Luxury brands may be misreading their most important customers, according to a new research report by Toronto-based consultancy Faculty of Change. The report, titled “The Secret Language of Wealth Your Company Isn’t Speaking,” dives into the shifting mindset of high-net-worth individuals and uncovers a surprising insight: luxury retail is increasingly failing to deliver the one thing its customers value most—status.

“Everything is about status,” said Jared Gordon, Managing Partner at Faculty of Change. “People don’t talk about it openly, but that’s ultimately what drives behaviour, especially among affluent consumers.”

Interviewed this episode:

• Jared Gordon, Managing Partner at Faculty of Change
• Faculty of Change

This podcast is the audio version of the The Interview Series video podcasts by Retail Insider Canada are available through our Retail Insider YouTube Channel where you can subscribe and be notified when new video episodes are available.

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Background Music Credit: Hard Boiled Kevin MacLeod (incompetech.com). Licensed under Creative Commons: By Attribution 3.0 License. http://creativecommons.org/licenses/by/3.0/

Craig and Myriam Belzile-Maguire, Founder and Designer at Maguire Shoes, discuss the remarkable growth the Montreal-based footwear brand she founded. Known for its direct-to-consumer model, the brand offers high-quality shoes at affordable prices by cutting out traditional wholesale markups. Myriam shares how her experience as a designer inspired the creation of a mid-range price point in leather footwear that bridges the gap between budget and luxury. Maguire’s unique business approach has been instrumental in its success, allowing the brand to maintain fair pricing while delivering exceptional quality.

Maguire Shoes has expanded significantly since its inception, starting with a small Montreal shop and growing to include locations in Toronto, New York, and soon, Brooklyn. Myriam explains the strategic importance of being in trend-driven neighborhoods with vibrant local life, such as Nolita in Manhattan, to enhance visibility and attract fashion-savvy customers. Physical stores have also positively impacted online sales, with half of the brand's revenue now generated through e-commerce.

Beyond footwear, Maguire has diversified its product line to include accessories such as gloves and jewelry, inspired by collaborations with trusted manufacturers. As the brand continues to explore new markets and refine its offerings, Myriam hints at potential future ventures, including a possible expansion into men's footwear. Despite rapid growth, Maguire Shoes remains committed to its Canadian roots, ensuring competitive pricing for local customers while capturing global attention through innovative designs and strategic retail placement.

Interviewed this episode:

• Myriam Belzile-Maguire, Founder and Designer at Maguire Shoes
• Maguire Shoes

This podcast is the audio version of the The Interview Series video podcasts by Retail Insider Canada are available through our Retail Insider YouTube Channel where you can subscribe and be notified when new video episodes are available.

Subscribe, Rate, and Review our Retail Insider Podcast!

Follow Craig:

LinkedIn: www.linkedin.com/in/CraigPattersonToronto
Instagram: @craig_patterson_toronto
Twitter: @RI_EIC

Follow Retail Insider:

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Twitter: @RetailInsider_
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Share your thoughts!

Drop us a line at Craig@Retail-Insider.com. You can also rate us in Apple Podcasts or recommend us in Overcast to help more people discover the show!

Background Music Credit: Hard Boiled Kevin MacLeod (incompetech.com). Licensed under Creative Commons: By Attribution 3.0 License. http://creativecommons.org/licenses/by/3.0/

Craig and Keren Halpern, Product Marketing Director, Retail & Hospitality at Priority Software, discuss how Priority Software’s ERP solutions help small to mid-sized retailers streamline operations and enhance customer experience. Halpern highlights Priority’s tailored platform, which enables retailers to manage retail, POS, and ecommerce functions in one place. By consolidating essential retail processes, Priority Software offers flexibility and growth without the need for additional integrations, a crucial advantage for resource-conscious businesses.

Halpern addresses the challenges facing small and mid-sized retailers in North America, particularly in a highly competitive market where they must deliver the same level of service as larger counterparts. Priority Software supports these businesses with a seamless omnichannel experience, merging physical and digital retail channels to meet customer expectations. Priority Software’s centralized system allows retailers to maintain up-to-date inventory, personalize customer engagement, and manage operations across multiple locations with ease.

The discussion also explores trends and future needs in retail, with Halpern emphasizing the importance of cloud-based point-of-sale (POS) systems for centralized management and operational ease. Through cloud POS, retailers benefit from simplified operations, better data visibility, and automated processes that improve both customer and employee experience.

Interviewed this episode:

• Keren Halpern, Product Marketing Director, Retail & Hospitality at Priority Software
• Priority Software

This podcast is the audio version of the The Interview Series video podcasts by Retail Insider Canada are available through our Retail Insider YouTube Channel where you can subscribe and be notified when new video episodes are available.

Subscribe, Rate, and Review our Retail Insider Podcast!

Follow Craig:

LinkedIn: www.linkedin.com/in/CraigPattersonToronto
Instagram: @craig_patterson_toronto
Twitter: @RI_EIC

Follow Retail Insider:

LinkedIn: www.linkedin.com/company/Retail-Insider
Facebook: https://www.facebook.com/RetailInsider/
Twitter: @RetailInsider_
Instagram: @Retail_Insider_Canada

Share your thoughts!

Drop us a line at Craig@Retail-Insider.com. You can also rate us in Apple Podcasts or recommend us in Overcast to help more people discover the show!

Background Music Credit: Hard Boiled Kevin MacLeod (incompetech.com). Licensed under Creative Commons: By Attribution 3.0 License. http://creativecommons.org/licenses/by/3.0/