This slideshare is about the current environment in the luxury and fashion industries due to Covid-19 including accelerating trends, interesting initiatives launched by companies across industries, challenges and opportunities faced, and resulting calls-for-action.
This SlideShare shows the luxury groups and brands that have been the first to respond to Covid19, gives some initial future outlooks for luxury and fashion, and explains calls for action for brands. The presentation also looks at the key actions and measures that GAFAM (Google Apple Facebook Amazon Microsoft) has taken in response to Covid19 in comparison to the French luxury GAFAM named,“Kholc” (Kering Hermes L'Oreal LVMH Chanel).
Key trends defining the future of luxuryLighthouse
Yves Hanania, the author of "Le luxe demain" and founder of Lighthouse Consultancy shares his insights on the key trends that will shape the future of luxury.
Welsh Consultants examines the changes confronting Luxury offerings post COVID-19- No one could have predicted how much of a reset 2020 would be for luxury brands. Yet, we all had seen it coming: The need for luxury brands to do some introspection and adapt to remain relevant in a fast-changing cultural climate and modern context. In many ways, COVID-19 is acting as an accelerator of the inevitable— changes that were already underway — for luxury brands. Relevancy has become the new legacy — Luxury brands should deliver a timely and timeless form of meaningful value and empower expressions of individual identities. Luxury brands must lean in and transform themselves from a brand-centric, controlled and confidential model to a moretransparent, engaging and customer-centric organisation.We can’t know with absolute certainty what will happen in the aftermath of the pandemic, but “Elevated Essentialism” will be one of the key themes to take centre stage in 2021 and beyond. This paper examines and explores the subject in detail.
The appearance of coronavirus recently represents the most difficult pandemic that caused a big impact on various economic sectors worldwide. Governments have been enforcing different approaches to minimize the effect of COVID-19 on public health through lockdown procedures, restrictions on the movement of individuals, and practicing social distancing. These actions have affected most of the businesses as the purchase behaviours of consumers changed drastically which caused significant implications on profitability and the effectiveness of marketing practices. The main objective of this paper is to discuss the impact of COVID-19 on marketing strategies and actions of different organizations. In summary, several marketing actions have been influenced by the spread of COVID-19, such as corporate social responsibility (CSR), consumption pattern, advertising, marketing communication program, and supply chain.
This SlideShare shows the luxury groups and brands that have been the first to respond to Covid19, gives some initial future outlooks for luxury and fashion, and explains calls for action for brands. The presentation also looks at the key actions and measures that GAFAM (Google Apple Facebook Amazon Microsoft) has taken in response to Covid19 in comparison to the French luxury GAFAM named,“Kholc” (Kering Hermes L'Oreal LVMH Chanel).
Key trends defining the future of luxuryLighthouse
Yves Hanania, the author of "Le luxe demain" and founder of Lighthouse Consultancy shares his insights on the key trends that will shape the future of luxury.
Welsh Consultants examines the changes confronting Luxury offerings post COVID-19- No one could have predicted how much of a reset 2020 would be for luxury brands. Yet, we all had seen it coming: The need for luxury brands to do some introspection and adapt to remain relevant in a fast-changing cultural climate and modern context. In many ways, COVID-19 is acting as an accelerator of the inevitable— changes that were already underway — for luxury brands. Relevancy has become the new legacy — Luxury brands should deliver a timely and timeless form of meaningful value and empower expressions of individual identities. Luxury brands must lean in and transform themselves from a brand-centric, controlled and confidential model to a moretransparent, engaging and customer-centric organisation.We can’t know with absolute certainty what will happen in the aftermath of the pandemic, but “Elevated Essentialism” will be one of the key themes to take centre stage in 2021 and beyond. This paper examines and explores the subject in detail.
The appearance of coronavirus recently represents the most difficult pandemic that caused a big impact on various economic sectors worldwide. Governments have been enforcing different approaches to minimize the effect of COVID-19 on public health through lockdown procedures, restrictions on the movement of individuals, and practicing social distancing. These actions have affected most of the businesses as the purchase behaviours of consumers changed drastically which caused significant implications on profitability and the effectiveness of marketing practices. The main objective of this paper is to discuss the impact of COVID-19 on marketing strategies and actions of different organizations. In summary, several marketing actions have been influenced by the spread of COVID-19, such as corporate social responsibility (CSR), consumption pattern, advertising, marketing communication program, and supply chain.
