After a 2022 characterized by an increasingly intense luxation and ultra-personalization of experiences, luxury houses will continue to pursue their key challenges in 2023 around several strong pillars: sustainably engaging their current audience, seeking new targets, positioning a strong brand, increase ROI, increase visibility, be part of a responsible and sustainable approach, continue to inspire dreams. All this, thanks to essential axes that brands must develop to stay in the running and draw the contours of luxury 3.0. Here are the 5 trends to follow in 2023 which many brands should grasp.
1/ E-commerce 3.0 and greater omnichannel.
Many brands have set the tone this year by unveiling new live shopping experiences like Monnier Paris, augmented reality like Nike/RTFKT, digital stores like Printemps or phygital like Givenchy Haute Couture, but the e-commerce experience of tomorrow has no still reached its peak . Phygital, wearables, virtual trials, NFT capsule collections, experiential Metaverse… luxury houses continue to innovate and imagine their presence in new digital territories.
According to McKinsey, the share of e-commerce in the Metaverse will represent a market of 2.5 trillion dollars by 2030. But the challenges are numerous: how to imagine a social and creative experience? How to think about immersion and adapt to user constraints? How to customize the experience to offer tailor-made and experiential courses? Finally, how to think about the interoperability between its different digital assets and what strategy to adopt?
2/ Sustainability and Purpose.
Web3 can be a great tool to highlight and intensify socially and ecologically responsible actions. Some brands such as Clinique, Givenchy Beauté, Yves Saint Laurent Beauté or Guerlain have paved the way, but fashion houses can go even further.
Due to its intrinsic characteristics, Web3 is open, decentralized and universal. Its technologies are increasingly green and beyond that, Web3 for good projects are starting to emerge in the service of much more global issues such as diversity, inclusion, environmental protection and disability. Whether it’s how to present the avatars of tomorrow, to the funds raised to support causes, to imagining new ways to fund these causes, Web3 for good in luxury is more than ever a reality to help brands reconciling innovation and sustainability.
3/ Customer experience and loyalty 3.0.
The customer experience continues to be at the heart of the concerns of luxury houses and Web3 is becoming one of the key tools, together with data, to rethink the logics of loyalty, attraction, retention and engagement of auditions.
If the past year has allowed the emergence of the first concepts of ultra-engaged community, co-creation of content, exclusive rewards, gamification, next year should see the explosion of the concept of gated tokens, loyalty 3.0, proof of interest , awards but also airdrops to continue growing and attracting the new generation to your brand to increase brand awareness.
Ultra-personalization is also a very strong theme for luxury houses, and finds its pinnacle in Web3 with ultra-exclusive and seamless initiatives, never seen before.
Web3 has never had so much interest in the logic of CRM, digital marketing and customer engagement to build the future of the brand with its audiences.
4/ Hospitality 3.0.
The beginnings have appeared in recent months in the field of hospitality with the organization of exclusive dinners reserved for NFT holders by Gucci, or the creation of a DAO Café Eleven by Hennessy.
But the sector should reveal itself this year in the Web3 universe, through augmented hospitality experiences to create a link between physical events and virtual worlds that transform into a new touchpoint to access exclusive experiences. For example, Wimbledon, in the world of tennis, has collaborated with Vodafone to create an immersive experience that allows everyone to retrace the player’s journey from the lanes of the central court to the court: unprecedented and guaranteed emotions for tennis lovers.
In the world of luxury, enhance physical experiences with immersive corners in the Metaverse ccreating a vortex of multidimensional experiences or bring together ultra-engaged communities around unique experiences.
5/ Web3: new brand territories.
Web3 opens up a field of all the possibilities that brands must seize and not only through activations, but also in an innovative brand narrative and positioning to write their next story.
While most brands are attempting a foray into Web3, others are taking the opportunity to truly position themselves as disruptive brands, determined to embark their community on a new long-term venture.
Gucci has led the way by creating a true Web3 brand platform through Gucci Vault, which presents itself as an exploratory laboratory for this new ecosystem found in TheSandbox as well as Roblox and which creates the direct link with the brand, as it is associated to a dedicated clothing collection. The Nike Swoosh example is also an illustration of the power of a brand to build a narrative and exist across all territories, including digital. Nike thus appropriates some key values of Web3: decentralization and co-creation in the service of creativity and innovation.
The year 2023 will definitely be Web3, with brands writing their own story.