Featured Image: Aston Martin’s One-77 Cycle limited edition road bike. Photo Credit: Luxury Society

The past several years have been difficult ones for the luxury sector, along with most every other market. Economic downturn has affected how consumers value individual luxury items and, ultimately, their purchasing decisions. Even as the economy continues to rally, luxury brands struggle to find relevance with consumers who are still feeling the proverbial sting of recession.

To combat obsolescence, luxury brands that once ruled their respective market spaces are stepping outside these spheres and adopting a new approach: lifestyle. While this level of engagement with consumers has always existed within the luxury realm, “lifestyle brand” is no longer an assumed title. Brands are embracing their roles in the lives of their consumers and are now attempting to permeate the boundaries that once confined them to specific markets.

Coach has long been known for its stylish handbags, and, in recent years, for its expanded product lines including sunglasses, shoes and jewelry. An interview with Coach’s Executive VP of Marketing Stephanie Stahl revealed that these offerings, always featured separately in the company’s advertising efforts, will now come together under the brand’s lifestyle message.

We’ve had offerings in many categories for a long time, from footwear to sunglasses. But we have not messaged it to the consumer in the way we’re starting to do now. We’re showcasing our full assortment of products in the context of the complete Coach brand.

Luxury automotive brands are also adopting the lifestyle approach, showcasing their expertise in materials and performance to offer interior-design spaces, custom fragrances and even limited edition bicycles. A car undoubtedly becomes part of its owner’s day-to-day life, and expanding the level of interaction a consumer has with his or her vehicle offers a more complete brand experience.

We’ve also seen some considerable management changes among major brands. Last month, Apple announced that it has hired Angela Ahrendts, CEO of British fashion label Burberry. Beginning in 2014, Angela will take over Apple’s retail and online stores, a position previously held only by men from the high-tech industry. Her appointment, as explained in this article from Gigaom, reveals the consumer electronics brand’s plans to embrace the ‘lifestyle’ mentality.

Like automobiles, a consumer’s preferred mobile device is rooted in daily interaction; the long-running Mac versus PC campaign was proof-positive that consumers adopt a brand directly into their lifestyle choices. Does this mean we’ll be seeing an uptick in Apple cardigans and logo-emblazoned coffee mugs come the new year? Probably not. But we can expect that Apple, along with countless other luxury brands, will soon become an even more influential part of our lives.

Which luxury brands do you think will adopt the lifestyle approach? Share your ideas in the Comments, or drop us a note on some Oscar de la Renta stationery.