It's Dying! The Luxury Economy And The Pre-Loved Market.

I discuss if the current international economic situation is taking a toll on the luxury market. Are people buying less? Is the pre-loved market in free-fall?
#livingluxwithmeredith #luxury #luxuryhandbags #luxuryeconomy
Instagram: living_lux_with_meredith
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[@erinnadia0409]

My luxury spendings changed from day to night. In 2021 I bought 8 handbags which is a lot of me. Last year I bought only 1 and so far in 2023 I've only bought a pair of Chloe shoes and second hand Chanel espadrilles. The cost of living has made me rather keep my savings and continue to add to that fund over getting a new luxury item. I love luxury so much still and love watching videos but I'm very grateful for the items I have. Also travel is back 😂😅

[@livingluxwithmeredith]

Thanks for sharing your perspective Erin!

[@LisaSoulLevelHealing]

Travel is taking a significant market share.

[@DaylesAddiction]

The irony is that now it’s a buyers market and nobody has the funds to buy 😭😭😭

[@ChatsWithChris]

😞

[@livingluxwithmeredith]

Yep, we see all the things we want but need to be smart so don’t buy them….it sucks!

[@silkbuttons]

How is it a buyer’s market? You mean second hand?

[@DaylesAddiction]

@@silkbuttons yes

[@kit6328]

even prior current economic impact... I am not a trend follower or luxury spender. I am in my late 40ish(lives in NYC), but proud to say I spend/invest my money wisely and owned two properties. I only buy what I LOVE, and what suit my life style. I own quite few luxury item, but I will not spend all my hard earn money on every new releases. 😊 very interesting topic

[@livingluxwithmeredith]

Thank you for sharing!

[@BM-tt6qx]

Smart thinking!!!

[@pattywilliams788]

I didn’t find this discussion boring at all, Meredith. I found it very helpful and it has made me rethink some of my goals for entering the luxury market. I’m no means close to Chanel, Hermes or the Dior level, but I have aspired to some brands that I felt were attainable. I’m thinking differently and I feel that I will take a wait and see attitude. I’m glad that you did this because I can shake off the feelings angst that I’ve been experiencing. Instead of trying to get a luxury handbag, I’ll try for a luxury fragrance. Yeah, I like that, lol. You rock, Meredith!

[@livingluxwithmeredith]

Thanks Patty! It’s always good to test the waters with smaller items especially when the economy is so unstable.

[@jacquelinemoss1911]

Gen X 🙋🏼‍♀️ I remember when a million dollar house was only for the super wealthy “millionaires” It’s so crazy how a million dollar house is just an average house these days 🤯Very interesting video Meredith 👏🏼

[@livingluxwithmeredith]

Absolutely. Growing up we all wanted to win one million dollars! Now that wouldn’t even buy a house outright 🤦‍♀️

[@tippytoe1250]

My little boy asked me if I win a million dollar will I go buy a new home. I told him no, he already lives in close to a million dollar home. Should have seen his face. Yes, in our area a million doesn’t buy a luxurious fancy house. 😂

[@amybrando2585]

So true!! A million dollars was everything to us Gen xers.

[@jacquelinemoss1911]

@@tippytoe1250 Hahaha so much to learn 😂 Gosh I’d hate to hazard a guess as to what they will be priced at when he’s older😲🤑

[@seabreeze4559]

chinese parking money into london too, also russians

[@AutumnBeckman]

I appreciate your intelligent thoughts on this. I've talked a few times about why we have no intention of buying a home and would rather rent. So many factors to consider and the people who disagree with me never discuss all the taxes and maintenance costs of owning and how that eats into profit if you sell. Plus, you never truly own until the house is paid off so that investment can be seized if you run into hard times, like many people are doing now. It's an interesting conversation. My LV sales associate has echoed what you're saying...people aren't walking into the stores as much to buy so associates are relying on their client lists and if they don't have clients already, they're not doing well.

[@livingluxwithmeredith]

Thanks for your insight Autumn. Owning property is a huge focus in Australia though it seems redundant with rising costs. I agree, any SA that doesn’t have a great client list is going to struggle!

[@joannasliwa8147]

Hi Meredith! I believe that owning your own place is the best luxury . I saved for some 12 years to buy an apartment in Paris ( been living there for some 20 years ). But yes in my country of origin - Poland we still have a post-communist culture to rent it . Thanks for sharing .

[@livingluxwithmeredith]

I absolutely agree! Owning property is a true luxury.

[@JenniGower-eb9dx]

As I said to Dayle on her video I am struggling at the moment. It is from another medical situation that has arisen from my surgery but not my spine so I was so happy to see you had put up a video totake my mind off it . If only for a short time. A very interesting topic which you covered so well. You are so down to earth , honest and the loveliest person. So thank you for bringing light to my day lovely Meredith. Much love. Jenni. XX

[@livingluxwithmeredith]

Thank you Jenni. I’m so sorry to hear you continue to experience medical issues. I hope your doctors find a solution for you soon xx

[@cherpeters8775]

I enjoy your thoughtful commentary, Meredith. Big thumbs up from me! Congratulations on hitting 7,000. Here's to the next 7K!

