How luxury fashion and lifestyle brands can leverage technology in 2021

Over time, it becomes more evident than ever that any brand that does not harness the technology will be left behind. In short, the universal aesthetic codes of corporate strategy have radically changed. For example, in 2020, with the appearance of COVID-19; the need for businesses to reach consumers from their homes – with no in-person experience, evidenced by luxury fashion (metamorphosis) period that the industry is experiencing firsthand.

This year the first remote fashion week, was not only relevant, but rather a strong indicator of how the consumer has now been elevated to publisher – by filtering out their own tastes and curiosity – by showing fashion shows. This innovation proves one thing: If you can’t take advantage of technology, your business may not stand the test of time. Specifically, technology is a constant reassessment of how the fashion industry has operated over the past decades.

In short, consumers have witnessed firsthand that technology can simplify the shopping experience. Therefore, if you take important steps for your customers, you may want to venture into new territory. This new technological territory can play an important role in marketing, customer service / satisfaction and product delivery. The luxury space thrives because advertisers have been able to reach costumes on an emotional level. Buyers of luxury goods believe that these luxury goods give them a special image, and in order to maintain that image, they have to keep abreast.

Nonetheless, in 2020 the luxury industry had to contend with the COVID-19 pandemic – with the closure of brick and mortar stores. In addition, daily activities for the general public have been discontinued; at the World level. Ironically, the demand for luxury goods increased during this time. Consumers who still frequented luxury brands have turned to online shopping, which will soon become the norm in a post-COVID world. In an article by Bath & Company, he stated : “About half of all luxury purchases will be digitally enabled through new technologies throughout the value chain, and online interactions will influence almost all luxury purchases. ”

More than ever, consumers are demanding an offline experience in addition to the convenience of online shopping. Morphing the two together can only be achieved by artificial intelligence. And this is where high end luxury fashion brands are aiming in the modern era of fashion clothing and accessories.

Throughout my career, my research has always focused on men’s and women’s luxury fashion. In my opinion, fashion is unconventional. Today, artificial intelligence is bringing that necessary personalization and customers back to the brand. Luxury brands such as Dior, Louis Vuitton, Burberry, Estée Lauder, Tommy Hilfiger and even Levis have taken advantage of chatbots to add that human touch needed by today’s customers. From exclusive access, insights and style tips, it’s a strategy that enhances the customer experience by making consumers feel like a VIP.

For example, Burberry understands this by using chatbots to send push notifications to every consumer who has previously interacted with the technology. According to Luxury company, since November 2016, they have allowed their users to preview the burberry movie. The following year, they invited their customers via the chatbot to see their parade live on Facebook while purchasing the new collection.

Taking it a step further, brands are relying on AI to monitor their browsing history to deliver better-targeted emails that display users’ content based on their choices. This trend is going way beyond the fashion and luxury e-commerce platform and is heading into the entertainment space with a rapid flow. While music streaming companies are already using AI for music recommendations, there’s a chance that AI will be used to do so. more than recommending music to you. Imagine reading your body’s vital signs like heart rate, stress levels, respiratory rate and maybe even neurological signals through wearable technology and recommending music to yourself understanding the mood you are in. ? Well the same can be said for fashion and beauty.

“Consumers today want ease and a great shopping experience. The brands that offer the least stress around the delivery of their products / services are owners of the future ”, said Business development expert Paul Iwenofu.

While I’m not talking about this topic, the rise of wearable technology is turning into mainstream fashion brands that most consumers wear. The fashion industry has embraced wearable technology in two ways. These points go beyond connected watches. Today, shirts, blouses, jackets and pants can adapt to the mood and the environment. For over a decade, there has been technology that maintains balanced body temperature used by brands such as Under Armor. And that’s just the beginning.

Recently, Ralph Lauren introduced a PoloTech T-shirt with sensors that track live measurements like breathing, heart rate, and steps directly on your Apple Watch or iPhone.

My dear friend and colleague Salvatore Giardina, Assistant Professor at Fashion Institute of Technology, commented on PoloTech and said: “People are just information junkies today. My gut feeling is that it will be fine because it’s not just something that looks cool, it gives you information. “

“What looks like science fiction today could be the norm in 10 years”, Giardina points out.

Another area that lifestyle brands are moving towards is augmented reality (AR). Gucci did an impressive job in this area with their virtual try-on function. They added an AR feature on the IOS app that allows buyers to try on their sneakers. All you have to do is point your phone at your feet and shoppers can see a digital image of the sneakers from different angles. It helps buyers make an informed decision when trying to shop. And other luxury fashion brands have also followed suit. Nike allows its customers to scan their feet with a smartphone camera to get personalized recommendations on the correct shoe size.

Even the luxury car industry has co-branded with luxury fashion brands. When it comes to co-branding and modified tech, luxury car brands aren’t taking the backseat (pun intended). For example, BMW has also integrated AR into its services. Their Bmw.in / en / topics / owners / bmw-apps / virtual-and-augmented-reality.html “target =” _ blank “class =” color-link “title =” https://www.bmw.in/en/ topic / owners / bmw-apps / virtual-and-augmented-reality.html “rel =” nofollow noopener “> AR technology allows users to perform real virtual healing with their phone’s camera and sensor. to a video game because you can change the interiors or the lights. Ultimately, it is useful in helping customers with their purchases.

Finally, the use of influencer marketing, especially in the luxury niche, becomes more and more important as humanity moves into the future. At first, luxury brands didn’t believe in social media for fear they might make their products less luxurious. Nowadays, the new luxury fashion iinfluencers are arising every day due to demand in the market.

Studies show that 66% + luxury brands actively use influencer marketing to promote their brand. The benefits of influencer marketing are immense. Above all, the KING studies show that companies earn $ 6.50 for every dollar spent on influencers, with the richest 13% earning $ 20 or more.

It seems to me that the endless search for change is rushing to track the buying habits of consumers and their lifestyle in general. The world is changing, the market too. Today’s customers demand more. They want personalization, ease of service, and a great shopping experience. Although fashion retail has evolved, frank fashion and beauty brands are well aware of the importance of physical retail locations for a variety of reasons in today’s consumer market.

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