LSN : News : Stat: India's wealthy class is rapidly expanding

This Dubai museum is a machine for the future

Museum of the Future, Dubai

Dubai – Opening today, The Museum of the Future is a centre dedicated to future thought, technology and innovation in the UAE. It features a permanent exhibition of speculative proposals that aim to stimulate debate about human growth and development.

Instead of static displays, the museum will act as a testbed for new concepts, ideas, visions and technologies. Science, artificial intelligence, space exploration, climate adaptation, urban living and mobility are among the intellectual and environmental subjects that it will explore through its exhibitions.

‘The Museum of the Future is a ‘living museum’, constantly adapting and metamorphosing as its very environment drives continual and iterative change to its exhibits and attractions,’ explains Mohammad Al Gergawi, chairman of the Dubai Future Foundation.

Turning the museum into a machine for the future, the centre demonstrates how cultural institutions can help forge new paths instead of simply archiving the past, something we explore in Post-modern Museums.

Strategic opportunity

Artefacts from the past can spark debate about the future. Consider how cultural and retail spaces can fuel conversation about human progress and development

The live-stream app revitalising second-hand fashion

Finds, UK

UK – Finds is a social commerce platform with a mission to make online shopping as exciting as digging for vintage treasures in real life. To do this, sellers can tap live-streamed video content to resell second-hand goods.

Described as a combination between TikTok and Depop, Finds focuses on community. Users can follow creators as well as like and comment on their posts, replicating the social media experience, and both sellers and buyers can filter their feeds to suit their preferences. The app's name derives from the thrill of discovering something unique in a shop or thrift store, usually referred to as a ‘good find’. With a colour palette that combines vibrant greens and purples, the app’s identity is heavily influenced by the 1990s, a period of fashion that is particularly popular among its Gen Z target audience.

By taking a content-led approach, Finds is aligning itself with other social marketplaces that blur the lines between content, commerce and media. To learn more about this model, readers can revisit the interview we conducted with Jesse Lee, the founder of luxury resale platform Basic.Space.

Strategic opprtunity

Seller-generated content can help make the resale experience feel more intimate. Consider how your brand can align video, live-streams and messaging to create a more personal experience

Self Space expands into community mental health

UK – Self Space, the UK’s first on-demand mental health centre, is turning therapy into a community pursuit. Striving to eliminate the barriers that prevent access to mental health support, its new sites in London and Manchester will make therapy ‘as everyday as going to the gym, getting a haircut or grabbing a coffee’, explains Jodie Cariss, founder of Self Service.

Open seven days a week, Self Space does not require lengthy consultations, strict appointments or waiting lists. The company offers same-day bookings and speedy access to qualified professionals, something that is rarely seen in the conventional therapy industry. The space will also serve as a location for workshops and group sessions, as well as a gathering space for like-minded people in the local community.

We've been tracking the evolution of Self Space since 2019, when the emerging wellbeing brand pioneered a new approach to Modern Therapy.

Self Space, UK

Strategic opportunity

When it comes to mental health, how can your company encourage preventative maintenance rather than crisis care? Making mental health advice available on a drop-in basis, rather than a structured service, can help to break down barriers

Stat: India's wealthy class is rapidly expanding

28 Kothi hotel, Jaipur

As India’s upper and middle classes expand, brands are well positioned to enter India’s burgeoning luxury market. According to the Hurun India Wealth Report 2021, the number of millionaire households in India has increased by 11% year on year to reach 4,580,000 in 2021.

Over the next five years, the millionaire group is expected to grow by a further 30%, reaching 6m homes by 2026. But it's important to note that happiness, on the other hand, has decreased as income has grown. Two-thirds of those polled said they are satisfied with their personal and professional life, down from 72% in 2020.

With a market size of £4.4bn ($6bn, €5.3bn), India’s luxury goods sector is relatively modest in comparison with other nations. But the country’s rapidly growing upper class – and corresponding luxury market – indicates potential for emotional and physical wellbeing services aimed at supporting this high-net-worth demographic.

Strategic opportunity

To entice the next generation of Indian affluents, brands can place an emphasis on healing luxury. Consider introducing luxury products that promote wellbeing