how will digital experiences reshape the future of luxury?

The luxury sector has experienced unprecedented change, accelerated by changes in consumer behaviors associated with the pandemic. Although the transition to digital and hybrid technologies will take some time, it is now undeniable that homes that have made profound changes to their marketing model through digitalization are now ahead of their competitors. . With their expertise in consulting and content management, especially for big luxury brands, Valtech and coremedia analyze new issues that will determine the future of the industry.

The virtual customer service experience in the luxury sector.

While pandemics and shutdowns highlight the superiority of digital over new devices, the generalization of e-commerce needs to be done in a way that is consistent across all current and future procurement channels for brands. In the white paper it is titled “The Future of Luxury is Virtual”Valtech explains how technology can engine a whole new generation of luxurious customer experiences, and how brands need to adapt to these manufacturing technologies. to the “next step”.

Among the major trends in “virtualization” of purchasing, we note:

  • The rise of the metaverse, which represents many opportunities for luxury brands, is a vector for capturing new generations of consumers that most brands still find difficult to attract. According to the Gartner Institute, 25% of individuals spend at least an hour a day in the metaverse to work, shop, study or have fun.
  • Virtual reality and augmented reality technologies, which are more easily accessible to the public.
  • Online video games have exploded with pandemic, paving the way for new means of communication for luxury gamers.

In order not to miss the boat, it is therefore important to examine the relevance of the virtual universes for your business and the best strategy to use, but also to tailor your digital strategy to all sales channels to offer a smooth and omnichannel.

Interview an experienced specialist.

In addition to these trends, the white paper presents an exchange between Jean Christophe Hermann, EVP Retail at Valtechand Isabelle Aguerre, founder of Lux in Vivo and former employee of Cartier, Balenciaga and Chanel. The result is a detailed analysis of the key elements that will allow luxury brands to offer new experiences to their customers. Among them:

  • Take advantage of new opportunities in the sector, anticipating potential risks.
  • Adopt truly customer-centric marketing and communication strategies.
  • Consider physical stores as privileged places for brands to distinguish themselves from competitors and build customer loyalty. Faced with competition from DNVB and platforms such as Amazon and Farfetch, a brand’s story and human aspect will remain a unique and distinguishing asset.

Evaluate the digital experience (DX) maturity model for luxury brands.

Simply put, some factors are now widely considered essential for a successful modern and customized luxury experience, the hyper-personalization of messages and the consistency of the content of all visible channels. as requirements. To do this, brands run multiple product launch campaigns and they need to engage their customers through ongoing communication campaigns, and no longer according to the usual “4 times”.

It’s about this coremediaa company that specializes in publishing multimedia content management software for brands, especially large luxury players, has launched its white paper in “Business Maturity Model”.

We studied in particular the importance of self-evaluation as a first step in calculating content marketing performance to optimize DX across brands, as well as five levels of outcome maturity. of it:

© Coremedia
  • The fragmentary model. At this level, the brand has a website embellished from the e-commerce site, bringing a strict, complex and unequal customer experience. It is therefore important to put in place a strategy to integrate marketing channels and streamline the process from start to finish.
  • The integrated model. Here, multiple channels are involved in content management. Even if the digital experience is more responsive and adaptive, it is not yet personalized.
  • The instant model. Through personalization, global campaigns give way to more local and better-targeted campaigns and a seamless experience is possible at all touchpoints.
  • The dynamic model. We are moving here to a high level of digital experience maturity, with hyper-personalized experiences thanks to the collection of relevant data, a holistic view of the customer profile, the orchestra and quick management of product launches throughout.
  • The immersive model. The final phase of the brand experience is reached when the separation between the physical and digital worlds disappears. The difference is obvious compared to the competition, all physical environment including virtual dimension, fluidity and brand consistency of all channels is unique.

It is, of course, always possible to change, refine and improve the customer experience at a much higher level and closer to what consumers expect. The ability to create a story in an consistent and convincing way is accessible to everyone, the whole thing is to have the right tools.

To learn more and innovate your brand, access Valtech’s white paper and Coremedia’s white paper here.

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