China Chic - The Emergence of Chinese Luxury Brands Report by daxue consultingDaxue Consulting
In this report, you will find:
- Results from our survey of 1,000 Chinese consumers regarding their luxury perceptions and preferences
- Analysis of how Guochao plays out in China's luxury market
- What 'luxury' really means to Chinese
- The top industries of Chinese luxury brands (vs. foreign brands)
- Our 5 hypotheses for the future of Chinese luxury brands
A short market which is about:
- Luxury market overview in Asia,
- Luxury brands in China: in the path of e-commerce, social media and mobile,
- Marketing: where is influence?
- Luxury Brands: how do they perform on social media & Influence?
The household cleaning market is one of many markets growing due to China's consumption upgrade. With a higher disposable income, Chinese consumers are starting to use more specialized products depending on the task. Foreign brands find opportunity in this market as consumers are begin to prefer eco-friendly products, products that are gentle on the skin, and all-around, products having less chemical contaminants.
Perfect Diary China market strategy report by daxue consultingDaxue Consulting
China has become the world’s second largest beauty market since 2019 and more Chinese beauty brands start to rise in the market. In order to study the 2021 C-beauty trends that brands don't want to miss, daxue consulting investigated the market strategies of four of the top C-beauty brands, 1) Perfect Diary 2) Florasis 3) HomeFacial Pro 4) Winona.
Fashion Buying project focusing on a chosen floor in the department store La Rinascente in order for it to develop and bring in new designers or trends/categories for the upcoming season.
The online clothing business ASOS started life as “As Seen on Screen” in 2000. Its target audience was “twenty something” women who loved shopping and whose tastes moved between vintage, luxury and second hand items rather than being fixed. Their customers were - and still are - very interested in keeping up with fashion trends particularly those items they see being worn by the rich and famous in the media. From the outset, ASOS provided reproductions of these clothes, having them produced rapidly and at affordable prices.
The first truly digital luxury brand: why Burberry gets it?
With the launch of The Art of the trench, Burberry certainly became the first truly digital luxury brand. The first luxury brand to really understand and adopt digital behaviours to conceive and support its brand online communications. There are many reasons why it became a clear success and digital is certainly one piece of a bigger picture.
We all know that the same survival of most Retail businesses, especially in the Fashion&Luxury field, is now at risk but why?
Is Covid-19 the real cause of this disruption or is this pandemic more of an accelerator of these radical changes?
But, most importantly, what can our firms do to tackle the most dangerous crisis they have ever faced and reinvent their business model?
I have tried to answer all these questions with a deep analysis of the Fashion Retail Business and the suggestion of a set of solutions that will help both SMEs and traditional Retailers to bridge the gap with their competitors transforming this crisis into an opportunity.
China Chic - The Emergence of Chinese Luxury Brands Report by daxue consultingDaxue Consulting
In this report, you will find:
- Results from our survey of 1,000 Chinese consumers regarding their luxury perceptions and preferences
- Analysis of how Guochao plays out in China's luxury market
- What 'luxury' really means to Chinese
- The top industries of Chinese luxury brands (vs. foreign brands)
- Our 5 hypotheses for the future of Chinese luxury brands
A short market which is about:
- Luxury market overview in Asia,
- Luxury brands in China: in the path of e-commerce, social media and mobile,
- Marketing: where is influence?
- Luxury Brands: how do they perform on social media & Influence?
The household cleaning market is one of many markets growing due to China's consumption upgrade. With a higher disposable income, Chinese consumers are starting to use more specialized products depending on the task. Foreign brands find opportunity in this market as consumers are begin to prefer eco-friendly products, products that are gentle on the skin, and all-around, products having less chemical contaminants.
Perfect Diary China market strategy report by daxue consultingDaxue Consulting
China has become the world’s second largest beauty market since 2019 and more Chinese beauty brands start to rise in the market. In order to study the 2021 C-beauty trends that brands don't want to miss, daxue consulting investigated the market strategies of four of the top C-beauty brands, 1) Perfect Diary 2) Florasis 3) HomeFacial Pro 4) Winona.
