-functionality will be increasingly desirable.
This means that the design of the different rooms of the house will be redefined by making perfectly sufficient spaces rather than excessive ones. In other words, the new notion of compact luxury favors a simple rather than a superfluous approach.
Step 2. All for one, one for all
The second trend indicated in the “Inspiring ‘Compact Luxury’ White Book” is related to the adage that says, “those who need the least have the most.” While the previous step notes that opulence will no longer be related to square footage, the report explains that the new luxury spaces will need to be multifunctional and multimodal, serving many different purposes at once.
However, these compact spaces must also meet another requirement: customization. Making a room fit your values and interests will be a luxury you’ll pay for without much thought.
Step 3. Planet-friendly as a symbol of luxury
In this step, the younger generations are leading the way. Their re-evaluation of the concept of luxury, prioritizing lifestyles over material property, will make the definition of ‘high-end’ continue to evolve. In this sense, the aforementioned “conscious well-being” translates into consumer concern for having spaces in urban life that support individual and collective well-being.
That is why the report explains that the trend will be quite simple interiors where furniture, objects, and especially sustainable and low environmental impact appliances that can be individualized will predominate. So, what’s deemed planet-friendly or eco-friendly will be a symbol of luxury and high-end consumers will increasingly link personal satisfaction with low environmental impact products that improve collective well-being.
Are you ready to be part of the compact luxury trend? (read also Discover why architects are the superheroes of climate change).