When we think of luxury brands, we often think of glamorous, aspirational products that come at an exorbitant cost. But what if luxury brands made ordinary items luxurious? Tatler Taiwan takes a closer look at how luxury brands are creating an alluring aura around their relatively mundane collection.
1) Supercharging Ordinary: How Luxury Brands Are Innovating
Luxury brands are often regarded as a symbol of opulence: coveted for their splendor and perceived to be beyond the reach of most people. The dynamics, however, are shifting. Luxury brands are now embracing new technologies and innovative thinking to become more accessible, reach more customers, and expand their market. Here are a few ways luxury brands are supercharging the ordinary:
- Adopting Mobile Technologies
- Connecting with Consumers online
- Experimenting with Novel Ideas
To stay ahead of the competition, many luxury brands are embracing new technologies such as artificial intelligence, augmented reality, and machine learning. This gives them a powerful tool to analyse customers’ needs and present them with personalised offers. Brands like Prada have leveraged AI-enabled virtual try-on systems to not only optimise the shopping experience but also capture customer sentiment. Additionally, brands are connecting with potential customers online, even creating dedicated social media pages for high-end products. And, most importantly, they are experimenting with novel ideas. Hermes, for instance, developed a system to 3D-print clothes that are tailored to customers’ exact measurements.
2) The Uniqueness of Luxury Brands: Elevating Everyday Experiences
When it comes to luxury brands, it’s not just an item that sets them apart from the everyday. It’s the overall luxurious lifestyle and experience that follows. From the beautiful packaging, attention to detail and special offers, luxury brands elevate everyday experiences.
Take fragrance, for example. An iconic scent can provide a boost of confidence, elevate your mood or draw compliments. Luxury perfumes leave a lingering scent of sophistication — a far cry from ordinary eaus de toilette. Such fragrances come in chic and purposeful packaging, with bottles that look as if they were made for a gallery wall. What’s more, many give you access to limited merchandise and the latest collections before they become public, so you can make that statement.
- Luxury brands elevate everyday experiences
- Beautiful packaging and attention to detail
- Iconic fragrances provide a boost of confidence and elevate mood
- Chic and purposeful packaging
- Access to limited merchandise, before they become public
3) Re-imagining Luxury: How Brands are Redefining the Industry
Luxury has gone through a huge transformation in recent years. Brands around the world are re-imagining the traditional notion of luxury with more accessible, versatile and sustainable offerings. Here are some of the ways brands are driving innovation in the luxury space:
- Inclusivity: Rebranding luxury fashion to make it more attainable and inclusive has been a key move for luxury fashion brands. Last year, Gucci launched its ‘Epilogue’ collection offering its premium designs at a much lower cost. This allowed Gucci to cater to a more diverse range of customers.
- Innovation in Sustainability: With the increasing trend of eco-friendly fashion, many luxury brands have made sustainability a major pillar of their ethos. Stella McCartney leads the way with a range of luxury vegan leather and cruelty-free merchandise. Additionally, Chanel has recently announced a 2022 commitment to only use sustainably sourced cashmere and wool in its designs.
Other brands are changing the luxury landscape by embracing technology, digital marketing and social media to give a more personalized experience to their customers. This extends beyond just fashion and into jewelry, hospitality, travel and even skincare. As luxury brands continue to innovate across these categories, the industry will continue to be transformed.
4) Entertainment and Luxury: The Powerful Combination of Brands and Consumers
Consumers have been captivated by the lure of luxury and entrainment for centuries. Brand names have a strong cultural meaning and evoke deep emotions. This combination of consumer demand for top-end luxury products and desire for entertainment isn’t only powerful, but also ever-evolving.
From sports clubs to luxury cars, brands have reinvented the way consumers enjoy entertainment and luxury. The modern consumer plays a much more active role in the discovery, purchase, and use of luxury and entertainment than ever before. It’s quickly becoming easier for luxury brands to reach out to relevant audiences and become more “on-demand”.
- Explosive growth in the connection between luxury and entertainment has been possible because of new technology and shopping trends.
- This combination of luxury and entertainment
From golden crown-shaped emojis to reimagined shopping experiences, luxury brands have been going through a lot of effort to recreate their distinct style. And with a broadening consumer base, it’s no surprise that these brands continue to innovate and rise up to compete against the growing competition. With their undying commitment to excellence, it looks like luxury brands are determined to stay golden, and set the bar higher than ever.