Fashion Buying project focusing on a chosen floor in the department store La Rinascente in order for it to develop and bring in new designers or trends/categories for the upcoming season.
The online clothing business ASOS started life as “As Seen on Screen” in 2000. Its target audience was “twenty something” women who loved shopping and whose tastes moved between vintage, luxury and second hand items rather than being fixed. Their customers were - and still are - very interested in keeping up with fashion trends particularly those items they see being worn by the rich and famous in the media. From the outset, ASOS provided reproductions of these clothes, having them produced rapidly and at affordable prices.
The first truly digital luxury brand: why Burberry gets it?
With the launch of The Art of the trench, Burberry certainly became the first truly digital luxury brand. The first luxury brand to really understand and adopt digital behaviours to conceive and support its brand online communications. There are many reasons why it became a clear success and digital is certainly one piece of a bigger picture.
We all know that the same survival of most Retail businesses, especially in the Fashion&Luxury field, is now at risk but why?
Is Covid-19 the real cause of this disruption or is this pandemic more of an accelerator of these radical changes?
But, most importantly, what can our firms do to tackle the most dangerous crisis they have ever faced and reinvent their business model?
I have tried to answer all these questions with a deep analysis of the Fashion Retail Business and the suggestion of a set of solutions that will help both SMEs and traditional Retailers to bridge the gap with their competitors transforming this crisis into an opportunity.
Marketing Interrupted - Marketing and brand building in a new world.Jacques Erasmus
We unpack how COVID-19 will impact a brand’s current realities and planning for your new world of marketing post COVID-19.
Exploring likely questions brands need to start asking themselves to ensure they are ready for post COVID-19 world. To some brands, it would have changed not just their marketing landscape but also their business model, while other brands might have a minimal change to their marketing landscape and business model.
Explore the trends that will shape the state of retail tech in 2021 and what could be coming next. Take a deep dive into global retail tech investment trends, top initiatives, and more.
HOW DO YOU STEP-UP YOUR DIGITAL TRANSFORMATION & RECOVERY CHANCES IN THE POST...Jim Boukouray, PhD
According to #McKinsey’s latest report, revenues for the global fashion industry (apparel and footwear sectors) will contract by 27 to 30 percent in 2020 year-on-year, although the industry could regain positive growth of 2 to 4 percent in 2021. For the personal luxury goods industry (luxury fashion, luxury accessories, luxury watches, fine jewelry, and high-end beauty), we estimate a global revenue contraction of 35 to 39 percent in 2020 year-on-year, but positive growth of 1 to 4 percent in 2021.
Hence, the importance of this retail survival guide which sums-up the best contingency plans and strategies for the disruptive age.
If you have missed our preemptive thinking articles, surveys and interviews on how to turn COVID-19 into a 5.0 Accelerator, here is your chance to grab a courtesy copy of our latest blog and sign-up for our newsletters at https://multidev.com/blog/
GroupM’s The Great Shift 2020 details the shift caused by the pandemic in four major sectors (Auto, CPG & E-comm, Telecom and Financial Services) and another (Entertainment) where the industry has gone through significant change and, as a result, we must alter the way we think of them as sources of inventory.
The 8 Biggest Consumer And Customer Experience Trends In 2022Bernard Marr
Consumer expectations are shifting all the time, and with the ever-faster digitization of our world, customers want and expect better and different things from companies. Here we look at the top 8 consumer trends for 2022.
Digital Marketing Trends Report 2019 & "Did You Know?" About Google, Facebook...Ioana Barbu
Digital Marketing Report covering latest trends in social media communication and digital marketing for Business to Business, Business to Consumer, eCommerce, Web design & Mobile Marketing as well as Corporate Communication.
Towards the end you will also find some "Did you know"s about the current Digital landscape, Google - the largest search engine owner in the world covering over 90% of searches globally and Facebook - still the largest mass social media platform in the world.
Digital Business Acquisition: How to Perform?Vanksen
With web giants leading the pack, marketplaces growing exponentially and DNVBs that keep raising the bar, how can your company improve, its digital acquisition performance? That's the very topic of this study and applies to both B2C and B2B!
This report marks the 20th year of identifying
the 250 largest retailers around the world and
analyzing their performance across geographies,
sectors, and channels.
