Fashion & Luxury

A new mindset reshapes the rules

The flow of experience

Today, Fashion Luxury brands must undertake a new approach based on combining online and in-store strategies, within an omnichannel perspective: the single point of contact loses centrality to give rise to a fluid and distinctive, unique and personalized experience. As consumer demand develops, digital transformation must know how to take full advantage of the opportunities offered by new digital and technological frontiers. Only in this manner, a brand can be truly competitive.

A new concept of luxury

Luxury consumers are not what they used to be in the past. They look for brands in line with their vision and desire interaction consistent with new ideals oriented toward environmental and social responsibility, sustainability, diversity and inclusion. The ‘where’ loses centrality to make way to desires and emotions. Purchase decisions are shaped based on physical, digital and virtual experiences, in a blend of online and offline approaches made possible by technological development.

The concept of luxury changed from exclusivity, elegance and high price range to authenticity, awareness and implementation of what ‘people want to be’. Gen Z is crucial for the sector: contributing 5-15% of luxury purchases, and influencing the choices of previous generations.

Trends in Fashion Luxury

Sustainability

Young people have a new approach to fashion and luxury. They are more critical and attentive to the impact of their purchases. They ask Brands consistency and practicality: the values of the brand and their actions must remain consistent throughout the supply chain.

Localization

Due to the pandemic, consumers rediscovered the uniqueness and sustainability of local Brands, in contrast to global and standardized products. It will be important for Fashion Luxury Brands to find their niche into local contexts, even by taking a position towards social issues.

Social Commerce

In an increasingly ‘shoppable’ digital context, making the experience fluid is key: from inspiration to purchase with a view focused on maximum engagement.
Social shopping can take different formats: from buy buttons to live streaming or custom shopping to create a channel of connection.

Pre-Loved

Due to the growing attention to sustainability, more and more companies are moving to ride this concept throughout the supply chain and incorporate it into their offer.
In addition to enabling a 40 percent increase in profit margin, it also allows them to define brand positioning, reach a new audience and build loyalty in the long run.

NFT

Non Fungible Tokens allow Brands to meet the need for exclusivity, experience and sustainability that their reference target audience demands. Fashion companies are experimenting with different uses of NFTs: collection previews, clothing, in-store shopping, art, gaming and charity.

Gaming

The game industry has become a central channel for those in the fashion and luxury industries, since it allows them to expand their audience, reaching an active, younger, and premium target audience. Thanks to gaming, brands can improve performance throughout the digital customer journey, from awareness to purchase.

New Influencer

Influencer marketing investments are recording a steady YoY growth, with constant developments in the dynamics to create connections with consumers. Today they rely on Genuinfluencers, i.e., creators who prioritize sharing quality content and not product promotions and Virtual Influencers, the natural connection between real and virtual.

Metaverse

Development of AR and VR; the metaverse allows the consumer experience to be expanded, connecting, in a fluid way, real and virtual. In addition to the technological challenge, the metaverse imposes a change of mindset that places consumer at the center, free to choose when, how and where to interact with the Brand thus ensuring the same luxury experience.

By the brand’s side

Data are the basis of our consultancy:
Without them, there are no strategies, only opinions.
Starting from targeted analyses on specific audiences and reference markets, we implement data-driven strategies to achieve goals, defining and implementing operational plans to involve the audience in a valuable experience.

Intarget supports Fashion Luxury companies in their digital transformation by providing innovative solutions that enable the omnichannel commerce.