Luxury brands that traditionally bank on giving personal experience to their clientele are exploring digital avenues to connect
Luxury retailing is no longer a personal, niche experience. As technology pervades, many well-established luxury brands have understood the importance of online and tapping digital mediums to connect with their clientele.
But, despite the knowledge, 40% of luxury brands are still selling offline, says a Bain & Co report.
This is a key hurdle to the market that thrives on the look and feel of products. To cope with this, it will need to devise strategies to compensate for the personal touch and retain exclusivity for the new buyer entering its fold, the report said.
According to a whitepaper floated by vClusive, a Bengaluru-based platform in the luxury retail industry, bridging the gap between retailer and consumer, the world’s five famous uber luxury brands are going digital in marketing their products aggressively, and many others have followed suit.
Bentley, one of the most iconic car brand around the world, has been consistently symbolic of richness, class and premium luxury. To claim style,it has customised road trips to 7 exotic places on their website to entice and persuade customers on account of its high aspirational value.
BurBerry’s digital presence and an impeccable website has led to its brand value pegging at $5.7 billion (Milward Brown’s 2015 Brandz Top100) in 2015. Digital campaigns that include Art of Trench microsite, interactive and easy to navigate website, stylized videos and Snapchat presence of a few of its brands have boosted its e-presence.
Louis Vuitton, with a brand value of $27.3 billion (Interbrand’s Best Global Brands List 2014), has a robust online presence. Latest mobile apps, loyal followers on social media and a website that allows easy navigation and is known for its ‘World of Louis Vuitton’ adds to its iconic status.
Tiffany & Co, has captured the power of user generated content. Its mobile App, ‘What makes love true’ creates a romantic world for its user woven around Tiffany. Its other App, ‘Engagement ring finder’, is a novel way of allowing the user access to the entire range of Tiffany rings, sharing the images and scheduling an appointment for purchase, mastering the art of digital marketing.
Chanel, with a brand value of $7.2 billion, has over 100 million viewers on YouTube digital campaigns are among the most successful luxury brands.
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