Over the last 20 years we have seen a seismic shift
in retail and the customers that retailers serve.
Consider that in 1997, the inaugural year of this report,
today’s average Amazon Prime customer was just
16 years old, AOL was pioneering social media, and
handheld virtual pets were the hottest-selling toys.
Today, handheld (or wearable) digital devices are
ubiquitous and a younger, social customer has come of
age. We are living in an era where customers are in the
driver’s seat more than ever before and they are craving
authenticity, newness, convenience, and creativity. We
are living in the customer-driven economy.
Is AI-Generated Content the Future of Content Creation?Cut-the-SaaS
Discover the transformative power of AI in content creation with our presentation, "Is AI-Generated Content the Future of Content Creation?" by Puran Parsani, CEO & Editor of Cut-The-SaaS. Learn how AI-generated content is revolutionizing marketing, publishing, education, healthcare, and finance by offering unprecedented efficiency, creativity, and scalability.
Understanding
AI-Generated Content:
AI-generated content includes text, images, videos, and audio produced by AI without direct human involvement. This technology leverages large datasets to create contextually relevant and coherent material, streamlining content production.
Key Benefits:
Content Creation: Rapidly generate high-quality content for blogs, articles, and social media.
Brainstorming: AI simulates conversations to inspire creative ideas.
Research Assistance: Efficiently summarize and research information.
Market Insights:
The content marketing industry is projected to grow to $17.6 billion by 2032, with AI-generated content expected to dominate over 55% of the market.
Case Study: CNET’s AI Content Controversy:
CNET’s use of AI for news articles led to public scrutiny due to factual inaccuracies, highlighting the need for transparency and human oversight.
Benefits Across Industries:
Marketing: Personalize content at scale and optimize engagement with predictive analytics.
Publishing: Automate content creation for faster publication cycles.
Education: Efficiently generate educational materials.
Healthcare: Create accurate content for patients and professionals.
Finance: Produce timely financial content for decision-making.
Challenges and Ethical Considerations:
Transparency: Disclose AI use to maintain trust.
Bias: Address potential AI biases with diverse datasets.
SEO: Ensure AI content meets SEO standards.
Quality: Maintain high standards to prevent misinformation.
Conclusion:
AI-generated content offers significant benefits in efficiency, personalization, and scalability. However, ethical considerations and quality assurance are crucial for responsible use. Explore the future of content creation with us and see how AI is transforming various industries.
Connect with Us:
Follow Cut-The-SaaS on LinkedIn, Instagram, YouTube, Twitter, and Medium. Visit cut-the-saas.com for more insights and resources.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
Financial curveballs sent many American families reeling in 2023. Household budgets were squeezed by rising interest rates, surging prices on everyday goods, and a stagnating housing market. Consumers were feeling strapped. That sentiment, however, appears to be waning. The question is, to what extent?
To take the pulse of consumers’ feelings about their financial well-being ahead of a highly anticipated election, ThinkNow conducted a nationally representative quantitative survey. The survey highlights consumers’ hopes and anxieties as we move into 2024. Let's unpack the key findings to gain insights about where we stand.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
First Things First: Building and Effective Marketing Strategy
Too many companies (and marketers) jump straight into activation planning without formalizing a marketing strategy. It may seem tedious, but analyzing the mindset of your targeted audiences and identifying the messaging points most likely to resonate with them is time well spent. That process is also a great opportunity for marketers to collaborate with sales leaders and account managers on a galvanized go-to-market approach. I’ll walk you through the methods and tools we use with our clients to ensure campaign success.
Key Takeaways:
-Recognize the critical role of strategy in marketing
-Learn our approach for building an actionable, effective marketing strategy
-Receive templates and guides for developing a marketing strategy
Top 3 Ways to Align Sales and Marketing Teams for Rapid GrowthDemandbase
In this session, Demandbase’s Stephanie Quinn, Sr. Director of Integrated and Digital Marketing, Devin Rosenberg, Director of Sales, and Kevin Rooney, Senior Director of Sales Development will share how sales and marketing shapes their day-to-day and what key areas are needed for true alignment.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
Videos are more engaging, more memorable, and more popular than any other type of content out there. That’s why it’s estimated that 82% of consumer traffic will come from videos by 2025.
