Affordable luxury: It may sound like an oxymoron, but in an uncertain economy, it’s striking a chord with cautious consumers looking for value—and expecting more from the brands they buy. “Brands are actively thinking about the fact that people are shifting their spending,” according to McKinsey Senior Partner Gemma D’Auria. “If they want to stay relevant, they need to meet their customers where they are.” In this episode of The McKinsey Podcast, D’Auria and McKinsey Senior Partner Holger Harreis speak with Global Editorial Director Lucia Rahilly about , including what consumers want, where they’re finding it, and how fashion executives can use AI to enhance creativity, competitiveness, and the customer experience overall.

Any unanswered questions about this episode? Send them our way at: TheMcKinseyPodcast@mckinsey.com

Theme music composed, performed, and produced by Joy Ngiaw.

Affordable luxury: It may sound like an oxymoron, but in an uncertain economy, it&rsquo;s striking a chord with cautious consumers looking for value&mdash;and expecting more from the brands they buy. &ldquo;Brands are actively thinking about the fact that people are shifting their spending,&rdquo; according to McKinsey Senior Partner <a href="https://www.mckinsey.com/our-people/gemma-d-auria">Gemma D&rsquo;Auria</a>. &ldquo;If they want to stay relevant, they need to meet their customers where they are.&rdquo; In this episode of <a href="https://www.mckinsey.com/featured-insights/mckinsey-podcast">The McKinsey Podcast</a>, D&rsquo;Auria and McKinsey Senior Partner <a href="https://www.mckinsey.com/our-people/holger-harreis">Holger Harreis</a> speak with Global Editorial Director Lucia Rahilly about , including what consumers want, where they&rsquo;re finding it, and how fashion executives can use AI to enhance creativity, competitiveness, and the customer experience overall.
Any unanswered questions about this episode? Send them our way at:&nbsp;<a href="mailto:TheMcKinseyPodcast@mckinsey.com">TheMcKinseyPodcast@mckinsey.com</a>
Theme music composed, performed, and produced by Joy Ngiaw.

The McKinsey Podcast, our new flagship podcast series, takes you inside our global firm, and features conversations with experts on issues that matter most in business and management. McKinsey & Company is a management-consulting firm that helps businesses, governments, and not-for-profit organizations realize their most important goals. Topics covered in this series include strategy, technology, leadership, marketing, operations, organization, and the role of business in society.

The McKinsey Podcast features conversations with experts from global management-consulting firm McKinsey & Company, focusing on the issues that matter most in business and management.

The McKinsey Podcast

Our flagship series The McKinsey Podcast takes you inside our global firm, and features conversations with experts on issues that matter most in business and management. McKinsey & Company is a management-consulting firm that helps businesses, governments, and not-for-profit organizations realize their most important goals. Topics covered in this series include strategy, technology, leadership, marketing, operations, organization, and the role of business in society.

Our flagship series The McKinsey Podcast takes you inside our global firm, and features conversations with experts on issues that matter most in business and management. McKinsey &amp; Company is a management-consulting firm that helps businesses, governments, and not-for-profit organizations realize their most important goals. Topics covered in this series include strategy, technology, leadership, marketing, operations, organization, and the role of business in society.