Often at the forefront of major retail revolutions, and particularly exemplary in terms of customer experience, the luxury sector continues to face ever greater challenges every year. Some of them even go so far as to shake deep historical convictions and practices for its protagonists, pushing them into entrenchments unimaginable even until a few years ago … Among these, we obviously find the runaway digitization of the brand-customer relationship, driven by the health crisis, and which is now taking the direction – certainly a bit vague – of virtual reality. But we also gladly mention collaborative efforts, which if not new, in 2022 cover much more powerful experiential and engagement issues. And finally, it is impossible for these brands not to invest in responsible and ecological practices, given an environmental context that they no longer want and can ignore.
The metaverse: the shop, but bigger!
Many of our luxury brands are already experimenting with this technology, the contours of which are sometimes unknown, often hazy, but always terribly exciting! And for a good reason: once we collectively appreciate that the metaverse is by no means an innovation designed to contrast a virtual life against a real life, but only to reconcile the two worlds in an already digitally imbued daily life, we will be able to consider the endless source of opportunity it promises to resellers. Whether it is to more precisely maintain relationships with customers outside the store, to offer fun and original personalized experiences, to reward and retain the best ambassadors, or even of course to recruit the youngest among us as soon as possible … . metaverse allows for an enormous extension of a declining physical store that, unfortunately, can be subject to the whims of health. As for NFTs, these blockchain-certified digital assets offer the incredible opportunity to pre-test products without designing them, drastically reducing the carbon footprint of affected brands.
Collaborations: experience, but more fun!
Beyond the business opportunities they have always generated, the collaborations between luxury brands help to cultivate the relationship with customers, with greed and optimism! Because collaborating, for these houses often constrained by the rigor of their positioning, very often means temporarily offering themselves the freedom to invest new territories of expression and less conventional places, and thus create the surprise that their customers may occasionally desire. These associations, well thought out and well conducted, therefore amplify the possible experience in the point of sale, as in digital, but not only. If the only common cause that seems to have consensus in our society today is the preservation of our environment, collaborations also pave the way for the creation of ever more powerful levers of commitment!
The second hand: commitment, but more concrete!
Again and again him! Commitment is now a prerequisite imposed by most luxury customers. 59% of them claim to be influenced today by the eco-responsible dimension of their purchases  and expect brands to help them consume better. And among the strong trends, the second-hand offering embodies both a consistent materialization for the sector and an extraordinary growth opportunity. Olivier Fournier, president of the illustrious Hermès Foundation, recently summed it up perfectly in these terms: “Luxury is what is durable, what can be repaired, what is passed on…”. A mantra thought a priori for the second hand, right? Because, in fact, in the world of luxury, everything reflects a ferocious desire to exist over time: long involvement in creations, sharp design work, quality of materials … If it had tended to barricade itself from the real world in the past, luxury undoubtedly started a small revolution a few years ago, always revealing itself a little more to its customers, for example through social networks, or even concretely engaging in its processing methods (furs…). Owning the second-hand market is, I believe, the logical next step in the history of the sector, both exemplary in terms of eco-responsibility, but also devilishly effective in terms of customer experience.
 Source: BCG
(Published forums are the responsibility of their authors and do not involve CB News).