Rising prosperity across Latin America has seen people embrace big name brands over the past ten years. But as economies across the region have started to slow, shoppers are choosing to hold on to their status symbols, opting to make less visible savings elsewhere.

Savvy shoppers have grown wise to organic labelling and greenwashed brands that claim to be ethical. And they're increasingly sceptical when it comes to the word 'premium', too. Brits have grown cautious of the term, believing it's just another way for brands to command a higher price tag.

What is luxury? How does strategy in the luxury sector work? And what can it teach other brands? Marco Bevolo, one of the authors of Premium by Design: how to understand, design and market high end products, provides a vision of the business of prestige, desire and seduction.

Home improvement stores are rarely a joy to walk around. Sprawling shop floors packed with rack upon rack of disconnected fixtures make for a pretty miserable Sunday shopping trip. But in a PIRCH showroom, customers can take a shower or cook up a storm, all while they're still in store.