When you imagine the future of digital media and technology, it is
likely that the somewhat futuristic movie Minority
Report may feature somewhere in the spectrum of your thoughts, notably the
scene where Tom Cruise’s character walks into a shopping mall and is instantly
welcomed by a lineup of personalized messages flashing on transparent walls,
from adverts to product displays and direct messages, all tailored to
seamlessly match his preferences, habits and lifestyle. This is of course made
possible by the multiple technologies that are designed to “crack” the codes of
consumer behavior by effortlessly gliding into their lives and even mind. But is
this fictional setting possible in our world today, more so in luxury? The
answer is a clear and sound “yes”, as was witnessed at the Club e-Luxe International Summit held on Wednesday 6th
June at the Ritz Hotel, Paris.
Recognizing the forward march of digital media and its unquestionable
impact on the luxury consumer’s psyche and general disposition towards luxury
shopping, Luxe Corp chose the theme of E-Commerce,
F-Commerce & M-Commerce for this year’s summit. Before rushing to the
conclusion that online shopping has come of age (after all e-commerce has been
around for over fifteen years), it is noteworthy to mention that like every
aspect of technology, online selling is not static but constantly evolving.
This mere fact influenced the key topics and subject areas that emerged from
the summit’s theme; and they ranged from the familiar E, F and M-Commerce to the incipient V-Commerce (as in Video Commerce), A-Commerce (as in Advert Commerce), Email-Shopping (as in shopping from online Newsletters inside the
mailbox), E-Customization, E-Services,
Virtual Reality and a host of other intriguing technology and business facets.
Although e-commerce in luxury began with a focus on transactions and
functions, today’s digital shopping environment is a far cry from this.
E-shopping in the present day means first and foremost engaging with the client
through interactivity and connecting with them emotionally through rich
content, entertainment, storytelling, social exchanges, virtual collaborations,
creative sourcing and everything in between. In fact the buzz words in today’s
online selling space for luxury are “collaborative consumption”, “social
selling” and “multi-media or trans-media storytelling and entertainment”. This
means that the luxury online shopper must be
courted, tantalized, wooed and above all enticed into becoming a “fan” before
they deem a brand fit for shopping.
This context has raised more questions than ever, especially on how luxury
brands can stand out in a world where access to brand information is currently
at the fingertips of anyone remotely interested in luxury. The Club e-Luxe International Summit gathered some of the finest
and brightest minds in digital media and luxury in a highly stimulating day
where the latest innovations, tools, applications, systems, trends, strategies and
solutions were dissected through illuminating presentations, live DEMOs, debate
sessions, workshops and expositions.
LUXE CORP’s Executive Director Uché Okonkwo led the team of forward-thinking visionaries, through an insightful presentation
that focused on the evolution of luxury e-commerce, from
the arrival of the internet until the present strategies and techniques adopted
by the luxury industry. She highlighted the errors made by luxury brands in the
first phase of e-commerce, and indicated the current requirements and future
direction of e-commerce in the industry. She emphasized that the late arrival of the luxury industry in
the e-commerce landscape enabled the emergence of a market gap that was filled
by several parties, including independent retailers, discounters,
counterfeiters, auctioneers, lenders and others. This led to a loop-sided
position where luxury brands became the “outsiders” leading to the startling
reality that remains prevalent today, which is that the current structure of
luxury e-retail was set by independent e-retailers and luxury brands have been
forced to follow it without much choice. The presentation also revealed that luxury
consumers currently seek more than products and services online, but now view content,
entertainment, connecting, sharing, storytelling and creating as prerequisites prior
to purchase. Content especially has become a product of consumption in today’s
luxury e-commerce context. Uché Okonkwo identified the 6 areas that would be
prevalent in the immediate future of luxury e-commerce as Virtual Immersive
Platforms (including Real-Time 3D, Interactive 3D, Mobile 3D, Simulated
Social 3D), Content Consumption (including videos, animations,
magazines, blogs), Social & Collaborative Shopping (including
styling platforms, visual platforms, creative platforms), Web Channel
Disintegration (including the merging of self-commerce, social commerce,
mobile & advert commerce), Interactive Shopping (including email
shopping, shoppable videos, shoppable adverts), E-Personalization (including
customization, personalization, real-time demo views).
Jean-Louis Lesage and Virginie Baudelaire from the pioneering digital company NOVACOM, which specializes in 3D virtual platforms, then took the floor
and led the audience through one of the most powerful immersive virtual
experiences that exists in the luxury sector today. As the company that created
the Valentino Garavani Virtual Museum,
the first full 3D website in luxury, NOVACOM is not only a pioneer but an
enabler of the digital luxury evolution. The presentation focused on showcasing
the approaches required to create an immersive experiences online using
platforms that support real-time 3D integration. The presentation was followed
by a virtual visit and live demonstration of the Valentino Garavani Virtual
Museum an ultra-luxury online destination dedicated to showcasing over forty
decades of the designer’s work, featuring over 5,000 images, 180 videos and
virtual space that could be equated to 10,000 square meters of physical retail
space. They emphasized that immersive 3D platforms provide the most powerful
visual impact in digital media today and correspond to what luxury consumers
are currently seeking which includes exceptional experiences online as well as
ways to personalize, control and contribute to these experiences. They also revealed
that immersive 3D technology can easily be used to create a website, virtual
showroom or e-boutique as it has e-commerce applications. They may be adapted
for all mobile platforms including smart phones and tablets with no diminishing
factor on the visual impact on mobile phones. But the ultimate value for luxury
brands is that this platform allows brands to glamorize their heritage and
promote the engagement and ownership of the brand by the consumer, factors that
have become imperative.
Posts