[@livingluxwithmeredith]

Thank you so much 😊

[@ChatsWithChris]

I really enjoyed this video and truly hope this conversation continues on other channels in a meaningful way.

[@livingluxwithmeredith]

Thank you so much Chris

[@devincristopher3]

i have definitely changed my perspective on luxury over the last year with everything going on and i have been priced out of luxury handbags wich was my thing, i still like designer shoes/belts but leaning towards more understated luxury now and only for special occasions❤

[@livingluxwithmeredith]

Thanks for sharing Devin

[@nealanderson7475]

We are entering a recession in the US and will be in the thick of it in the late summer. Retail is slow, gas is high, groceries are outrageous. With the current prices of luxury items, it really makes you stop and think. Is it worth it? Will I enjoy it that much? How much will I use it? Questions that you may not have once had.

[@livingluxwithmeredith]

Thank you for sharing!

[@tippytoe1250]

Yes I’m in southern CA. I will not be buying anything that isn’t necessary. It’s sad we’re going to start to see people lose their homes and cars. I remember how it was back in 2008. A lot of people I knew lost their homes.

[@Cherrysmith2809]

As of October 2023, the U.S. is not in a recession. The economy is growing, interest rate hikes are reaching a plateau, and if there is a recession ahead, it is predicted to be mild by most economists. Some of the unfounded doom and gloom is misinformation coming from the political right, for political gain. While we are in a post COVID correction phase, we do need to stay the course however.

[@mbelieve9919]

For me, a combination of factors has decreased my interest and consumption in luxury, though I have not stopped shopping completely. It included getting bigger interest for saving money; luxury prices rising,; and overall economic uncertainty.

[@livingluxwithmeredith]

Thank you for sharing

[@hannahdavies3646]

I really enjoyed this video, the recession we are heading into and the different effects its having on everyone is a very interesting topic. I would love more videos like this 🤗 I love all the content you put out!

[@livingluxwithmeredith]

Thank you so much 😊

[@MegaDbaum]

Yes! Sad to say the level of service at the luxury brands is also changing. Louis Vuitton has horrible service now and they don’t seem to care or even understand that when people are spending money they expect a certain level Of service. All they are serving lately is attitude. Had such a recent poor experience online and in store..really making me question my choices

[@livingluxwithmeredith]

That’s terrible. I think it changed store to store and even SA to SA.

[@ChatsWithChris]

I honestly haven’t been saving or buying my rent is to high. Without disclosing too much information I can say without a doubt my relation to luxury has shifted dramatically this year. But I have always had periods of time where I can and cannot afford luxury so I’m not discouraged by this all. I work in tech and I’ve survived a number of layoffs until it’s stable again I’m not splurging.

[@livingluxwithmeredith]

It’s good you have the reflection you do and can make adjustments accordingly.

[@ClaireLouiseLuxe]

Here in the UK it was expected we would go into recession in 2023, but due to a slight growth in the economy over the last few months we haven’t, and now the Bank of England doesn’t think we will go into recession this year. However our economy is expected to shrink again slightly so we are not out of the woods. Whatever the official figures though, we are feeling the pinch and our energy and food bills have sky rocketed recently - the basic cost of living is still going up. I have seen a definite slow down in buying and selling on the pre-loved bag groups I’m in - like you say really rare items or real bargains are being snapped up, but a lot of lovely reasonably priced items that would usually go quickly are not shifting 🤔 xxx

[@livingluxwithmeredith]

Thanks for sharing Claire!

[@lesliecraven3087]

Buyers market. I really enjoyed hearing the local Sydney/ Australian perspective I’m from the US and the same thing is happening here. Interest rates are rising. I think the housing market is flattened.

[@livingluxwithmeredith]

Thank you for sharing! Yes, I think we’ll see a real plateau in the property market.

[@xmochix604]

I'm still buying! BUT i make sure to sell what I dont want or use first. This is key to not dip into savings, being wise with finances, and not letting the collection get out of control.

[@livingluxwithmeredith]

It’s important to have a plan for your own collection

[@brononymousrex]

Love this video! It’s great to see you branch out of unboxing/haul videos. Let’s keep the dialogue going. Does this shift make you think differently about your collection? I know you mentioned a shift in priorities (and you have a big collection already), but has it started to make you think twice about buying more/being more selective with what you do buy?

[@livingluxwithmeredith]

Thank you. My feelings about adding to my collection are always fluid. Most of the time it comes down to the collections and how interested I am in them though.

[@sobe3328]

This was a great video, I have stopped buying luxury items. Maybe I should check the preloved market and try to find a Chanel bag at a reasonable price. 🤞🏼

[@deborahcurtis1385]

Watch out for superfakes. Only use a site that favours buyers so you can get your money back if a fake.

[@livingluxwithmeredith]

It’s certainly a great time to buy!

