Image Credit : Céline Parade at Chambord Castle Image credit : Live shopping ( Arcane ) Online, virtualization tools push the personalization experience to its climax, by giving the possibility to create a signature piece, to choose sizes, colors and accessories, to engrave your initials… Well executed, this technique is extremely effective in Jamaica Phone Number List luxury marketing. Thus, Baccarat , Balm , Guerlain or Kenzo , are already tested it successfully. Transparency and meaning: the new luxury markers In search of meaning and benchmarks, but also transparency and authenticity, consumers expect brands much more than a product.

Being more inclusive, sustainable and ethical is no longer an option. Consumers want the luxury brand to get ahead of their desires, but also to open up to them. The new entrants have understood this well. They do not hesitate to communicate on their good ethical and environmental practices, but also to open the doors of their workshops for private visits. Their storytelling is about the future and commitments, rather than quality and the past. Image Credit : Ananas Anam (alterfin ) Here again, they are launching a new challenge for historic brands: rethinking what is intellectually good and fair in order to become desirable. Perhaps the most telling example is that of Tesla, which in just a few years has made electric cars extremely attractive.

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Likewise, Mckinsey Figures Show That 82% Of U.s.

Other initiatives are emerging to develop more “fashionable” practices, such as that of the Ananas-Anam leather goods manufacturer with its pineapple-based vegan leather. Image Credit : Pineapple Leather Bag ( Alikjagecta ) Traditional luxury brands must therefore reinvent themselves at the source: rethink the materials with which they design their products, rework their supply to make it more virtuous, as well as the social standards they practice, avoid overproduction … Indeed, this It is no longer so much the quality of the materials that defines luxury as the underlying values ​​it carries and its impact on the planet. The movement of the cursor is not trivial and involves a change of mindset .

What is certain is that heritage luxury brands must take seriously this new positioning in terms of ethics and sustainability that the new entrants have natively adopted. Being committed to a cause and becoming companies with a mission must become priority objectives. Image Credit : Gucci Engaged Abortion Fashion Show ( Vogue ) While many choose to embrace the environmental cause, some opt for other fights such as gender equality or fair trade. Gucci, in particular, defends the cause of abortion . In June 2020, the house also released its first circularity experience, Gucci Off the Grid , a line of accessories and streetwear made from recycled, organic, bio-based and sustainably-sourced materials.

In This Context, It Is Estimated That E-shopping Will Reach 20-25% Penetration In The United States By 2024.

Image Credit : Gucci off the Grid Campaign: The First Step Towards Circular Production ( Vogue ) Building towards the future rather than from the past For a long time, the history and heritage of the great luxury houses were considered assets on which these brands could capitalize without asking any questions. In just two decades, things have changed dramatically. These same heritage brands today suffer from this backward-looking positioning, whether in jewelry, luxury cars, fashion, fine watchmaking, retail sales or the manufacture of made-to-measure shoes. Century-old houses suddenly began to lose ground in the face of new entrants resolutely turned towards the future.

At their birth, they stood out by capitalizing on an area of ​​expertise: an artisanal production method, an unparalleled sense of design… Everything was centered on the product. A desirable product that everyone dreamed of owning. For many years, their hegemony was never called into question because very few players shared the true luxury market. Image Credit : Daniel Wellington , Interchangeable Strap Watches Today, this model is at a standstill. First of all, with the desire to seize the opportunities offered by globalization, the big luxury houses have lowered their level of quality, reducing the gap with other players. Also, with many more competitors, high quality craftsmanship is “expected”, and no consumer will pay more for it. They have never been so young, or so well informed.

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