Jared Gordon (Faculty of Change): Inside the Mind of the Wealthy

Luxury brands may be misreading their most important customers, according to a new research report by Toronto-based consultancy Faculty of Change. The report, titled “The Secret Language of Wealth Your Company Isn’t Speaking,” dives into the shifting mindset of high-net-worth individuals and uncovers a surprising insight: luxury retail is increasingly failing to deliver the one thing its customers value most—status.“Everything is about status,” said Jared Gordon, Managing Partner at Faculty of Change. “People don’t talk about it openly, but that’s ultimately what drives behaviour, especially among affluent consumers.”Interviewed this episode:Jared Gordon, Managing Partner at Faculty of ChangeFaculty of Change This podcast is the audio version of the The Interview Series video podcasts by Retail Insider Canada are available through our Retail Insider YouTube Channel where you can subscribe and be notified when new video episodes are available. Subscribe, Rate, and Review our Retail Insider Podcast! Follow Craig:LinkedIn: www.linkedin.com/in/CraigPattersonTorontoInstagram: @craig_patterson_torontoTwitter: @RI_EIC Follow Retail Insider:LinkedIn: www.linkedin.com/company/Retail-InsiderFacebook: https://www.facebook.com/RetailInsider/Twitter: @RetailInsider_Instagram: @Retail_Insider_Canada Share your thoughts!Drop us a line at [email protected]. You can also rate us in Apple Podcasts or recommend us in Overcast to help more people discover the show!Background Music Credit: Hard Boiled Kevin MacLeod (incompetech.com). Licensed under Creative Commons: By Attribution 3.0 License. http://creativecommons.org/licenses/by/3.0/