[@joyLoveC]

Very interesting video, Meredith, especially hearing how people feel through your polls 👍🏻👍🏻👍🏻

[@livingluxwithmeredith]

Thank you 😊

[@maggiehuang5049]

Thanks for this video, Meredith. I really enjoy listening to you talking about economic and business. Please share more videos like this.😊

[@livingluxwithmeredith]

Thank you 😊

[@rhondafrazier8205]

Excellent video! The economy in the states is a mess as well as the political situation. People that have money are taking a pause in their luxury purchases. My husband and I are spending a lot of money traveling these days. We are choosing to do that with our money. Also looking to buy a second home. So, luxury is definitely not on my radar. I have the bags and jewelry that I wanted. We are just focused on travel experiences now that we retired from our professions. I love your Chanel. Please keep doing videos such as this one. ❤️

[@livingluxwithmeredith]

Thank you so much, I appreciate you sharing your thoughts

[@BM-tt6qx]

Traveling - that experience is priceless and buying real estate is definitely a much wiser choice!!

[@azi-reviews]

I agree .. we even see that here in US .. me and my husband are dentists , and patients are telling us they dont want to restore their teeth because they either don’t have money or dont want to spend their money on fixing their teeth 🦷 like they rather pull the tooth than to fix it because they need to save money

[@deborahcurtis1385]

A lot are trying riskier options like medical tourism, but they don't realise the risks. Some dental surgeries are partnering with loan agencies to allow time payments. All dentists I know are feeling it.

[@livingluxwithmeredith]

Thank you for sharing. Is the cost of dental like the cost of medical procedures in the USA? Your health system is incredibly expensive.

[@azi-reviews]

Yes it is .. and insurance doesnt really have a good coverage for dental work .. medical is actually in a better situation than dental

[@JillMaurer]

Loved this video Meredith. My Hermes store still doesn't have any handbags on the shelves. I hope that changes soon.

[@livingluxwithmeredith]

Thanks Jill. Really?!?! That’s surprising

[@artsandbarts360]

💗Meredith, this was the most outstanding video on this topic anywhere on the internet!🙌🏻💗🙌🏻You are a godsend to this luxury community, as you are the absolute best, so genuine, intelligent, honest and caring and you truly love luxury and what you purchase!💗……Throughout my lifetime thus far, I have experienced differing aspects of luxury, first as a fashion model, 😎Secondly, after acquiring my bachelors and masters degrees to becoming an arts educator,🎨 and also thirdly currently as a decorator/designer….The fashion model aspect was viewed mostly for the upper wealthy clients, and still is for my friends who continued on in the modeling industry……as an educator I was able to see the creative part of fashion and luxury which is so fabulous, and as a decorator designer, my clients are always sharing their lux purchases with me, which interestingly many have gone recently to vintage and or collectible /rare new bags and lux pieces. They also shared that they are thankful they were able to get their luxury bags years ago and keep them,when quality and cost were much better. Thank you again Meredith, for all that you do, 💗💗💗many of my clients watch you and have shared with me that they have stopped watching the ‘fake’ dishonest luxury KZbinrs who they say may have started out with true passion for lux bags, but then became imposters. …….As an educator myself personally, I am very proud of you and all that you represent🫶 god bless🙏🏼💗…….ps can’t wait for your next unboxing as well😉🥰

[@deborahcurtis1385]

So interesting that some high end buyers are noticing the decline in quality and going for vintage. I get ads for luxury auction houses and those get high bids, it's more that other sites like eBay are feeling it. JIMO

[@livingluxwithmeredith]

Thank you so much 😊

[@bamagurl3242]

Yes definitely an impact for the worse in my country. I can still buy but I have slowed down a little bit. Interest rates went up another 25 points today. I don't like the way it is headed!

[@livingluxwithmeredith]

Yes! Interest rates are certainly causing extreme financial pressure for so many people!

[@fromparistohamburg917]

Last Friday, I went to LV to see the new releases. I had to wait out of the store as long as during the Christmas time!?!? In the store, it was really busy. In my back, the line became bigger. And I could see a lot of customers with several big/huge orange boxes. At the new Hermès store, same scenario. As you said, many people don't feel the need to change their shopping activities and their spending habits at all. For me at the moment, the biggest issue is not the huge inflation in Germany (even if it's a big issue for sure) but the war in Ukraine. I don't feel comfortable with spending money for luxury goods knowing that the Ukrainian population is struggling hard with the living conditions in Ukraine or abroad as war refugees.

[@annabiggs2534]

Lining up is not a luxury experience. I refuse to queue. I’m spending a lot of money , I want the champagne and the service or I’m not parting with my money. Also I agree, none of this is important when wars are occurring.

[@livingluxwithmeredith]

Thank you for sharing. Yes, I imagine the war would definitely have an impact. It’s something we’re removed from in Australia so we don’t experience the impact.

[@deborahcurtis1385]

Makeup looks incredible! A lovely softer look and perfect with the black lace. Great to see this relevant discussion. I had to close off from watching luxury unboxing because they just felt irrelevant to me. JIMO but I didn't get the oversized LV range. I've been shopping my own closet, repairing, fixing, getting organisers to improve bag shape and practicality etc. for years.

