Luxury Brands and Digital Technology: The Inevitable Alliance

"Luxury is a necessity that begins where necessity ends" said Coco Chanel.

For decades, the two realms of luxury goods and digital technology have progressed without ever overlapping each other. Nonetheless, the digital revolution has been ongoing. Now all market sectors, including luxury goods, are influenced by new technologies which in turn enable new products and services.  In 10 years, the internet transformed the marketing and commercial landscape to such an extent that the relationship between a company and its prospects/clients has drastically changed. 

The digital revolution merged accessibility with transparency and conveyed an ideal of the mass market. Digital technology is about “anywhere, any time, on any device”.

78% of sales that were influenced by the internet along with new fully digital retailers—Baume, Net-a-porter, HudaBeauty—have given a boost to this timeless sector. The desire is now for brands to preserve their ability to inspire and trigger the “impulse buy” reflex by enhancing psychological attractiveness.

Read more: https://digital-me-up.com/2019/02/19/luxury-brands-and-digital-technology-the-inevitable-alliance/

Thomas, A. (2019). Luxury Brands and Digital Technology: The Inevitable Alliance. [online] Digital Business Strategy - Advanced Master - GEM Grenoble ecole de management. Available at: https://digital-me-up.com/2019/02/19/luxury-brands-and-digital-technology-the-inevitable-alliance/ [Accessed 5 Apr. 2019].