And with videos evolving from landscape to portrait and experts promoting shorter clips, one thing remains constant – our brains LOVE videos.
So is there science behind what makes people absolutely irresistible on camera?
The answer: definitely yes.
In this jam-packed session with Stephanie Garcia, you’ll get your hands on a steal-worthy guide that uncovers the art and science to being irresistible on camera. From body language to words that convert, she’ll show you how to captivate on command so that viewers are excited and ready to take action.
Come learn how YOU can Animate and Illuminate the World with Generative AI's Explosive Power. Come sit in the driver's seat and learn to harness this great technology.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
The What, Why & How of 3D and AR in Digital CommercePushON Ltd
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems.
In this webinar, Vladimir will be covering the following topics:
Applications of 3D and AR in Digital Commerce,
Benefits of 3D and AR,
Tools to create, manage and publish 3D and AR in Digital Commerce.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
SEO as the Backbone of Digital MarketingFelipe Bazon
In this talk Felipe Bazon will share how him and his team at Hedgehog Digital share our journey of making C-Levels alike, specially CMOS realize that SEO is the backbone of digital marketing by showing how SEO can contribute to brand awareness, reputation and authority and above all how to use SEO to create more robust global marketing strategies.
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
Key Takeaways:
Understand how search engines work
Be able to find out where your users search
Know what is required for each discipline of SEO
Feel confident creating an SEO Plan
Confidently measure SEO performance
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
So how do you effectively navigate distributing and tailoring your content across these various touchpoints?
Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
- How today’s users engage with content across various channels and devices.
- The latest methodologies for identifying and addressing content gaps to keep your content strategy proactive and relevant.
- What digital shelf space is and how your content strategy needs to pivot.
With Wayne Cichanski, we’ll explore innovative strategies to map out and meet the diverse needs of your audience, ensuring every piece of content resonates and connects, regardless of where or how it is consumed.
2. Luxury industry amidst Covid-19
How labels began navigating the crisis back in March 2020
From the earliest stages of the pandemic, the luxury industry has been highly
attuned to the spread of the coronavirus and its massive implications, especially
steep declines in revenue. Luxury brand owners felt the first rumblings of the
storm when Covid-19 spread through China, the country whose citizens
accounted for 90% of the global luxury market growth in 2019. Labels had to
rethink and re-evaluate their overall strategy, battle rapidly changing consumer
sentiments, and manage challenging work ecosystems
More than 65% of
consumers in Europe
and the US expect to
decrease their spending
on apparel2
25%-30% is the
estimated decline in sales
for the year 20201
1 Bain & Company: Luxury after Covid-19: Changed for (the) Good? (Mar 2020)
2 BoF & McKinsey & Co: The State of Fashion 2020 Coronavirus Update (Apr 2020)
3. All luxury goods categories have
been heavily impacted by the crisis
Each facing potential double-digit declines by the end of 2020
BCG: Post-Covid-19 scenarios for different product categories (Apr 2020)
Perfume &
Cosmetics
Leather Goods Shoes
20 – 30% 30 – 40% 30 – 40%
Apparel Jewelry Watches
35 – 45% 35 – 45% 40 – 50%
4. “Caring Economy”
People prefer to buy from
companies who demonstrate
care and concern for
employees
Consumer sentiments have
evolved as a result of Covid-19
Leading to the emergence of new behavior themes
Shift to value and
essentials
People are more mindful
about their spending
purchasing more essential
products
Flight to digital and
omnichannel
During the pandemic, the
population shifted to online
shopping, a habit that will stick
Heightened
environmental and social
consciousness
Post-crisis, people will opt for
eco-friendly brands
Need to appeal local pride
Especially within the European
region, people will tend to buy
more locally manufactured
goods
1 Bain & Company: How Covid-19 Is Reshaping the Luxury Market (Apr 2020)
2 McKinsey & Co: Consumer: Consumer Sentiment is Evolving as Countries
Around the World Begin to Reopen (June 2020)
Demand for more
accessible price points
People will look for products
within the affordable luxury
segment
6. #1 Digitalization is on the
go
The society will live and
operate more in the digital
space
#4 Purpose moves to the
forefront
Concern for society at large is
a main priority for both
companies and customers
#2 Stressed importance of
the commitment to
