Just wrapped the Meta Luxury Summit in NYC and there was a lot to take in. Luxury brands, take note:

The U.S. luxury market is down 14% since late 2022. But here’s the kicker: Americans hold 57% of the world’s ultra-high-net-worth population yet only account for 26% of global luxury sales.

That massive gap isn’t just an opportunity. It’s a warning.

Sitting in that room with brands like Tiffany and RIMOWA, it became clear that the old playbook is broken.

The brands still running upper-funnel brand awareness campaigns are getting crushed by competitors building full-funnel strategies (14.1% vs 4.7% ad recall difference).

The winners are adapting to two major shifts:

First, “Creative is the new targeting” isn’t just a agency slogan anymore, it’s the stark reality.

Meta’s AI is prioritizing creative diversity over audience precision. The brands testing multiple creative angles are winning while others chase diminishing targeting options.

Second, your affluent customers moved.

51% of $200K+ households now live outside the top 15 cities. Austin, Raleigh, Charlotte are seeing the fastest high-income growth, but most brands are still advertising like it’s 2019.

Meta’s new omnichannel tools are delivering 15% lower cost-per-purchase for brands that connect online and offline properly. But you need accurate store data, strong in-store signals, and localized creative to make it work.

The brands that figure this out first will grab market share while competitors wait for “better conditions.”

If you’re seeing similar challenges with reaching affluent consumers or need to discuss how these platform changes affect your strategy, let’s talk.