This PSFK guide is a shopper marketing report that outlines strategies for engaging a new wave of value-driven luxury consumers, from live-streamed launches to fractional ownership
Already in the process of undergoing fundamental change, digital, agile and sustainable business models are no longer a novelty but a necessity, as the luxury industry adapts to a younger consumer base that equally prioritizes seamless channel-to-channel experiences, purpose-backed initiatives, and access to product of value. Now, leaders within the luxury market are reformatting their value propositions to align with these consumer demands, and updating their sales and marketing strategies to not only provide direct connections between brand and consumer, but also transparently convey the initiatives, services and offerings they’ve created with a new consumer in mind.
Within this research paper, learn how luxury brands and retailers are actively communicating with a digital-first consumer on the channels they prefer and meeting them there with the personalized, seamless and engaging services they now expect. Understand the driving forces impacting the luxury consumer’s value equation, and gain insight into how luxury brands are integrating purposeful initiatives into their brand ethos to not only generate brand affinity, but create ongoing, human consumer connections around shared values, which has become integral within a competitive retail landscape.
Published November 2020
Elevating consumer education with augmented reality, providing a deeper insight into brand heritage and product benefits through immersive storytelling.Consumer Communities
Ensuring customers get the most out of a purchase by offering access to a likeminded community, expert resources, and related servicesCircular Economy
Developing new appliances that directly replenish and deliver products to the consumer or letting customers bring reusable containers to purchase and refill products, eliminating the need for single-use packaging. This also encompasses creating a responsible supply chain with tools that provide monitoring and increase protection for workers, ensuring an ethical journey from source to store.Co-Creation Studio
For many consumers today, the items they buy are an important part of their identity, and they want their favored brands to help them express themselves. Retailers are installing in-store personalization stations and kiosks that offer shoppers an opportunity to create their own products and content, creating a more experience-driven purchase that invites shoppers into the design process, allowing them to create an extension of themselves that ties them to the brand.Discovery by Design
Streamlining product discovery and purchase through layoutVR-Enabled Store Design
VR-enabled platforms allow retailers to visualize store layout, merchandising presentation, staffing distribution and other in-store design opportunities prior to implementing them at scale.