Louis Vuitton Price Increase. So it happened. The dreaded Louis Vuitton price increase. It’s not so much the price increase that I’m shocked about but the timing. Louis Vuitton usually does two price increases each year – one in February and one in November. So the one that just happened on May 5th seemed like it came from left field!
Disappointing but not surprising
Having a price increase during a world-wide pandemic is going to leave a bad taste in my mouth. It seems tone deaf. Even people who did not lose their jobs are becoming more financially frugal because the future is unknown. It seems as though we currently live in a world where anything can change at a moments notice.
It’s disappointing that Louis Vuitton would do this right now but not surprising. They are known to do price increases throughout the year. However, I thought they would stick to their usual November timeline. It seems wrong to do one in May- during a pandemic!
Big Increases On Popular Bags
The price increase ranged from 3-20% with a big price increase for popular bags like the Neverfull and Pochette Metis. Once again not surprising but definitely disappointing. I’m so grateful that I already own the Neverfull GM and MM so I don’t have to stress about future increases.
It sucks to save up for a bag and have the price moved to make it that much harder to obtain! However, the one good thing that comes out of this is that it increases the value of handbags you already own.
Where Was The Communication?
Communication is key. In my opinion Louis Vuitton should do better. Make a statement to your loyal customers and let them know about your price increases. It will increase sales for them (because people will spend prior to an increase) and makes customers feel valued. That’s just my two cents. How hard is it to communicate? I swear that’s the problem with most things in this world – lack of communication.
Am I Ditching Louis Vuitton Forever?
Yes and No. Will I still buy from Louis Vuitton? Yes. However, I will be focusing more time, money, and energy on buying pre-owned. I love the thrill of the chase of finding a luxury item deeply discounted in great condition! It’s more satisfying than buying brand new. Brand new purchases will still happen for me but maybe not as much as the past.
I go into more detail in my video. Find out why I think Louis Vuitton is looking for their target customer and it’s not someone like me!
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