When we speak about digital disruption it’s recurring impression, the one who wants that luxury brands are “bad pupils” regarding the ongoing transformation.
Let’s go back to the problem origins, that strange impression. You should’nt forget that seller asset, the marketing middle term it’s “the exception”.
Whether it’s for a jewel, a garment, a bag or whatever other one, the product must be “exceptional” in every respect. Materials choice, manufacturing, limited distribution, everything is meticulous, formed by slow process.
Apple Iwatch to compete with Rolex? Unthinkable a few years ago…
Digital introduction into the luxury would he make it more approachable? Conceivable !
“Uberisation” of the sector?
Not yet clearly, but it’s certainly one of the faces for next years, that will be astride “traditional” luxury sector, which according to me can never totally disappear …
It’s especially consumption mood that changed: clothes, watches and luxury bags renting became commonplace, even a reflex for millennials.
But the weakness lives in the fact that digital is fast, change every day, thus unpredictable. Big luxury brands lean on their story, their know-how in every domain & on the guarantee to have a unique, not forged, not imitated product.
With the aim to adapt their digital-marketing strategy, big brands bet more and more on “smartimage”
Technology which serves to optimize media display compared with its use; for pictures in particular, to highlight neatness & colors. It constitutes another way of creating unique product, here digital.
But knowing that digital absorbs now more market shares than other levers in ads term, luxury brands are going to have to adapt themselves, and create campaigns with significant impact.
Chanel is one of the brands which, according to me, managed best its image on the stoneware of original campaigns, based among others on the story-telling, with the aim to emphasize its mark through stars of today and yesterday.
Major stake for these big names will be to avoid absorption into digital disruptive whirlwind, keep their own identity & exception image, appear inacessible quite there remainder enough to acquire new customers and keep its old.
Luxury brands have to continue on the way of “classic marketing”, but take into account new dimensions that imposes internet raid, applications, new competition forms!
And if … blockchain system allowed to create new luxury system? That to redraw product history, and guarantee their origin! Case to be followed…