sustainability
Sustainability will be a defining
value for brands and
consumers; there will be a
new luxury segment, the “eco-
luxury”
#5 Business models
evolve
Companies need to have
omnichannel flexibility to
survive and thrive
#3 “Localization”
Local shopping will increase,
and people will look more at
the origins of the products that
they buy
#6 Re-enchanted in-store
client experience
Hyper-personalized touches
and localized experiences
The crisis has accelerated trends
All impacting and shaping the “new normal”
7. #1 Digitalization is on the go
As consumers act more in this space, brands must increase online
capabilities to keep up
During this time of uncertainty, one thing is for sure: a digital explosion is guaranteed. Social distancing and
lockdowns have pushed digitalization to be an urgent priority across the entire value chain. Brands must scale up and
strengthen their digital capabilities to keep up with consumers’ new digital lifestyle
Valentino collaborated with an online video game, “Animal Crossing: New Horizons,” to launch and feature its latest collections
The global luxury personal goods
e-commerce market will move from
$37bn to $59bn by 20231
From $3.5tn, the global e-
commerce market will reach
$6.5tb by 20231
1, Forrester Analytics: Luxury Retail Forecast, 2018 to 2023 (Feb 2019)
8. Phillip Lim partnered with secondhand e-commerce store, The RealReal, to embrace
resale for an archive sale of seasons’ past collections
#2 Stressed importance of the
commitment to sustainability
A game accelerator as the new “eco-luxury” segment will rise
More than ever, consumers are becoming eco-conscious and are seeking
brands that promote sustainable practices. Luxury brands and related groups
will lead the way towards a greener future as various initiatives can be seen in a
vast number of announcements of luxury brands
The new “eco-luxury” segment is emerging with
various theme including longevity of a product’s lifetime,
eco-friendly, clean industrial processes and supply chain
traceability and anti-plastic and recycling sentiments
9. #3 “Localization”
Consumers and brands are acting more in their local
environments
The crisis quickly placed restrictions preventing cross-border travel and
consumers were forced to travel and buy locally, causing travel retail and
tourist-dependent stores to take a massive hit that will likely continue to suffer
into 2021
Consumers are moving from being “global travelers” to “local shoppers”:
Extending support to local
small businesses
Seeking products grown and
produced locally
Mega luxury brands who have produced locally and emphasized craftmanship since their
inception are at an advantage such as Hermès, Louis Vuitton and Dior
10. #4 Purpose moves to the forefront
Putting people ahead of profits
From the outset, most governments and businesses have been clear that they
plan to put people ahead of profits and as companies retooled their business
models to support first-responders, consumers were judging brands by their
more meaningful to their consumers by offering value beyond the products and
build authentic and personal connections based on shared values
Through employee referrals, LinkedIn provided free access to its premium features to
help employees at small businesses
65% of consumers
choose to buy from a
companies they believe
are doing socially good1
1 McKinsey & Company: Connecting with customers in times of crisis (Apr 2020)
11. #5 Business models evolve
Alternative strategies have emerged and will transform
organizations in the “new normal”
Companies need to have omnichannel flexibility to survive and thrive because
those with no existing online or delivery channel will struggle to survive during
and after this challenging time. Companies must anticipate change while
leading the growth through enterprise transformation, leveraging the role of
new valuable assets such as data and building new operating models and
collaborations
The most popular omnichannel services that consumers say they will continue
using are:
In-app shopping Home delivery
Ananda Hotel is offering a new range of online classes centered around wellness to help
customers reach their wellness goals in the comfort of their own home
Shopping via social media
12. #6 Re-enchanted in-store client
experience
Retail stores will be driven by experiences and services
Covid-19 has encouraged retailers to think about how they can better
personalize the in-store experience as shoppers are likely to spend even
less time in stores. The crisis has called retailers to offer unique experiences
that go beyond the transaction as buyers are expected to spend less time in
stores with shopping efficiency as a main priority
Private shopping
appointments
Genuine interactions with
clients
“No Touch” retail:
contactless payment
solutions
Interactive and immersive
digital experiences
New purification and
cleanliness standards
Convenient services: click-
and-collect, curbside
delivery, etc.