[@livingluxwithmeredith]

Thanks for sharing! It’s great to look at what you have and seem to improve it and really use it!

[@annabiggs2534]

I don’t think it’s dead. People buy what and when they can. I have a 17 year designer collection, mainly Chanel focused, which I adore. I buy as and when. I prioritise my financial goals, home (owning in Eastern suburbs Sydney is outrageous), my partner etc but I choose to spend on luxury. This year I haven’t gone too crazy but I’m going to Europe soon so planning on shopping there. I don’t go beyond my means, but I still shop. Caveat, I’m from the UK, if I spent as much on a house in UK, I would have a mansion, butler, horse etc. here I have an apartment. It’s appalling that millions of dollars here only gets you tiny Sq footage. It’s soul destroying.

[@livingluxwithmeredith]

Thank you for sharing. The Eastern Suburbs of Sydney are incredibly expensive and as my husband is English I know how much more you could get in the UK. Prioritising is really the only way to ensure we stay on top of everything

[@DaniefromCanada]

In Canada we are in a recession for sure. The cost of living is unbelievably high. You'd be lucky to find a bedroom to rent in someone's house for under $1200 currently in the Vancouver area (even an hour away) The cost of food and gas (oh my) is very, very high. People are feeling it here for sure.

[@livingluxwithmeredith]

Thank you for sharing your experience

[@mizmelbourne]

I’m cooking more at home…not because I can’t afford to eat out but because all my local restaurants are skimping on the quality and quantity of ingredients so they can retain their profit margins.

[@livingluxwithmeredith]

Well that’s not good!

[@sharonozvenom]

Same here . Prices of everything on the menu have increased and portion served has decreased . 🤨

[@meld2127]

Love this style of video more than unboxings! Well done

[@livingluxwithmeredith]

Thank you 😊

[@kristenfuga1]

Congrats on hitting 7k!!!!!! 🎉🎉

[@livingluxwithmeredith]

Thank you so much 😊

[@Gemstonebunny]

Very informative video and interesting topic Meredith so keen to see more videos as someone from the UK trying to understand how this is affecting other countries. Price of basic food items is ridiculous at the moment and certain homes are making the choice between heat/fuel or eating on a daily basis. Crazy, horrible times for such a major country! 😖

[@livingluxwithmeredith]

Thank you for sharing your experience in the UK. I think things will get worse before they get better

[@Gemstonebunny]

@@livingluxwithmeredith I agree, sadly! Bad timing for my LV SA sending a pre-look at FW23 collection 😂😂

[@mrsmuertabiotches]

Interesting. I've actually put a number of items on the 2nd hand luxury market and they're selling amazingly!

[@livingluxwithmeredith]

You’re lucky!! I hope you keep finding buyers!

[@mrsmuertabiotches]

When my Faure Le Page bag recently sold on Real Real I said to myself "did Meredith buy this one?"

[@faithchrissybeauty]

Great video. I love your content. I don’t personally feel luxury is dying, affordability is dying. I live in a heavily populated city and on the weekends when I feel brave enough to venture to the mall, the Chanel and LV stores are still crowded and you wait in lines wrapped around the corner. And the buyers are getting younger and younger. Which I’m not mad at. The shift is social media. Everyone was on social media unboxing and now with the price increases, many influencers can longer afford to do so. So now luxury is dead?!?! These fashion houses are having record numbers in sales. LVMH owner is now the richest man in the world. Chanel sales jumped around 40% during the pandemic, I believe that’s what I read when I reviewed their financials. The desire to constantly buy and unbox has finally caught up with a lot of KZbinrs. They now have to be creative with their content, so many are leaving YT altogether. But I don’t think luxury is dead, it’s just becoming unattainable for a lot of us.

[@livingluxwithmeredith]

Thank you for sharing your thoughts

[@melindagoodin164]

I thought all this was very interesting, if i try talking to someone here in the US, they all deny. Thank you for bringing up the subject!

[@deborahcurtis1385]

People are putting up a brave face and will deny their true situation to someone other than a very close friend or family member. It's a kind of taboo to talk about money anxiety or distress.

[@livingluxwithmeredith]

Thank you for watching and sharing your experience of the topic.

[@amybrando2585]

Great video & everything you said was on point. 🤩

[@livingluxwithmeredith]

Thank you 😊

[@lt3945]

Hello Meredith ! Congratulations 7k !!! 🥳👏🏼👏🏼

[@livingluxwithmeredith]

Thank you so much 😊

[@SandRaisin]

I bought a tiny one-bedroom apartment in city centre for 1.8m AUD, I am spending my money on my new home now so not much shopping new or preloved in 2023. Interest rates rocketed In my country a lot are affected.

[@livingluxwithmeredith]

Congratulations, but it’s definitely a huge commitment and investment. I hope you love it and are happy!

[@jeanettenfreeland1408]

i am feeling the strain I was a full time dishwasher in an expensive luxury Retirement home now I am partime

[@livingluxwithmeredith]

Thank you for sharing

[@kathyn1343]

Very interesting take on this topic. Please continue these longer informational type videos, I learned a lot!

