The luxury industry is currently in a state of constant change, making it one of the most exciting sectors to be a part of in the 21st century. The impact of digital within the sector has been monumental in recent years. Over 10% of luxury sales now happen online, an increase of 22% versus the previous year and this is expected to triple in the next six years – accounting for a fifth of the global luxury goods market according to a recent study by McKinsey and Euromonitor (2018).
In this report, we explore both the consequences of not investing in digital and the immediate solutions available in order to succeed in this competitive landscape. Digital Darwinism is a concept that has been born from this predicament. Brands are now faced with only one choice; to adapt.
Some of the topics covered in the report include:
- The shift in today’s luxury consumer and the expectation of highly personalised services.
- How AI can provide a seamless experience for customers.
- The power of the Asian market in the luxury goods industry. How they behave and how brands can tap into this lucrative market.
- The new face of media and how to leverage digital marketing effectively.
- The need for purpose and the rise of sustainable brands.
- How to achieve an omnichannel experience.
Download your complimentary copy to learn about the key trends in the luxury sector.
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