What is happening in “new retail”:
13. The 4Ps of marketing have been
reshaped by Covid
Taking into consideration the quickly accelerating trends
PRODUCT
• Smaller and functional assortment
• Products with a purpose
• Made with sustainable, eco-friendly materials
• Made-to-last
PLACE
Home deliveries, mobile shopping units, pop-up shops,
accelerated mobile ecommerce,shoppable online
media
PRICE
• Less frequent discounting with an eventual stop to
mid-season sales
• Lower entry price products
PROMOTION
• Messaging focused on health and saving the planet
• Online fashion shows
• Increased use of augmented and virtual reality
• Live streaming to sell clothing
4Ps
15. The crisis is testing companies as
they face unexpected
circumstances
Leading to the rise of numerous challengesReimaging retail stores
Covid-19 created an over-night retail shutdown which made companies
implement new in-store standards
Rapid digital escalation at all levels
Companies had to undergo a digital transformation overnight as the
crisis shifted all business operations across the value chain in the digital
space
A new, local clientele with rapidly evolving sentiments
As consumers are spending more in local regions and powerful
shoppers are travelling less, labels have to maintain VICs while also
targeting new, local clients and balancing rapidly evolving shopping
habits and needs
16. However, with all challenges come
opportunities
Covid-19 has presented multiple opportunities for companies to
act upon
Use digital services to bridge the online and offline world
AR can compensate for experiences that you may normally only get in-
store. For example, Too Faced offered virtual makeup tutorials and
Louis Vuitton used its logo to trigger “virtual installation” that includes an
image of its iconic suitcases
Expand service and product offering
As consumers’ sentiments evolve, brands need to find ways to adapt
different levels in demand and changing consumer sentiments.
Adopting services such as home delivery and curb side pick-up or
entering the second-hand market is a way to capture increasingly eco-
conscious and local shoppers
Enhance branding and marketing strategy
More than ever, brands can put traditional marketing aside to act with
attentiveness towards their customers’ needs. Now is the perfect time
for brands to re-examine and refresh their strategies so that it aligns
with their DNA
1 Jing Daily: Fashion under Covid-19: The measures brands can take (Mar 2020)
18. Re-examine and
refresh your strategy
Position your brand to aim
for “future proof-ness”.
Diversify your brand’s
revenue streams and build
a stronger brand ecosystem
Communicate with
authenticity and care
Understand and anticipate
shifts in consumer behavior.
Listen to what consumers
are saying in online and
offline conversations
Calls-for-action
Four areas to ensure brands are well positioned during and
after Covid-19
Understand the new
environment
In this “new era,” there will
be numerous trends which
will accelerate and bring in
new growth opportunities
Fasten up digital along
the entire value chain
Make investments now in
integrating digital practices
and explore partnering with
e-commerce sites for long-
term benefits
19. Brands have already acted upon
these calls-for-action
Proving their agility and reactivity to uncertain circumstances
Lululemon capitalized on the stay-at-home workout
trend that formulated during the pandemic by
acquiring the “Mirror,” a company offering at-home
workout classes in May 2020
Announced in early October 2020, Gucci is entering
the resale market by launching an online shop with
consignment site, The RealReal
At the beginning of the pandemic, Carolina Herrera
hosted a series special bridal zoom meetings
composed of a panel of wedding specialists offering
expert advice and guidance to the help panicked
brides
Sustainable fashion brand, Icicle, has reached out
to customers via WhatsApp, text message, and
WeChat to check on customers’ health and safety
throughout the crisis
20. Headquarters:
25, Rue du Bois de Boulogne
92200 Neuilly-Sur-Seine, France
--------------------------
Office: +33 1 46 37 70 85
Cell: +33 6 82 82 28 83
E-mail: yves@lighthouse.fr
To find out more about
the future of luxury:
www.luxedemain.fr
Lighthouse is a Strategy & Branding
Consultancy born to reveal and leverage
the potential of daring companies for long-
term growth.
We assemble international teams of
action-driven people to reveal and
leverage the assets of our clients,
building brand ecosystems for the future.
We are highly recognized and worked with
prestigious global companies
such as Kenzo (LVMH), Bally, Corneliani
(Investcorp), onefinestay (AccorHotels),
Nihiwatu (Burch Creative Capital)
and Nikki Beach Worldwide, etc.