There is a saying that nothing dates quite like the future. And if there was one industry where timelessness is one of the core values it is Luxury.
So here lies the problem. How can Luxury move forward and embrace new technologies when its philosophy is grounded in timelessness. There is very little choice. As main stream brands have pinched quality and values that once were only associated with premium and luxury (beautiful packaging and customer service) Luxury must strive to stay ahead. Whether through a tried and tested model rolled out in new markets or through exciting innovation, one thing that will always be true and that’s creativity and difference.
Creativity through innovation
A readiness to try something new is required for innovation. And creativity is the answer but with it of course comes risk. The risk of the unknown. A distraction from the routine. In order to be innovative you need to put resources on an idea and go with it. Hold your nerve. It’s innovative because its not been done before and with that it’s going to take that little longer to get pick up. The benefits are that you are first to market. Challenge to do the unexpected, be out-of-the-blue and look for the ‘what if’ accident that will raise eyebrows.
Creativity through talent and style
Millenials are now positioned at the centre of the experience. The brands no longer own the T on the tennis court. And with that change in power, you need to create a style that is all of your own, because style does not always mean the cliches of suave. At The Future of Luxury we interpret style as individuality, confidence and personality. Creating a personality and confidence and building an ambassador program that is true to it will be an ingredient saved for the success businesses.
Creativity through Inaccessibility
For all its great positives one problem that the web suffers from (or we suffer from) is the idea that simple rules can be applied to everyone. In the world of building web platforms, the modern trend is The MVP (minimum viable product) introduced by The lean Start up Model. But anyone who has built a complex commerce platform will tell you there is nothing minimally viable about it. The same can be said of web marketing. Go mass and push volume. But in luxury making things a bit exclusive feeds the desire and human instinct to chase and want what you cannot have.