The luxury industry is at a crossroads — modern technology has transformed how we shop, and consumers are more informed than in years past. Luxury brands that used to be able to count on mystique and premium materials alone are now forced to resort to artificial scarcity and hype to justify their high markups and preserve profits.The luxury industry is at a crossroads — modern technology has transformed how we shop, and consumers are more informed than in years past. Luxury brands that used to be able to count on mystique and premium materials alone are now forced to resort to artificial scarcity and hype to justify their high markups and preserve profits.