The collaboration between Balmain and Cara Delevingne , who has become a friend of the house, is a prime example. This collaboration has extended to the design of collections and the generation of Instagram content that captures consumers and makes fascinating the assets of the house: glamor, rebellious spirit, dynamic style. 3. Online and conversational retailing The days of luxury white glove commerce and in-store service are long gone. Consumers today want the benefits and convenience of shopping online or even on social platforms like WeChat, Instagram, and WhatsApp.
They search the Internet and go to watchmaker websites to get the information they need. The importance of online sales was Norway WhatsApp Number List initially underestimated in the marketing of luxury brands, including by some of the larger companies. Jean-Claude Biver, non-executive chairman of LVMH’s watch division, told BaselWorld 2018 that retailers believe consumers won’t buy luxury pieces online , adding: “We didn’t realize millennials would buy cars or watches online as fast ”. Nowadays, however, more and more businesses are using online platforms to sell their products.
4. Tradition versus quality, customer service and design According to the Luxury Institute report, Millennials, Gen Z and Baby Boomers rank the brand’s history and tradition as the sixth of the things that influence their purchasing decisions , with the top three being quality, customer service and design . Decades ago, tradition was synonymous with quality, exclusivity and high prices. But today things have changed as consumers see a dramatic increase in the quality and appeal of new premium brands. Many brands, not perceived as luxury brands, pride themselves on offering coherent strategies that generate an exceptional experience and create products of very high quality: the gap with traditional luxury brands is narrowing.
In addition, in this context, young people are no longer willing to pay more just for skills that they take for granted. Consumers seem to prefer the responsiveness , speed and personalization of brands’ response to their needs over tradition . Nowadays, whatever their pricing policies, luxury brands need to be accessible and responsive because long delivery times and the feeling of distance are becoming less attractive to consumers. 5. The brand-consumer relationship becomes even more personal. In a world where users are just one click away, the best luxury brands must know how to seduce by offering a personalized, remarkable and unforgettable experience.
From the personalization of products, such as that carried out by Hapticmedia with the Guerlain 3D configurator which doubled conversions , to the personalization of the shopping experience, adjustment to the needs and tastes of each consumer has become essential. Technology has become such an important part of our daily lives that it is inconceivable for luxury brands to ignore it. Rather, they must use it to build relationships, spark experiences and tell stories. This is what Cartier did for example, using VR to tell Chinese consumers the story of the Santos watch collection and transport them to twentieth-century Paris.
At Hapticmedia, we have also used augmented reality and virtual reality to allow consumers to create their personalized Baume watch , a tactic that has proven to be extremely effective for the brand. 6. AI and data bridge the gap between brands and consumers. In recent years, there have been serious discussions about the ability of AI to substitute for human interaction. But in fact, in our digitalized society, luxury companies are using these technologies to improve their customer-centric strategies and forge even stronger relationships. Louis Vuitton, Tommy Hilfiger, and Dior all use analytics and machine learning to deliver more personalized services and improve their marketing strategies in real time.