What makes a brand or a product ‘hot’ among consumers?

Consumers were busy shopping during the last quarter…and they’ve got quite the taste. Just look at Lyst’s Q1 hottest brands and products index, which ranks and measures the hottest fashion brands every quarter based on data acquired from 200 million consumers. (The index takes into account social media mentions, user searches, and product sales to curate its rankings.)

Atop the hottest brands list (which includes 20 brands) was Prada, followed by Miu Miu, and Moncler. Brands like Skims and Diesel also made the list. A $20 Uniqlo shoulder bag topped the hottest products list, followed by some usual (luxury) suspects like some Rick Owens sunglasses and Bottega Veneta earrings. (An honorable shoutout to the MSCHF Big Red Boots that came in fourth on the list.)

So, exactly what makes certain brands and products hot or not? Katy Lubin, VP of brand and communications at Lyst, told Retail Brew the biggest takeaway from the report this quarter was the heady mix of affordable and luxury brands. She believes the reason for the brands’ popularity is the current cost of living crisis and inflation. She noted that Q1 wasn’t “fully dominated by expensive luxury products” and instead saw several more affordable items on list, “which I think is an interesting trend to see if that continues or if it was kind of a one-off moment.”

Katie Thomas, who leads the Kearney Consumer Institute, an internal think tank at Kearney, noted a mass casualization movement that is reflected in consumer purchases across categories, including clothing and accessories. She said people want products to be accessible yet unique. Case in point: Kim Kardashian’s shapewear brand Skims, which earned a spot both on Lyst’s hottest brands as well as products list.

“Something like Skims, you could characterize that as, ‘No, it’s not cheap, but it’s not designer luxury prices, either,’” she told Retail Brew. “So it’s maybe a good price point for somebody right now who wants something stylish.”

Talk of the town: Lubin said Skims’s success story can be credited to both the brand’s ability to build momentum for itself and its constant collaboration with celebrities like the cast members from HBO’s White Lotus.

“It’s hard to be talked about consistently over time as a fashion brand. You really have to keep the news coming,” she said. “What’s interesting [with Skims] is that it’s not always about newness in the product. It’s about being the fastest, and the first to move with the right people fronting the campaigns.”

Prada too seems to have done a good job in terms of generating conversation, Lubin said, pointing to its “enviable mix of different cohorts of consumers,” most notably younger shoppers browsing TikTok trends who are “very engaged” with the brand’s archival products as well as its ’90s collections.

Big picture: The younger demographic-focused strategy also appears to be working for Miu Miu, which is part of the Prada group. “Both of those brands are managing to capture that zeitgeist in quite different ways, but still appeal to a quite intellectually rigorous shopper, as well as a trend-driven, more commercial [type],” she said.

But will these brands continue to dominate as trendsetters in the industry? Thomas says it all depends on whether they can stay true to themselves and consistently meet consumer expectations, which classic luxury houses have done successfully.

“Powerhouse brands have remained the powerhouse brands, and that is through consistency and familiarity with the brands,” she said, adding that being able to pull in younger consumers is another plus for luxury brands.

She continued that fashion retailers are also starting to partner with “up and comers, [and] highly visible” celebrities and influencers, which makes it easier for younger consumers to come across the brand. “So it’s really striking that balance between the foundation and the classic nature of the brand, and the up and comers and how consumers are evolving,” she said.—JS