Luxury: Il conflitto tra la democrazia del Digital e l’esclusività del Brand

AICEX: punto di vista interessante, molto interessante 🙂
March 17, 2016 | by Jeannie Walters

What’s the definition of luxury? That’s one of the questions brands are facing as the evolving digital landscape shifts yet again.

From a discussion among luxury brand managers and consultants, at this week’s South By Southwest Interactive Festival, the quick answer was “it depends” on how one brand might define luxury versus another. The long answer, of course, is much more nuanced. Those weighing in included Ambika Samarthya-Howard, group account director of Havas Luxe; Gregory Pouy, CEO, Lamercatique; Judy Bassaly, ex VP, trade marketing at Giorgio Armani, and Thomas Serrano, founder and president of Havas Luxe.

Digital access means customers want instant purchase options, immediate feedback and direct connections with the brands they support. Since luxury brands are built on a foundation of being exclusive, aloof and scarce, this type of direct access through digital channels creates conflict. The “new” customer wants to visit runway shows behind the scenes via Snapchat, purchase the latest handbag via a “buy now” Instagram button, and connect directly with designers with Twitter. So how are these brands, built on limiting distribution and connection, attracting the customers of tomorrow without losing the very cache that makes them luxury?

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Perchè una Banca Online dovrebbe avere filiali fisiche ? (CheBanca! case study)

AICEX : Interessante connubio tra Virtuale e Reale

Why would a digital bank have branches? (CheBanca! case study) – by Chris Skinner

I just visited with Roberto Ferrari at CheBanca! in Italy.  For those who don’t know CheBanca!, it is the digital first bank launched in 2008 by Mediobanca.  Mediobanca provides merchant bank services in Italy and had never had a retail bank before.  Therefore, it made sense in the post-meltdown digital age to implement a fintech bank fit for Italy, andCheBanca! claims to be that bank.  You can find out more here.

Anyways, being a digital first bank does not mean being a digital only bank, and Roberto took great pride in showing me his branch.

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I know, it doesn’t look like much, but wait till you get inside

A digital bank with a branch?  Yep.  CheBanca! has launched almost 50 of them so far, with more to follow.  This has proven critical in getting trust and deposits, with the main aim of achieving three things that digital only does not achieve:

  1. Trust
  2. Brand
  3. Service

These three things are harder to achieve when you are unseen, unproven and unknown, although some are bound to disagree.  However, Roberto and his team gave me some interesting statistics that may back up this claim.

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Creare una “Luxury-Brand Image” in un Mondo Digitale

NOTA AICEX: Lettura interessante con risvolti anche su altri mercati

“Building a Luxury-Brand Image” in a Digital World | INSEAD

Luxury Managers often see #DigitalMedia, as a threat, worrying that mass appeal will take power away from the #Brand. But digital channels offer powerful connections with customers and closer integration with their ecosystems.

“Hermès has no desire to become “masstige” (a mass producer of prestige goods) said the company’s CEO Patrick Thomas in 2009, despite two-year waiting lists for its famous Birkin or Kelly handbags at the time. The luxury brand maintained that it did not want to dilute the brand image and compromise on quality in the interest of short-term profits…

Such a dilemma is par for the course in Luxury and is also applicable to the digital presence of the companies in the industry: How to maintain demand and a big customer base while remaining exclusive? This is all the more important as #DigitalChannels, “expose” brands regardless of whether they want to or not, through the hundreds of thousands of press articles, comments and pictures that are posted daily about #LuxuryBrands…If Brands do not embrace digital media, they risk being shut out of conversations about their products..

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