The wealthy got bored. Not of spending (that never stops), just stuff. Because so many of them stopped being exclusive. The person with six watches, a wine cellar, and a garage full of cars still has all of that. But that’s not where marginal dollars are going.
Now they’re spending $1,500 a night at the Aman in Tokyo. Flying to a private wellness retreat in the Japanese Alps.
And attending a dinner at a restaurant without a website. Where you only get reservations if you know someone.
💎So here’s the change serious money made (and most brands are still catching up):
We’ve moved from ownership → to access
From accumulation → to experience
From “look what I have” → to “you wouldn’t believe what I did.”
The new status symbol is a story only YOU can tell.
That’s why Aman doesn’t advertise.
💎 When something is genuinely scarce, it gets imprinted in your memory. It creates a feeling that never leaves you. And it makes you long to go back.
That’s the most powerful retention tool.
Now here’s the important part for product-led brands:
Physical products aren’t dead.
But the ones that feel replaceable? Those are in trouble.
The winners are the brands that make their products feel like an experience.
💮You can see this clearly in a few categories:
Jewelry. Fragrance. Eyewear.
The top brands in these categories stand out by preserving real or perceived scarcity while building emotional worlds around the product.
💮They don’t see themselves as selling an object.
They sell identity. Memory. Ritual.
💎 So what should you take away for your business?
1/ Don’t just focus on the product: Make it about the ritual, the moment of getting it. The feeling of having it. Become what is shared with their close ones.
2/ Make your scarcity real: create limited drops, unique editions in collaboration with emerging artists (like Hermes or J.Crew is doing), and build private communities (like Rare Beauty).
3/ Your customer is your advertiser: curate and build memorable stories that only your clients can tell. And will then tell others or post about it.
I’m seeing some luxury brands restructuring in response to this.
Where are you seeing brands successfully lean into experiences right now?
