December 26, 2017
Thought-leadership in luxury focused on key issues dominating the business: reinvention or adaptation to evolving consumer behavior, cultivating emerging generations with buying power who supposedly value experience over products, digital disruption with ecommerce and mobile, the eternal struggle with scale versus exclusivity, role of the bricks-and-mortar store, and the very definition of luxury.
Here are the 10 columns in Luxury Daily that asked – or answered – the most thought-provoking questions of the day:
What effect will the rollout next year of the European Union’s General Data Protection Regulation (GDPR) have on a business that relies on strictly targeted marketing?
The sad reality is that we have allowed and even been conditioned as consumers to believe that good is good enough. This encroachment on our lives is a dangerous path that could eventually eliminate the need for, and respect of, artisans. The truth, good is not great.
Forget about page layout and load times. There are more human ways to enhance ecommerce.
What might appear as necessary for survival in the non-luxury retail world – in this case, data-driven marketing – might destroy what makes luxury so special.
Voice is the new interface to the world. From the Amazon Echo to the Apple HomePod and Google Essential Home, there is no question as to whether voice is applicable to the luxury world.
Millennials travel to destinations off the beaten path while working remotely, and document their lives on social media. Experiences make better stories than the items millennials own, whose physical possession restrain them from moving around freely.
Forget about artificial intelligence. Most ecommerce Web sites are not even using basic intelligence and tracking tools to show people new choices inspired by their past purchases.
They may have less resources, but new luxury brands are rethinking marketing and changing the landscape for everyone.
How will a luxurian of 2027 signify status in a world where technological advances have made 100-plus years healthy lifespans, ubiquitous digitally powered convenience, and even space flight, affordable on a merely middle class salary?
Luxury brings with it changes, challenges and uncertainties, as well as the occasional cyclic returns of older trends: it is all of this that makes luxury so enigmatic, and so often beyond our grasp.