[@livingluxwithmeredith]

Thank you for the feedback

[@onlinedigitallegacy]

Really interesting video, thank you Meredith! Simone x

[@livingluxwithmeredith]

Thank you for watching

[@SueBates]

So, since luxury buyers at the big stores are slowing, why are they still raising their prices so much I can’t quite understand that one😮 and very thoughtful commentary. Thank you.

[@SueBates]

@H Kary oh! that makes sense✌🏻

[@deborahcurtis1385]

@H Kary Yes they know they can rely on the super rich to pay more money they aren't price sensitive. So they're price gouging to make up for the loss of volume.

[@livingluxwithmeredith]

Steady price increases have always been the strategy to ensure brands stay elusive enough that we will still want them. During the GFC Chanel had massive price increases, people still shopped.

[@susanharwood2773]

Thank you very much! I have been wondering about our marketplace and if there is more of us being more leary.

[@livingluxwithmeredith]

Thank you for watching

[@shabchique7149]

I love the topic and it's always fun to switch it up. Variety is the spice of life as they say. :) In my work B2B, we sell to small, mid size, and very large companies and saw the downturn since the end of last year. It was a good gage of the economy,. The consumer effect tends to come later. It's unfortunate but hopefully something good comes out of this such high price housing.

[@livingluxwithmeredith]

Thank you for sharing this information

[@Pinkexplosion2023]

Thanks, Meredith. I enjoy chatty videos like this. Apart from haul, I like your vlogs as well. I think you got good observations and you certainly did some prep work before making the video. I recently noted one thing in my area. I often go to Louis Vuitton's website and recently there are more stocks available than before (I first noted that from the Christmas Animation 2022 Collection). However, when I go to their stores here, there are lines outside most of the time and the popular items got sold out quickly and would not allow pre-order. When I check the website, these popular items are often still available and can be shipped immediately. Then I figured out that the buyers at the stores are mostly tourists which are often rich (given they can afford oversea trips) and they would not buy local online since they don't live there. So it only means that the local people are not buying much indeed.

[@livingluxwithmeredith]

Thank you for sharing!

[@toniwhite7671]

I enjoyed your video. Please keep chatting with us regarding topics like this. 💐

[@livingluxwithmeredith]

Thank you for the feedback

[@nnm3935]

Thanks for such an excellent and interesting video Meredith

[@livingluxwithmeredith]

Thank you for watching

[@reginaf21]

Great video, Meredith! Very informative & very well articulated!

[@livingluxwithmeredith]

Thank you 😊

[@rosahinson2166]

Hi Meredith, I’m in the US. Yes, we are feeling the crunch. I spend the majority of my time in the middle of nowhere. The nearest decent grocery store is 180 miles away. The small grocery store near us is insane, but I understand his situation as a business owner myself. In a big city we can buy a 12 ounce pack of bacon for $3 - $4 USD. At this little grocery store the same pack is $9. We are in an area that heavily depends on tourism. The local population is small, therefore the people that are available to work earn about 60% more than minimum wage. We worry that this next fall the tourism traffic we get will be cut drastically as people start feeling the economic downturn more and more. I guess we shall have to wait and see.

[@livingluxwithmeredith]

Thank you for sharing this! Relying on tourism makes the prospect of recession scary!

[@drdorann]

$400/week for a studio is a bargain in NYC. Studios can rent for $4K/month plus USD here in an amenity filled building.

[@livingluxwithmeredith]

That would be similar in the Sydney CBD, but this was over an hour from the city!

[@VivienneConnolly11]

Great points, totally agree 👍🏼

[@livingluxwithmeredith]

Thanks Viv!

[@katherineharman9289]

Very interesting topic. Well thought out and presented. Thank you.

[@livingluxwithmeredith]

Thank you 😊

[@mgt89]

Congrats on 7K wooo!!! Also, great video! I was just thinking I haven't even considered buying anything since September last year and have no immediate plans to get anything either :( lucky I can live vicariously through you haha

[@livingluxwithmeredith]

Thank you 😊

[@Liz86000]

Very interesting video, thank you.

[@livingluxwithmeredith]

Thank you for watching

[@AnUrbanGypsy]

I’ve been looking on the preloved market for around 6 months for a particular bag in really good condition but haven’t had much luck and I think people would rather hold on to what they have than sell it at a fair price. They want almost as much as current retail for a bag they bought 2 years ago that has been worn. I remember during the pandemic, when people were buying into the falsehood of bags being monetary investments, making a comment on someone’s channel to be careful because when you need the money, so will everyone else and you won’t be able to sell as fast, or for as much, as you may want to. Fashionphile seems OK but cost to ship to Australia outstrips any bargain. All in all, we do still have it really good in Australia; we tend to not have the great highs other Countries do but neither do we have such depressing lows.

[@livingluxwithmeredith]

I absolutely agree. I think our government will work hard to keep us out of recession and that our economy tends to stay more stable. Bags as an investment is never a good idea!

[@mizmelbourne]

Same with real estate. It should be a good time to buy, but stock is extremely limited as no one wants to sell!

