Luxury and ecommerce: how china is shaping the future of western luxury brands
de Montvalon, Garance
de Montvalon, Garance
|上傳時間: ||2018-07-13 15:17:49 (UTC+8)|
|摘要: ||This paper reflects on the influence of technology innovations on the global luxury landscape, a market dominated by Western brands looking to reach unique China’s consumers pool. As competition is getting sharper on a global scale, luxury consumers are stimulated into being more sophisticated. We will discover that consumers’ expectations go beyond the single purchase of an item to become a whole premium experience. We explain how the Internet has changed the purchase path in many ways, and how digital innovations will be a game changer in the luxury industry.|
Data-processing ability will be essential for key players to stand out and stay upfront. It will determine who is going to lose and who is going to win. Digitalization will impact high-end companies all along its value chain, from creation, to logistics, marketing, consumer loyalty, and revenue making. Furthermore, innovation will also be a way to fight counterfeit, the thorn by luxury’s side to expand luxury in China.
As brand image is capital for luxury companies, they are still reluctant to sell online, but, step by step, they become less digitally shy and now invest all kind of digital platforms. The data they can gather on Chinese online consumers provide the luxury industry a two-digits growth that was long gone in Western countries.
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