In the past year, the global pandemic has derailed the luxury market, accelerating the need for digital transformation and highlighting the importance of devising new strategies to tackle the new challenges of the industry’s ever-changing landscape.
Indeed, there has never been a more important time to acknowledge how brand value and consumer engagement affect a company’s performance, particularly in the light of the global COVID-19 pandemic.
Performance, a virtual summit held by Launchmetrics – the leading Brand Performance Cloud for Fashion, Luxury and Beauty – hopes to help brands understand these issues better, by organising an event that will see key opinion leaders join together to discuss the new challenges facing the industry through a series of engaging and interactive panels, intimate discussions and digital networking meet-ups through professionals.
The summit, which will be held on November 5, will cover many different topics like Influencer Marketing, Sustainability as well as how to improve Brand Performance and Brand Equity, featuring speakers like designer Anya Hindmarch, LinkedIn’s Head of Luxury Tatiana Dupond, and Breitling’s Chief Digital and Technology Officer Antonio Carriero.
The schedule will also see the heads of the four fashion capitals Pascal Morand, Steven Kolb, Caroline Rush and Carlo Capasa, from Paris, New York, London and Milan respectively, discuss what the future of fashion weeks may hold, following this September’s mix of digital and physical presentations.
“The pandemic has sped up the pace at which these changes are happening as well as derailed previous truths,” said Alison Bringé, Chief Marketing Officer at Launchmetrics .“We are no longer able to navigate on the same methods as before and we need to be up-to-date on the new trends in order to make informed, data-driven decisions.”
“To that note, with everyone asking themselves, ‘what’s next?’ and ‘what should be my strategy in 2021?’, we've decided to organize a virtual space for industry leaders to discuss, share thoughts and develop the strategy of tomorrow, today,” she added.
Speaking ahead of the event, Tatiana Dupond, Head of Luxury at LinkedIn, believes that brands who will demonstrate more successful marketing strategies post-COVID, will be those that can incorporate digital shopping experiences, heightened social and environmental consciousness and the growth of a post-aspirational mindset.
“We know that luxury brands will emerge from the crisis into a world where the emotions and motivations of luxury buyers have evolved,” she said. ” Brands will need to express luxury brand values and to showcase their collections in a way that talks to ethics as much as to aesthetics.”
Another key point for brands to consider when creating content for consumers is to be authentic and have a true sense of purpose that they are willing to share throughout events, experience and digital communications.
“Together, millennials and Gen Z will represent 55 percent of the global luxury market by 2025. For them, beautiful photography, craftsmanship and heritage already have more meaning when they are connected to a sense of purpose. They expect to own, wear, drive and experience brands that represent support for communities and respect and value for employees,” she said. “These trends all require luxury brands to share deeper, more holistic and more transparent narratives with their audiences.”
For Breitling, this means ensuring that the company meets it customers through every channel and touchpoint. “Customers need recognition for their engagement with brands. Individuals need strong recognition from brands and personalisation in the engagement, beyond the content,” said its Chief Digital and Technology Officer Antonio Carriero.
“Modern luxury consumers live in digital, we meet them in digital and we support them in their journeys with Breitling beyond digital. We don’t simply wait for them in our point of sales.”
Performance by Launchmetrics will be held on November 5. Click here to reserve your place.