[@EstherLion91]

Could you do a video on your fav lux makeup? I love how fresh you always look❤

[@livingluxwithmeredith]

I might do one as a lead in to TikTok which is where I’m about to start posting makeup content

[@kristinagustagunarsdottir9813]

Hi Meredith always love your content ❤would you be interested in making video on how you stored your bags and bag collections video? That would be interesting.

[@livingluxwithmeredith]

Thank you. My collection is mostly covered in collection-mas which has it’s own playlist.

[@Theresa1002]

Great video. US girl here and yes, I have cut back on luxury purchases. But grateful for everything I already have and feel blessed. Also-- love your shirt/sweater? Where is it from?

[@livingluxwithmeredith]

Thank you for sharing. My top is from Vine Apparel

[@traingirl.meghan]

Thanks for sharing! My spending is drastically different from what it was in 2020 - 2021. I focused more on savings in 2022 because we had a few trips planned, but I still felt comfortable buying a couple bags and slgs. Now I'm not feeling any pull towards luxury purchases. I'm sure it will come back, but I'm just not feeling that excitement because of the general economic tensions within the US. My apartment rent is about to go up 9% 😞but I know we are still quite lucky in our situation. I don't know if it's just me, but I feel these random waves of stress for the future even though they aren't attached to anything specific. Definitely not the feeling I want to take shopping with me.

[@livingluxwithmeredith]

Thanks for sharing your experiences Meghan!

[@Cherrysmith2809]

Excellent information, Meredith. Thank you so much. Here in the U.S. the Biden administration is managing the challenging economic times very well. Of the G7 nations, we have the lowest inflation. Inflation has declined appreciably, I believe to within 1% of target, but could stall with global gas prices rising again. Our economists have predicted a good chance of mild recession in 2024. Property prices are through the roof in many markets, but we are seeing modest corrections in those due to aggressive quantitative tightening. Some locales are seeing major corrections due to the shifting populace. I live in Hawaii, which is the most expensive market in the U.S., for all things. Luckily for me, I have been in this market for forty years, so I have resiliency. I am bullish on Hawaii, always. Like the luxury houses of Chanel and Hermes and LV, it will be fine. Having said that, I am keeping my powder dry at this time, as far as the luxury goods market is concerned. For reference, I am a retired RN who has done well in property assets and financial management of my own money, but I must be prudent with my finite retirement resources. In 2022, and early 2023 I went on a spending spree, (working on my bucket list, lol) but I have shut that down.

[@livingluxwithmeredith]

Thank you for sharing!

[@javius2000]

In San Francisco a condo usually cost $1m. A decent 3 bed house in a decent area usually cost $1.3m and up

[@livingluxwithmeredith]

It’s also an expensive city I hear!

[@christianask3970]

Great Topic!

[@livingluxwithmeredith]

Thank you 😊

[@Smilingcats_couture]

Thank you for this video, 💯 agree with you. You did a great job on this video, not boring at all, I appreciate the research.💗 I have been recollecting murakami so the resale market has been my best friend. As far as brand new, I would have to save because of the price increases for handbags, I do buy new SLG’s and fashion jewelry from LV.

[@livingluxwithmeredith]

Thank you so much 😊 Thank you for sharing your experience.

[@laurasorensenbobo]

Great topic thank you!!

[@livingluxwithmeredith]

Thank you 😊

[@charmainex7164]

Hi, it is great to have an intelligent conversation that was researched with 1200 participants and it being inclusive of the world. Not some ......... putting on make up, showing how to clean or ride in a cab etc. I agree that luxury brands will always be there but people need to live within their means and make the best of it there is luxury and beauty at all levels from a beautiful flower, scented candle, clean house or spare time. It is a state of mind as much as other things. If you think you are poor than you always will be regardless of what you own. P.s. I have been watching since you began, just ignore the stupidity of some comments (the haters) as they only show ignorance.

[@deborahcurtis1385]

Good post but you also need to be realistic for your own circumstances. Wishful thinking isn't going to manifest a cheap place to live for instance, and pretending it's ok to max out all your credit cards is unwise. Equally we aren't responsible for the circumstances of others, and we all need to remain calm, flexible and open to new possibilities and opportunities. I'm doing more creative stuff and listening to Gregorian chants, it's strangely calming.

[@livingluxwithmeredith]

I certainly agree that some people who cry poor aren’t really poor, but it’s their perspective.

[@styleiteverywhere114]

Chanel bags are hard to sell now.i find hermes bags are selling fast now unlike before.

[@livingluxwithmeredith]

Thanks for your thoughts

[@kaylheecarroll3186]

Interesting perspective and informative ❤

[@livingluxwithmeredith]

Thank you 😊

[@kaylheecarroll3186]

@@livingluxwithmeredith your welcome

[@breezybear1397]

YES LV STILL CROWED.

[@azi-reviews]

Love your makeup .. i gotta know what highlighter u use ❤

[@livingluxwithmeredith]

Thank you. I actually think this was just the Patrick Ta blush. The powder with the cream.

[@blktauna]

Def a buyers market now. Fortunately? I have almost everything I want. I'm also starting to prepare for a move so I need to get rid of things not pick them up. However I have a slightly different take on luxury. For me it's about an item made luxuriously, of superior materials, preferably custom with a superior customer experience. Chanel is just expensive (unless couture). LV is sliding away from luxury, Dior, Celine etc not really luxury. The clothes are generally not made superbly, they are not sized generously for alteration, there is a lot of polyester... I'm not paying over 600$ for a thin, poorly made, ill fitting t shirt just because it has a logo on it. They people they preyed on for that are no longer in a place to afford it or have learned better, but they rode the train for as long as it moved forward. Real luxury is getting my 30 year old speedy a new zipper and having the bag returned to me newly cleaned and conditioned. Service is luxury and that's where most of these brands fail first..

[@livingluxwithmeredith]

Thank you for sharing your thoughts!

[@luxuryandlifeinthemiddle]

Interesting money discussion. Are your mortgage rates not fixed in Australia?

[@2601Wendy]

Here in Australia, one can get a fixed rate, but it's usually for a specific time only, then the rate switches to variable, ie market driven. It's tricky, and you have to factor in rate changes when you look at what you can afford.

[@livingluxwithmeredith]

You can fix your rate Lisa, but at most it’s for 5 years and then you re-finance or go to a variable rate. However lots of people want an off-set account to pay down their mortgage faster and you can only do that on a variable rate. It’s all guess work.

[@makeupnmedicine]

Are most mortgages in Aus not fixed? Does Australia do a lot of variable rate mortgages that change with rate hikes?

[@livingluxwithmeredith]

You can fix your rate in Australia but only for a maximum of 5 years. After that you either revert to variable or re- finance. The downside is lots of people want to utilise off set accounts to pay down their mortgage faster and you can’t do that with a fixed rate.

[@chewie94116]

Louis Vuitton and other luxury companies have made the most money this year than any other year.

[@livingluxwithmeredith]

This is true

[@aussieexpatwatches]

I have no interest in buying a house. I simply have to move for work more often than owning would make sense.

[@livingluxwithmeredith]

Transient work would make it hard

[@gotasdelimon5302]

Yes please, keep making this videos…

[@livingluxwithmeredith]

Thank you

[@meld2127]

I think it is a cycle. Independent school fees keep on growing YOY unfortunately sometimes 6%. When funding multiple children plus giving exposure to regular overseas travel does make you rethink luxury purchases post pandemic when we were all bored. My current luxury is investing heavily in my children’s future - education.

[@livingluxwithmeredith]

That’s one of the most important things you can invest in! Your children

[@devincristopher3]

me and kev are trying to buy a house and were just told theyre going to cut our hours at work😅 they are doing it to everyone apparently😅

[@livingluxwithmeredith]

That’s terrible Devin!

[@melissalightstone7185]

Unboxing is more fun 🎉

[@livingluxwithmeredith]

Of course.

[@LisaSoulLevelHealing]

The rich have gotten richer. This shows that the luxury market really is moved by the middle class, even though they want to position themselves for higher. Notice, i said "moved" meaning, we determine the slow down or speed up, growth or decline in profits.

[@livingluxwithmeredith]

Thank you for your thoughts

[@bags_books_and_bowwows]

Pretty sure within my kids’ generation, the American Dream is going to be to have health insurance. 😱

[@livingluxwithmeredith]

The American health system is one many of us in other countries really don’t understand. We have free universal health care and only pay for private health insurance for better, faster access and more control over which doctors we use. But if I show up at the hospital with a broken leg, it’s all free (as in my taxes have already paid for it)

[@chinchillin6280]

Living in California is insane……so so so very expensive 😢 I wanted to buy a Felicie pochette but surviving and adding funds to my retirement accounts are priority

[@livingluxwithmeredith]

They’re good priorities!

[@Restless318]

THANK YOU THIS

[@livingluxwithmeredith]

Thank you for watching

[@StephsAdventuresAndFabFinds]

I am both a buyer & a seller but I use my gaming wins to buy lux & other spends lk travel so when the economy for the casino is good so it is for me but I do believe as you it is a buyers market ppl will drop prices & take offers that wouldn't consider it before. Our money is safe well divested & invested so no worries here but I remember the 90's to which we are now mirroring not just in fashion but in finance here in the USA & @ that time I remember the gap between salary & cost of living on an hourly wage. It's horrific. We here in the US are so spoilt that we have every day lux that some countries don't have even supplied by our gov. so taking that into account the standard of living even for the average Joe/ Jane is very high. Living in NYC is insanely high as ex. We have the same quarter acre & home dream here & yes there's a shift bc of the cost is unobtainable @ the hourly earned income level that unless there are multiples in the home paying for it one cannot. Renting or buying. Many live in tents on the streets these days. It is very sad. I felt bad today carrying my brand new big ole Graceful & accessories in the casino to play penny slots & so many of them in that casino couldn't even afford to b in there (I should take LV to High Slots) & they would look @ my bag lk they'd never get to own one it was sad made me wana put it in my coat. I believe we will dab more into quiet lux to b safe & respectful but no it's not going out of style. ;)

[@livingluxwithmeredith]

Thank you for sharing

[@narelleparsons6745]

Just thinking about the preloved market. I believe it is very overpriced so not surprised it has slowed down if indeed it has. Add our import taxes and you might as well buy new. For example, a medium lambskin classic flap with silver hardware in excellent condition will be almost as much as a new bag. Why would you even bother. Brand new sounds like a far better deal. FYI, 2 people lined up at Chanel Westfield. Have you been to Chanel Meredith? The Sydney stores are so poorly stocked. Try buying a simple black Chanel purse. Basically, the second-hand market is ridiculous prices and new stock can be an unpredictable waiting game that soon becomes tiresome.

[@livingluxwithmeredith]

Thank you for sharing. Yes, Australia never has a lot of stock in any of their Chanel stores.

[@silkbuttons]

You didn’t mention the obvious though, the price increases regardless of world socio macro economics will take out the small time lower fish.

[@livingluxwithmeredith]

It’s possible it will in the short term, but it may also drive people’s desperation to own these luxury items.

[@silkbuttons]

@@livingluxwithmeredith but they wont be able to afford it, thats why the fake market is booming right now

[@aliciamullaney6634]

Great information

[@livingluxwithmeredith]

Thank you 😊

[@littleblackbabycat]

I live in a normal suburb of Sydney.....council just valued this 3 bedroom, one bathroom, old style red brick home..mind you big cirner blick..at $3 million. 😮😮😮😮 can't get a house in Sydney for less than $1million.. I disagree green with the so called Australian dream...never taught this, my parents never owned a home...this is an American dream transferred to us.

[@narelleparsons6745]

Thats not true. Home ownership was an Australian dream after the war. Then my parents bought a car. Then came the TV etc. Their parents had bugger all as they lived through a war and the Great Depression. The boom after WW2 was an Australian dream. My parents would have had no clue what existed in America much less followed their ideals. No internet back then to copy or see how the other half lived. It wasn't until 1966 that my mother was able to go back to work at Parliament House in Canberra. Women who were married we not allowed to take up any jobs under the Commonwealth. So you see families had more money hence built their dream home rather than live in Government housing which I remember was one goal my father worked hard to avoid. He was proud he could work and build the family home. It was a dream come true for our family.....the Australian dream!

[@livingluxwithmeredith]

The dream of home ownership came from the depression. It’s well known by those of us who had grandparents who lived through that time and had a government encouraging them to spread out from the city and build their dream houses on land.

[@ameliarosescloset]

The impact will be far ranging, i suspect it will get worse before better

[@livingluxwithmeredith]

I agree!

[@silkbuttons]

Do you have a big mortgage Meredith or no mortgage?

[@livingluxwithmeredith]

That’s not something I’m comfortable discussing or providing information on.

[@silkbuttons]

@@livingluxwithmeredith ok dont be sounding so serious😀😃

[@olgaolga3041]

Interesting...

[@livingluxwithmeredith]

Thank you 😊

[@taral8247]

I loved this video! Very informative. I’m in Boston, MA. Right now I’m focused on investing in property. I bought a 5 bedroom AirBnB near Disney in Florida a while ago and it’s doing amazing rental wise. We are always booked! I’m looking to purchase more property as investments not bags, it’s the way to go. I’m still buying bags and finding great deals on resale sites, you are correct.

[@livingluxwithmeredith]

That’s fantastic! I’m so happy you have a solid investment strategy that is working for you!

[@bamagurl3242]

❤💚💜💙💛

[@livingluxwithmeredith]

Thank you 😊

[@azi-reviews]

In US we r on the verge of recession

[@livingluxwithmeredith]

Thanks for sharing

[@sandrac.3220]

I am in the USA. What is appalling to me are the prices at the grocery stores in the US. They have tripled in the last year. Also, the quality of our food at the grocery store is awful. It is actually cheaper to eat at a decent restaurant, because they get the best quality and by the time a regular person gets it, it is starting to spoil.

[@livingluxwithmeredith]

Thank you for sharing your experience

[@roseyscott3811]

Loved your commentary! Sad Australia's economy is iffy; in the US, a recession is right around the corner for us...ONLY because of the moron in the White House as well as his administration; neither he nor anyone in his administration know how to run anything; I hope your Australian Government officials are better.

[@livingluxwithmeredith]

Thank you for sharing. I think we forget that elected officials aren’t experts in anything really, they’re just people who got elected who are learning as they go. Clearly more governments need better advice!

[@sharonozvenom]

Our current Australian federal government is the labor party and they are useless as expected .

[@chewie94116]

I really enjoy your channel, but get rid of that grey background. It does not do you or your purses justice. Find a light pink or soft warm rose or museum blue or something. I am thinking Katy Perry and her fun colors. I also like how you change purses and keep us guessing at the number of purses in your collection. Hint: do not bring out any of the high end ones. Only bring them out if you're doing a video focusing on them.

[@livingluxwithmeredith]

Thank you for your suggestions.